Raymond James Financial Inc. bought a new stake in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 86,940 shares of the bank's stock, valued at approximately $1,676,000.
Several other institutional investors have also recently added to or reduced their stakes in FULT. Blue Trust Inc. lifted its position in shares of Fulton Financial by 10.3% in the 4th quarter. Blue Trust Inc. now owns 5,455 shares of the bank's stock worth $99,000 after acquiring an additional 509 shares during the period. SRS Capital Advisors Inc. raised its holdings in Fulton Financial by 0.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 91,464 shares of the bank's stock worth $1,763,000 after purchasing an additional 523 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Fulton Financial by 57.1% during the fourth 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 in the last quarter. HighTower Advisors LLC lifted its position in Fulton Financial by 1.4% during the 4th quarter. HighTower Advisors LLC now owns 63,321 shares of the bank's stock worth $1,221,000 after buying an additional 849 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Fulton Financial by 193.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock valued at $25,000 after purchasing an additional 853 shares during the last quarter. Institutional investors own 72.02% of the company's stock.
Fulton Financial Price Performance
Fulton Financial stock traded up $0.45 during trading on Friday, reaching $17.36. The company had a trading volume of 959,523 shares, compared to its average volume of 1,476,703. The firm's 50-day simple moving average is $17.26 and its 200 day simple moving average is $19.13. Fulton Financial Co. has a 1-year low of $14.33 and a 1-year high of $22.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $3.16 billion, a PE ratio of 11.06 and a beta of 0.76.
Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $322.64 million for the quarter, compared to the consensus estimate of $315.07 million. During the same quarter in the previous year, the business earned $0.40 EPS. As a group, equities research analysts anticipate that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.
Fulton Financial Dividend Announcement
The business 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 dividend on an annualized basis and a yield of 4.15%. Fulton Financial's dividend payout ratio (DPR) is presently 42.35%.
Wall Street Analyst Weigh In
FULT has been the subject of a number of analyst reports. 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. Keefe, Bruyette & Woods dropped their target price on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Hovde Group raised their target price on Fulton Financial from $22.00 to $22.50 and gave the stock a "market perform" rating in a research note on Monday, January 27th. StockNews.com raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Finally, Piper Sandler lowered their target price on Fulton Financial from $22.00 to $20.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Fulton Financial has an average rating of "Hold" and an average price target of $19.83.
View Our Latest Stock 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.
Further Reading
Before you consider Fulton Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fulton Financial wasn't on the list.
While Fulton Financial currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are hedge funds and endowments buying in today's market? Enter your email address and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying now.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
