Fulton Financial Co. (NASDAQ:FULT) Shares Purchased by Millennium Management LLC

Millennium Management LLC lifted its position in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 149.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,478,735 shares of the bank's stock after purchasing an additional 886,991 shares during the quarter. Millennium Management LLC owned about 0.81% of Fulton Financial worth $28,510,000 as of its most recent filing with the SEC.

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

Fulton Financial Trading Down 0.6%

Shares of Fulton Financial stock traded down $0.11 on Friday, reaching $17.16. The company had a trading volume of 769,356 shares, compared to its average volume of 1,435,985. The firm has a market cap of $3.12 billion, a PE ratio of 10.93 and a beta of 0.76. The firm's 50 day moving average price is $17.02 and its two-hundred day moving average price is $19.06. 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 52-week low of $14.33 and a 52-week 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 earnings per share for the quarter, beating 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 business had revenue of $322.64 million during the quarter, compared to analysts' expectations of $315.07 million. During the same quarter last year, the business posted $0.40 EPS. Sell-side analysts predict that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. 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. Hovde Group raised 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. Piper Sandler reduced their target price on 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, Keefe, Bruyette & Woods dropped their price objective 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $20.30.

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.