GAMMA Investing LLC raised its stake in Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 2,471.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,572 shares of the bank's stock after purchasing an additional 53,411 shares during the quarter. GAMMA Investing LLC's holdings in Fulton Financial were worth $1,005,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in 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 acquiring an additional 19,329 shares during the period. Federated Hermes Inc. grew its holdings in shares of Fulton Financial by 6.3% during the 4th quarter. Federated Hermes Inc. now owns 291,302 shares of the bank's stock worth $5,616,000 after purchasing an additional 17,182 shares during the period. Allworth Financial LP increased its position in Fulton Financial by 1,255.1% during the 4th quarter. Allworth Financial LP now owns 20,381 shares of the bank's stock worth $420,000 after purchasing an additional 18,877 shares in the last quarter. Deutsche Bank AG increased its position in Fulton Financial by 50.1% during the 4th quarter. Deutsche Bank AG now owns 154,894 shares of the bank's stock worth $2,986,000 after purchasing an additional 51,670 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Fulton Financial by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 1,051,823 shares of the bank's stock valued at $20,279,000 after buying an additional 44,237 shares during the period. 72.02% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
FULT has been the subject of several recent research reports. DA Davidson reissued a "neutral" rating and issued a $20.00 price objective on shares of Fulton Financial in a research report on Wednesday, April 16th. Piper Sandler lowered their price target on Fulton Financial from $22.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods cut their price objective 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. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $20.30.
Check Out Our Latest Stock Report on Fulton Financial
Fulton Financial Stock Up 0.5%
FULT stock traded up $0.09 during trading on Friday, reaching $17.19. The stock had a trading volume of 912,708 shares, compared to its average volume of 1,418,442. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average price of $17.10 and a 200 day moving average price of $18.57. The company has a market capitalization of $3.12 billion, a P/E ratio of 10.11 and a beta of 0.77. Fulton Financial Corporation has a 1-year low of $14.33 and a 1-year high of $22.49.
Fulton Financial (NASDAQ:FULT - Get Free Report) last released its quarterly 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 12.19% and a net margin of 16.59%. The business 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 firm posted $0.40 earnings per share. On average, equities analysts anticipate that Fulton Financial Corporation will post 1.91 earnings per share for the current year.
Fulton Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Tuesday, July 1st. Fulton Financial's payout ratio is currently 42.35%.
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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