Palisade Capital Management LP lessened its holdings in Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,505,168 shares of the bank's stock after selling 21,093 shares during the period. Palisade Capital Management LP owned 0.83% of Fulton Financial worth $27,228,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in FULT. Vanguard Group Inc. raised its position in shares of Fulton Financial by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 22,383,504 shares of the bank's stock valued at $431,554,000 after purchasing an additional 285,376 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in 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 valued at $83,316,000 after buying an additional 216,118 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Fulton Financial by 1.9% in the 4th quarter. Janus Henderson Group PLC now owns 2,517,149 shares of the bank's stock valued at $48,530,000 after acquiring an additional 47,338 shares during the period. Charles Schwab Investment Management Inc. lifted 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 worth $45,837,000 after acquiring an additional 19,329 shares during the last quarter. Finally, Norges Bank acquired a new stake in Fulton Financial during the fourth quarter worth approximately $38,010,000. Institutional investors and hedge funds own 72.02% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on FULT. DA Davidson reaffirmed a "neutral" rating and issued a $20.00 target price on shares of Fulton Financial in a research report on Wednesday, April 16th. Piper Sandler decreased their price objective on Fulton Financial from $22.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods lowered 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $20.30.
View Our Latest Analysis on Fulton Financial
Fulton Financial Trading Up 3.3%
Shares of NASDAQ:FULT opened at $19.13 on Thursday. The business's 50 day simple moving average is $17.49 and its 200 day simple moving average is $18.38. Fulton Financial Corporation 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 0.36, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $3.48 billion, a P/E ratio of 11.15 and a beta of 0.77.
Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.44 by $0.08. The business had revenue of $322.64 million during the quarter, compared to the consensus estimate of $315.07 million. Fulton Financial had a net margin of 16.59% and a return on equity of 12.19%. During the same period in the previous year, the business earned $0.40 earnings per share. On average, research analysts anticipate that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.
Fulton Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Tuesday, July 1st. Fulton Financial's dividend payout ratio (DPR) is presently 42.35%.
Fulton Financial Profile
(
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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