Millennium Management LLC Purchases 886,991 Shares of Fulton Financial Co. (NASDAQ:FULT)

Millennium Management LLC grew its holdings in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 149.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,478,735 shares of the bank's stock after buying an additional 886,991 shares during the period. Millennium Management LLC owned 0.81% of Fulton Financial worth $28,510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Fulton Financial by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 22,383,504 shares of the bank's stock worth $431,554,000 after acquiring an additional 285,376 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Fulton Financial by 5.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,321,387 shares of the bank's stock worth $83,316,000 after purchasing an additional 216,118 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Fulton Financial by 35.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank's stock worth $49,782,000 after buying an additional 673,559 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Fulton Financial by 1.9% in the 4th quarter. Janus Henderson Group PLC now owns 2,517,149 shares of the bank's stock worth $48,530,000 after buying an additional 47,338 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Fulton Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank's stock valued at $45,837,000 after buying an additional 19,329 shares in the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FULT has been the topic of several analyst reports. Piper Sandler dropped their target price on Fulton Financial from $22.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Hovde Group increased 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 report on Monday, January 27th. StockNews.com raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. DA Davidson reiterated a "neutral" rating and set a $20.00 price target on shares of Fulton Financial in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Fulton Financial presently has a consensus rating of "Hold" and an average price target of $20.30.

Fulton Financial Price Performance

FULT opened at $18.00 on Tuesday. The company's 50-day simple moving average is $17.06 and its two-hundred day simple moving average is $19.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $3.27 billion, a P/E ratio of 11.46 and a beta of 0.76. 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 issued its quarterly earnings data 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 company had revenue of $322.64 million for the quarter, compared to the consensus estimate of $315.07 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. As a group, 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. Stockholders of record on Tuesday, April 1st were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.00%. Fulton Financial's dividend payout ratio (DPR) is currently 42.35%.

Fulton Financial 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.

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