Vest Financial LLC purchased a new stake in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 83,529 shares of the bank's stock, valued at approximately $1,511,000.
Several other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Fulton Financial in the fourth quarter worth about $38,010,000. Millennium Management LLC boosted its stake in shares of Fulton Financial by 149.9% in the fourth quarter. Millennium Management LLC now owns 1,478,735 shares of the bank's stock worth $28,510,000 after buying an additional 886,991 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Fulton Financial by 137.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,322,616 shares of the bank's stock worth $25,500,000 after buying an additional 765,313 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Fulton Financial by 133.7% during the fourth quarter. Nuveen Asset Management LLC now owns 1,239,500 shares of the bank's stock worth $23,898,000 after purchasing an additional 709,015 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in Fulton Financial by 61.7% during the fourth quarter. First Trust Advisors LP now owns 1,770,377 shares of the bank's stock worth $34,133,000 after purchasing an additional 675,819 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company's stock.
Fulton Financial Stock Performance
NASDAQ FULT opened at $17.44 on Friday. 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's 50 day moving average is $16.84 and its two-hundred day moving average is $18.82. Fulton Financial Co. has a 12-month low of $14.33 and a 12-month high of $22.49. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 11.11 and a beta of 0.77.
Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. The business had revenue of $322.64 million for the quarter, compared to analyst estimates of $315.07 million. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same quarter in the previous year, the company earned $0.40 EPS. Research analysts expect that Fulton Financial Co. will post 1.91 EPS for the current year.
Fulton Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors 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 4.13%. The ex-dividend date of this dividend was Tuesday, April 1st. Fulton Financial's payout ratio is currently 42.35%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Piper Sandler lowered their price target on Fulton Financial from $22.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. DA Davidson reissued a "neutral" rating and set a $20.00 target price on shares of Fulton Financial in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut their target price on 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Fulton Financial has a consensus rating of "Hold" and a consensus target price of $20.30.
Check Out Our Latest Report on Fulton Financial
About Fulton Financial
(
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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