Emerald Mutual Fund Advisers Trust Trims Stake in Fulton Financial Co. (NASDAQ:FULT)

Emerald Mutual Fund Advisers Trust lessened its stake in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 17.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 714,636 shares of the bank's stock after selling 147,055 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.39% of Fulton Financial worth $13,778,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in Fulton Financial by 10.3% in the fourth quarter. Blue Trust Inc. now owns 5,455 shares of the bank's stock valued at $99,000 after buying an additional 509 shares during the period. SRS Capital Advisors Inc. raised its stake in Fulton Financial by 0.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 91,464 shares of the bank's stock valued at $1,763,000 after acquiring an additional 523 shares during the period. Summit Investment Advisors Inc. lifted its holdings in Fulton Financial by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 18,997 shares of the bank's stock valued at $366,000 after purchasing an additional 602 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Fulton Financial by 57.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock worth $42,000 after purchasing an additional 800 shares during the period. Finally, HighTower Advisors LLC increased its holdings in shares of Fulton Financial by 1.4% in the fourth quarter. HighTower Advisors LLC now owns 63,321 shares of the bank's stock valued at $1,221,000 after purchasing an additional 849 shares during the last quarter. Institutional investors own 72.02% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on FULT. Piper Sandler reduced their target price on shares of Fulton Financial from $22.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. DA Davidson reaffirmed a "neutral" rating and issued a $20.00 price objective on shares of Fulton Financial in a report on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their target price on Fulton Financial from $24.00 to $21.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Hovde Group raised their price target on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a "market perform" rating in a research report on Monday, January 27th. Finally, StockNews.com raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Fulton Financial currently has a consensus rating of "Hold" and a consensus price target of $19.83.

Fulton Financial Price Performance

Shares of NASDAQ:FULT traded up $0.45 during midday trading on Friday, hitting $17.36. The stock had a trading volume of 959,523 shares, compared to its average volume of 1,476,703. The company's 50-day moving average price is $17.26 and its 200-day moving average price is $19.13. Fulton Financial Co. has a fifty-two week low of $14.33 and a fifty-two week high of $22.49. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $3.16 billion, a P/E ratio of 11.06 and a beta of 0.76.

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

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.15%. The ex-dividend date was Tuesday, April 1st. Fulton Financial's payout ratio is 42.35%.

Fulton Financial 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.