Voloridge Investment Management LLC Raises Position in Fulton Financial Co. (NASDAQ:FULT)

Voloridge Investment Management LLC increased its holdings in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 85.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 438,043 shares of the bank's stock after acquiring an additional 202,347 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.24% of Fulton Financial worth $8,445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Fulton Financial by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 22,383,504 shares of the bank's stock valued at $431,554,000 after acquiring an additional 285,376 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Fulton Financial by 5.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,321,387 shares of the bank's stock worth $83,316,000 after purchasing an additional 216,118 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Fulton Financial by 35.3% in the fourth quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank's stock valued at $49,782,000 after purchasing an additional 673,559 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Fulton Financial by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 2,517,149 shares of the bank's stock valued at $48,530,000 after buying an additional 47,338 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Fulton Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank's stock worth $45,837,000 after buying an additional 19,329 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Fulton Financial Stock Performance

Shares of NASDAQ FULT traded down $0.31 during trading hours on Wednesday, reaching $17.23. The stock had a trading volume of 612,524 shares, compared to its average volume of 1,430,431. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 10.97 and a beta of 0.76. Fulton Financial Co. has a fifty-two week low of $14.33 and a fifty-two week high of $22.49. The firm has a 50-day moving average of $16.98 and a 200-day moving average of $19.03. 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 released its quarterly earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.08. The firm 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 quarter last year, the company posted $0.40 earnings per share. Equities research analysts predict that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Dividend Announcement

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. The ex-dividend date was Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 4.18%. Fulton Financial's payout ratio is 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.