Man Group plc Raises Position in Fulton Financial Co. (NASDAQ:FULT)

Man Group plc raised its stake in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 182.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,286 shares of the bank's stock after purchasing an additional 33,107 shares during the period. Man Group plc's holdings in Fulton Financial were worth $989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position in shares of Fulton Financial by 193.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock worth $25,000 after acquiring an additional 853 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Fulton Financial by 57.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock worth $42,000 after buying an additional 800 shares during the period. McClarren Financial Advisors Inc. acquired a new position in Fulton Financial during the fourth quarter worth approximately $44,000. Covestor Ltd increased its position in Fulton Financial by 196.9% during the fourth quarter. Covestor Ltd now owns 3,976 shares of the bank's stock worth $76,000 after buying an additional 2,637 shares during the period. Finally, Blue Trust Inc. increased its position in Fulton Financial by 10.3% during the fourth quarter. Blue Trust Inc. now owns 5,455 shares of the bank's stock worth $99,000 after buying an additional 509 shares during the period. Institutional investors and hedge funds own 72.02% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on FULT shares. Piper Sandler lowered their target price 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. DA Davidson reiterated a "neutral" rating and issued a $20.00 target price on shares of Fulton Financial in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods lowered their target price on 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Fulton Financial presently has a consensus rating of "Hold" and an average target price of $20.30.

Fulton Financial Trading Up 0.1%

Fulton Financial stock traded up $0.02 during trading on Thursday, hitting $17.25. The company's stock had a trading volume of 89,157 shares, compared to its average volume of 1,425,239. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 10.99 and a beta of 0.76. The stock's fifty day moving average is $16.97 and its 200 day moving average is $19.01. Fulton Financial Co. has a 1-year low of $14.33 and a 1-year high of $22.49. 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 (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.44 by $0.08. The firm had revenue of $322.64 million during 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 period in the prior year, the firm posted $0.40 earnings per share. As a group, 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. Shareholders of record on Tuesday, April 1st were paid 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 4.17%. Fulton Financial's dividend payout ratio is presently 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.