Hsbc Holdings PLC Purchases 21,755 Shares of Fulton Financial Co. (NASDAQ:FULT)

Hsbc Holdings PLC grew its holdings in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 43.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,211 shares of the bank's stock after purchasing an additional 21,755 shares during the period. Hsbc Holdings PLC's holdings in Fulton Financial were worth $1,397,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Fulton Financial during the 4th quarter valued at $38,010,000. JPMorgan Chase & Co. raised its stake in shares of Fulton Financial by 137.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,322,616 shares of the bank's stock worth $25,500,000 after purchasing an additional 765,313 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Fulton Financial by 61.7% during the 4th quarter. First Trust Advisors LP now owns 1,770,377 shares of the bank's stock valued at $34,133,000 after buying an additional 675,819 shares during the last quarter. Fisher Asset Management LLC increased its holdings 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 worth $49,782,000 after buying an additional 673,559 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC raised its position in Fulton Financial by 95.8% during the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 1,333,772 shares of the bank's stock valued at $25,715,000 after acquiring an additional 652,531 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Fulton Financial Stock Performance

FULT traded up $0.17 during midday trading on Thursday, reaching $17.29. The company's stock had a trading volume of 74,366 shares, compared to its average volume of 1,457,833. Fulton Financial Co. has a twelve month low of $14.33 and a twelve month high of $22.49. The stock has a market cap of $3.15 billion, a P/E ratio of 11.01 and a beta of 0.76. The company has a fifty day simple moving average of $17.11 and a 200 day simple moving average of $19.09. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32.

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

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 4.16%. Fulton Financial's dividend payout ratio is 42.35%.

Wall Street Analyst Weigh In

FULT has been the topic of several analyst reports. 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 reduced their price target on Fulton Financial from $22.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. StockNews.com raised Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Hovde Group boosted their target price on Fulton Financial from $22.00 to $22.50 and gave the stock a "market perform" rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods lowered their price target on 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Fulton Financial currently has a consensus rating of "Hold" and an average target price 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.