Fulton Financial Co. (NASDAQ:FULT) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its position in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 22.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,254,985 shares of the bank's stock after selling 372,901 shares during the quarter. Ameriprise Financial Inc. owned 0.69% of Fulton Financial worth $24,204,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Fulton Financial by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 22,383,504 shares of the bank's stock valued at $431,554,000 after buying an additional 285,376 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in Fulton Financial by 5.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,321,387 shares of the bank's stock valued at $83,316,000 after purchasing an additional 216,118 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Fulton Financial by 35.3% in the fourth quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank's stock valued at $49,782,000 after acquiring an additional 673,559 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Fulton Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank's stock worth $45,837,000 after buying an additional 19,329 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Fulton Financial in the fourth quarter valued at approximately $38,010,000. Institutional investors and hedge funds own 72.02% of the company's stock.

Fulton Financial Trading Down 0.1%

FULT stock traded down $0.01 during midday trading on Tuesday, reaching $17.99. The company's stock had a trading volume of 49,845 shares, compared to its average volume of 1,437,234. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 11.45 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 1 year low of $14.33 and a 1 year high of $22.49. The stock has a fifty day simple moving average of $17.06 and a two-hundred day simple moving average of $19.12.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its quarterly earnings data 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 firm 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 earned $0.40 earnings per share. On average, equities research analysts predict that Fulton Financial Co. will post 1.91 EPS for the current 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 issued a $0.18 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 4.00%. Fulton Financial's payout ratio is 42.35%.

Wall Street Analysts Forecast Growth

FULT has been the topic of a number of analyst reports. Hovde Group upped their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a research note on Monday, January 27th. Piper Sandler dropped their target price on Fulton Financial from $22.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. StockNews.com upgraded shares of Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. 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. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $20.30.

About Fulton Financial

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.