Emerald Advisers LLC Decreases Stock Holdings in Fulton Financial Corporation (NASDAQ:FULT)

Emerald Advisers LLC decreased its position in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 63.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 431,147 shares of the bank's stock after selling 739,773 shares during the period. Emerald Advisers LLC owned approximately 0.24% of Fulton Financial worth $7,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Fulton Financial by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank's stock valued at $45,837,000 after purchasing an additional 19,329 shares during the period. Federated Hermes Inc. lifted its stake in Fulton Financial by 6.3% in the fourth quarter. Federated Hermes Inc. now owns 291,302 shares of the bank's stock worth $5,616,000 after acquiring an additional 17,182 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Fulton Financial by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,303 shares of the bank's stock worth $657,000 after acquiring an additional 684 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Fulton Financial in the first quarter worth about $287,000. Finally, Silver Oak Securities Incorporated purchased a new stake in Fulton Financial in the first quarter worth about $333,000. Institutional investors own 72.02% of the company's stock.

Fulton Financial Stock Performance

NASDAQ:FULT traded down $0.30 during midday trading on Friday, hitting $19.11. The company's stock had a trading volume of 1,638,433 shares, compared to its average volume of 1,403,591. Fulton Financial Corporation has a fifty-two week low of $14.33 and a fifty-two week high of $22.49. The firm's 50 day moving average is $17.81 and its 200-day moving average is $18.33. 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 $3.47 billion, a P/E ratio of 11.24 and a beta of 0.77.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its quarterly 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 net margin of 16.59% and a return on equity of 12.19%. The company had revenue of $322.64 million for the quarter, compared to the consensus estimate of $315.07 million. During the same quarter in the prior year, the company earned $0.40 EPS. Equities analysts anticipate that Fulton Financial Corporation will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a $0.18 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.72 annualized dividend and a yield of 3.77%. Fulton Financial's dividend payout ratio is presently 42.35%.

Analysts Set New Price Targets

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

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.