Fulton Financial Co. (NASDAQ:FULT) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its position in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 37.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,746 shares of the bank's stock after selling 29,202 shares during the period. Lazard Asset Management LLC's holdings in Fulton Financial were worth $938,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in FULT. Norges Bank purchased a new position in shares of Fulton Financial in the 4th quarter valued at about $38,010,000. JPMorgan Chase & Co. raised its holdings in shares of Fulton Financial by 137.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,322,616 shares of the bank's stock worth $25,500,000 after acquiring an additional 765,313 shares during the period. First Trust Advisors LP increased its holdings in shares of Fulton Financial by 61.7% during the 4th quarter. First Trust Advisors LP now owns 1,770,377 shares of the bank's stock worth $34,133,000 after buying an additional 675,819 shares during the last quarter. Fisher Asset Management LLC raised its position 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 period. Finally, Cramer Rosenthal Mcglynn LLC lifted its position in Fulton Financial by 95.8% in the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 1,333,772 shares of the bank's stock valued at $25,715,000 after buying an additional 652,531 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company's stock.

Fulton Financial Trading Down 0.5%

NASDAQ:FULT opened at $17.91 on Wednesday. Fulton Financial Co. has a 12-month low of $14.33 and a 12-month high of $22.49. The firm has a market capitalization of $3.26 billion, a P/E ratio of 11.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. The business has a 50 day simple moving average of $17.07 and a 200 day simple moving average of $19.11.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its earnings results on Tuesday, April 15th. The bank reported $0.52 EPS 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 for the quarter, compared to analysts' expectations of $315.07 million. During the same quarter in the previous year, the company earned $0.40 earnings per share. Equities research analysts predict that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date was Tuesday, April 1st. Fulton Financial's dividend payout ratio (DPR) is presently 42.35%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FULT. StockNews.com upgraded Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Hovde Group lifted their price objective on shares of Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a research note on Monday, January 27th. DA Davidson restated a "neutral" rating and issued a $20.00 target price on shares of Fulton Financial in a research note on Wednesday, April 16th. Piper Sandler decreased their price target on Fulton Financial from $22.00 to $20.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $20.30.

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.

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