Bank of New York Mellon Corp Sells 49,462 Shares of Fulton Financial Corporation (NASDAQ:FULT)

Bank of New York Mellon Corp reduced its holdings in Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,832,401 shares of the bank's stock after selling 49,462 shares during the quarter. Bank of New York Mellon Corp owned 1.01% of Fulton Financial worth $33,148,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FULT. Jones Financial Companies Lllp increased its holdings in shares of Fulton Financial by 193.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock worth $25,000 after acquiring an additional 853 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Fulton Financial during the fourth quarter worth about $279,000. Raymond James Financial Inc. bought a new position in shares of Fulton Financial during the fourth quarter worth about $1,676,000. Amundi grew its holdings in shares of Fulton Financial by 187.4% during the fourth quarter. Amundi now owns 92,029 shares of the bank's stock worth $1,780,000 after buying an additional 60,005 shares in the last quarter. Finally, AlphaQuest LLC grew its holdings in shares of Fulton Financial by 16,041.2% during the fourth quarter. AlphaQuest LLC now owns 5,488 shares of the bank's stock worth $106,000 after buying an additional 5,454 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors.

Fulton Financial Price Performance

Fulton Financial stock traded down $0.02 during mid-day trading on Wednesday, reaching $19.00. 4,031,029 shares of the company were exchanged, compared to its average volume of 1,428,912. The company has a fifty day simple moving average of $17.89 and a 200-day simple moving average of $18.32. Fulton Financial Corporation has a 12 month low of $14.33 and a 12 month high of $22.49. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $3.45 billion, a PE ratio of 11.18 and a beta of 0.77.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.12. Fulton Financial had a return on equity of 12.19% and a net margin of 16.59%. The firm had revenue of $328.45 million for the quarter, compared to analyst estimates of $320.47 million. During the same quarter last year, the company earned $0.52 EPS. As a group, equities research analysts expect that Fulton Financial Corporation will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.18 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.72 annualized dividend and a dividend yield of 3.79%. Fulton Financial's payout ratio is 42.35%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. DA Davidson reiterated a "neutral" rating and set a $20.00 price objective on shares of Fulton Financial in a report on Wednesday, April 16th. Jefferies Financial Group reissued a "hold" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Finally, Piper Sandler reiterated a "neutral" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $20.88.

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.