Fulton Financial Co. (NASDAQ:FULT) Stock Position Boosted by Nuveen Asset Management LLC

Nuveen Asset Management LLC grew its stake in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 133.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,239,500 shares of the bank's stock after purchasing an additional 709,015 shares during the period. Nuveen Asset Management LLC owned approximately 0.68% of Fulton Financial worth $23,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its stake in shares of Fulton Financial by 193.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock valued at $25,000 after buying an additional 853 shares during the period. Nomura Asset Management Co. Ltd. increased its position 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. purchased a new stake in Fulton Financial in the 4th quarter valued at about $44,000. Covestor Ltd lifted its position in Fulton Financial by 196.9% in the fourth quarter. Covestor Ltd now owns 3,976 shares of the bank's stock valued at $76,000 after buying an additional 2,637 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake 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.

Analysts Set New Price Targets

Several analysts recently weighed in on FULT shares. Keefe, Bruyette & Woods dropped their target price on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Piper Sandler lowered 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, DA Davidson restated a "neutral" rating and issued a $20.00 price target on shares of Fulton Financial in a research note on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $20.30.

Fulton Financial Stock Performance

NASDAQ FULT traded down $0.16 during trading hours on Wednesday, reaching $17.38. The company's stock had a trading volume of 73,260 shares, compared to its average volume of 1,374,419. Fulton Financial Co. has a 52 week low of $14.32 and a 52 week high of $22.49. The stock has a market cap of $3.16 billion, a PE ratio of 11.08 and a beta of 0.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $16.98 and a 200 day simple moving average of $19.03.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. The company had revenue of $322.64 million for the quarter, compared to analysts' expectations of $315.07 million. During the same period last year, the business posted $0.40 earnings per share. Equities research analysts predict that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.14%. The ex-dividend date was Tuesday, April 1st. Fulton Financial's dividend payout ratio (DPR) is 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.