Rhumbline Advisers Sells 25,985 Shares of Fulton Financial Co. (NASDAQ:FULT)

Rhumbline Advisers reduced its holdings in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 520,709 shares of the bank's stock after selling 25,985 shares during the quarter. Rhumbline Advisers owned 0.29% of Fulton Financial worth $9,420,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FULT. Apollon Wealth Management LLC purchased a new position in shares of Fulton Financial in the fourth quarter worth approximately $329,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Fulton Financial in the 4th quarter worth about $301,000. Stonebridge Financial Group LLC acquired a new position in shares of Fulton Financial in the 4th quarter valued at about $166,000. Legato Capital Management LLC lifted its position in shares of Fulton Financial by 498.0% in the fourth quarter. Legato Capital Management LLC now owns 63,641 shares of the bank's stock worth $1,227,000 after purchasing an additional 52,998 shares in the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Fulton Financial during the fourth quarter worth approximately $44,000. 72.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FULT has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their price objective on Fulton Financial from $24.00 to $21.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Piper Sandler dropped their price objective on shares of Fulton Financial from $22.00 to $20.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Finally, DA Davidson restated a "neutral" rating and issued a $20.00 price target on shares of Fulton Financial in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Fulton Financial presently has a consensus rating of "Hold" and a consensus target price of $20.30.

Fulton Financial Stock Down 1.9%

NASDAQ FULT traded down $0.33 during trading on Friday, hitting $17.16. The stock had a trading volume of 1,324,238 shares, compared to its average volume of 1,411,536. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial Co. has a 12 month low of $14.33 and a 12 month high of $22.49. The company has a market capitalization of $3.12 billion, a PE ratio of 10.93 and a beta of 0.77. The company's 50-day moving average price is $16.96 and its two-hundred day moving average price is $18.72.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. The business had revenue of $322.64 million during the quarter, compared to the consensus estimate of $315.07 million. During the same quarter last year, the firm earned $0.40 earnings per share. As a group, sell-side analysts forecast that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 4.20%. Fulton Financial's payout ratio is presently 42.35%.

Fulton Financial Company 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.