Canada Pension Plan Investment Board Takes Position in Fulton Financial Co. (NASDAQ:FULT)

Canada Pension Plan Investment Board bought a new position in Fulton Financial Co. (NASDAQ:FULT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 117,700 shares of the bank's stock, valued at approximately $2,269,000. Canada Pension Plan Investment Board owned about 0.06% of Fulton Financial at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FULT. Norges Bank bought a new position in shares of Fulton Financial during the 4th quarter valued at approximately $38,010,000. JPMorgan Chase & Co. grew its stake in shares of Fulton Financial by 137.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,322,616 shares of the bank's stock worth $25,500,000 after buying an additional 765,313 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Fulton Financial by 35.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank's stock worth $49,782,000 after buying an additional 673,559 shares during the last quarter. Trexquant Investment LP raised its position in shares of Fulton Financial by 468.8% during the 4th quarter. Trexquant Investment LP now owns 420,930 shares of the bank's stock valued at $8,116,000 after buying an additional 346,933 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of Fulton Financial in the 4th quarter valued at about $5,678,000. 72.02% of the stock is owned by institutional investors.

Fulton Financial Trading Down 0.8 %

Shares of NASDAQ FULT traded down $0.14 during mid-day trading on Tuesday, reaching $16.71. The company had a trading volume of 281,748 shares, compared to its average volume of 1,550,741. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 10.63 and a beta of 0.68. Fulton Financial Co. has a 52 week low of $14.33 and a 52 week high of $22.49. The business's 50-day moving average is $17.48 and its 200-day moving average is $19.17. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its earnings results on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.08. The business had revenue of $322.64 million for the quarter, compared to the consensus estimate of $315.07 million. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same period in the prior year, the firm earned $0.40 EPS. Equities analysts expect that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date was Tuesday, April 1st. Fulton Financial's dividend payout ratio (DPR) is presently 42.35%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FULT shares. Hovde Group boosted their price objective on Fulton Financial from $22.00 to $22.50 and gave the stock a "market perform" rating in a research note on Monday, January 27th. DA Davidson restated a "neutral" rating and set a $20.00 price target on shares of Fulton Financial in a report on Wednesday, April 16th. StockNews.com raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Piper Sandler reduced their target price on shares of Fulton Financial from $22.00 to $20.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $19.79.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.