Rafferty Asset Management LLC Sells 21,902 Shares of Fulton Financial Co. (NASDAQ:FULT)

Rafferty Asset Management LLC trimmed its position in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,189 shares of the bank's stock after selling 21,902 shares during the period. Rafferty Asset Management LLC owned about 0.15% of Fulton Financial worth $5,325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FULT. Barclays PLC grew its position in shares of Fulton Financial by 79.4% in the third quarter. Barclays PLC now owns 420,636 shares of the bank's stock valued at $7,626,000 after purchasing an additional 186,215 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Fulton Financial in the fourth quarter valued at about $632,000. Stillwater Capital Advisors LLC acquired a new stake in shares of Fulton Financial in the fourth quarter valued at about $540,000. Blue Trust Inc. grew 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 in the last quarter. Finally, KBC Group NV grew its position in Fulton Financial by 69.3% during the fourth quarter. KBC Group NV now owns 8,517 shares of the bank's stock worth $164,000 after buying an additional 3,487 shares in the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Trading Down 0.5%

Shares of NASDAQ:FULT traded down $0.09 during mid-day trading on Tuesday, reaching $17.91. 766,923 shares of the company's stock were exchanged, compared to its average volume of 1,438,324. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 11.41 and a beta of 0.76. 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 twelve month low of $14.33 and a twelve month high of $22.49. The business's fifty day moving average price is $17.07 and its 200-day moving average price is $19.11.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, topping 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 analyst estimates of $315.07 million. During the same quarter in the prior year, the business posted $0.40 EPS. On average, research analysts predict that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 4.02%. Fulton Financial's payout ratio is 42.35%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Fulton Financial from a "sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Hovde Group raised their price target on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a "market perform" rating in a research note on Monday, January 27th. DA Davidson restated a "neutral" rating and set a $20.00 price target on shares of Fulton Financial in a research note on Wednesday, April 16th. Piper Sandler cut their price target on shares of 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 cut 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 research note on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company has an average 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.