Bank of America Corp DE Has $11.48 Million Position in Fulton Financial Co. (NASDAQ:FULT)

Bank of America Corp DE lowered its stake in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 26.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 595,308 shares of the bank's stock after selling 213,279 shares during the period. Bank of America Corp DE owned approximately 0.33% of Fulton Financial worth $11,478,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FULT. Barclays PLC boosted its stake in Fulton Financial by 79.4% during the 3rd quarter. Barclays PLC now owns 420,636 shares of the bank's stock worth $7,626,000 after acquiring an additional 186,215 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Fulton Financial in the fourth quarter worth $632,000. Blue Trust Inc. raised its holdings in Fulton Financial by 10.3% in the fourth quarter. Blue Trust Inc. now owns 5,455 shares of the bank's stock worth $99,000 after purchasing an additional 509 shares during the period. KBC Group NV boosted its position in shares of Fulton Financial by 69.3% during the fourth quarter. KBC Group NV now owns 8,517 shares of the bank's stock worth $164,000 after purchasing an additional 3,487 shares in the last quarter. Finally, Coston McIsaac & Partners grew its holdings in shares of Fulton Financial by 231.8% in the 4th quarter. Coston McIsaac & Partners now owns 9,887 shares of the bank's stock valued at $190,000 after buying an additional 6,907 shares during the period. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. DA Davidson reaffirmed a "neutral" rating and set a $20.00 price objective on shares of Fulton Financial in a research note on Wednesday, April 16th. Piper Sandler dropped their price target on Fulton Financial from $22.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods cut their price objective on Fulton Financial from $24.00 to $21.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $20.30.

Fulton Financial Stock Down 1.2%

NASDAQ FULT traded down $0.21 on Wednesday, reaching $17.33. The company had a trading volume of 53,764 shares, compared to its average volume of 1,428,241. The company's fifty day moving average is $16.98 and its 200-day moving average is $19.03. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 11.05 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial Co. has a 1-year low of $14.33 and a 1-year high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. The company had revenue of $322.64 million for the quarter, compared to analyst estimates of $315.07 million. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period in the previous year, the company posted $0.40 earnings per share. On average, research analysts forecast that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently declared 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 4.16%. The ex-dividend date was Tuesday, April 1st. Fulton Financial's dividend payout ratio (DPR) is currently 42.35%.

About Fulton Financial

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.