Rhumbline Advisers lowered its holdings in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 4.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 520,709 shares of the bank's stock after selling 25,985 shares during the period. Rhumbline Advisers owned approximately 0.29% of Fulton Financial worth $9,420,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in 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 during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Fulton Financial by 57.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock valued at $42,000 after purchasing an additional 800 shares during the period. McClarren Financial Advisors Inc. purchased a new position in shares of Fulton Financial during the fourth quarter worth approximately $44,000. Covestor Ltd increased its stake in Fulton Financial by 196.9% in the fourth quarter. Covestor Ltd now owns 3,976 shares of the bank's stock valued at $76,000 after purchasing an additional 2,637 shares during the period. Finally, AlphaQuest LLC increased its position in Fulton Financial by 16,041.2% in the 4th quarter. AlphaQuest LLC now owns 5,488 shares of the bank's stock valued at $106,000 after acquiring an additional 5,454 shares during the period. Hedge funds and other institutional investors own 72.02% of the company's stock.
Fulton Financial Trading Down 0.9%
Shares of FULT traded down $0.16 during mid-day trading on Thursday, reaching $17.41. The company had a trading volume of 278,025 shares, compared to its average volume of 1,405,752. Fulton Financial Co. has a fifty-two week low of $14.33 and a fifty-two week high of $22.49. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 11.09 and a beta of 0.77. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $16.91 and a 200-day simple moving average of $18.76.
Fulton Financial (NASDAQ:FULT - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.08. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. The company had revenue of $322.64 million during the quarter, compared to analyst estimates of $315.07 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, sell-side analysts anticipate that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.
Fulton Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders 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 dividend yield of 4.14%. The ex-dividend date was Tuesday, April 1st. Fulton Financial's payout ratio is 42.35%.
Analyst Ratings Changes
FULT has been the subject of a number of analyst reports. DA Davidson restated a "neutral" rating and set a $20.00 price objective on shares of Fulton Financial in a research report on Wednesday, April 16th. Piper Sandler cut their target price on shares of Fulton Financial from $22.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $20.30.
Check Out Our Latest Stock Analysis on FULT
About Fulton Financial
(
Free Report)
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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