Northern Trust Corp Has $39.25 Million Stock Position in Fulton Financial Co. (NASDAQ:FULT)

Northern Trust Corp reduced its stake in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,035,629 shares of the bank's stock after selling 19,508 shares during the quarter. Northern Trust Corp owned 1.12% of Fulton Financial worth $39,247,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FULT. Jones Financial Companies Lllp lifted its stake in shares of Fulton Financial by 193.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock valued at $25,000 after buying an additional 853 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Fulton Financial by 57.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock worth $42,000 after acquiring an additional 800 shares during the period. McClarren Financial Advisors Inc. bought a new stake in shares of Fulton Financial during the fourth quarter valued at approximately $44,000. Covestor Ltd raised its stake in shares of Fulton Financial by 196.9% in the fourth quarter. Covestor Ltd now owns 3,976 shares of the bank's stock valued at $76,000 after purchasing an additional 2,637 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Fulton Financial by 10.3% in the fourth quarter. Blue Trust Inc. now owns 5,455 shares of the bank's stock worth $99,000 after purchasing an additional 509 shares during the period. 72.02% of the stock is owned by institutional investors.

Fulton Financial Stock Down 0.6 %

Shares of FULT opened at $17.40 on Friday. The company has a market capitalization of $3.17 billion, a P/E ratio of 11.08 and a beta of 0.76. Fulton Financial Co. has a one year low of $14.33 and a one year high of $22.49. The business's 50 day simple moving average is $17.04 and its 200-day simple moving average is $19.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its 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. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. The company had revenue of $322.64 million for the quarter, compared to analysts' expectations of $315.07 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. As a group, sell-side analysts predict that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend was Tuesday, April 1st. Fulton Financial's dividend payout ratio is presently 42.35%.

Analyst Upgrades and Downgrades

FULT has been the subject of a number of recent research reports. Keefe, Bruyette & Woods dropped their price objective 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. Piper Sandler dropped 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 report on Thursday, April 17th. Hovde Group lifted their price objective on Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a report on Monday, January 27th. StockNews.com raised Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $20.00 price target on shares of Fulton Financial in a research note on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Fulton Financial currently has an average 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.

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