Voya Investment Management LLC Buys 173,888 Shares of Fulton Financial Co. (NASDAQ:FULT)

Voya Investment Management LLC raised its stake in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 108.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 334,344 shares of the bank's stock after purchasing an additional 173,888 shares during the quarter. Voya Investment Management LLC owned 0.18% of Fulton Financial worth $6,446,000 as of its most recent filing with the Securities and Exchange Commission.

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

Fulton Financial Price Performance

FULT traded up $0.45 during trading on Friday, reaching $17.36. The stock had a trading volume of 959,523 shares, compared to its average volume of 1,477,809. The stock has a market cap of $3.16 billion, a PE ratio of 11.06 and a beta of 0.76. The business has a 50-day moving average of $17.26 and a 200-day moving average of $19.12. Fulton Financial Co. has a one year low of $14.33 and a one 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.

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

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Tuesday, April 1st. Fulton Financial's payout ratio is 42.35%.

Analyst Ratings Changes

A number of research firms recently commented on FULT. Piper Sandler lowered their price objective 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. DA Davidson restated a "neutral" rating and set a $20.00 target price on shares of Fulton Financial in a report on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their price objective on Fulton Financial from $24.00 to $21.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. StockNews.com raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Finally, Hovde Group raised their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a "market perform" rating in a report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $19.83.

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.