Fulton Financial Co. (NASDAQ:FULT) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in Fulton Financial Co. (NASDAQ:FULT) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,444,753 shares of the bank’s stock after buying an additional 216,465 shares during the period. Vanguard Group Inc. owned 12.00% of Fulton Financial worth $320,061,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. OLD Point Trust & Financial Services N A purchased a new stake in Fulton Financial during the fourth quarter valued at about $38,000. Rafferty Asset Management LLC raised its holdings in Fulton Financial by 53.7% in the fourth quarter. Rafferty Asset Management LLC now owns 270,480 shares of the bank’s stock valued at $4,452,000 after buying an additional 94,538 shares during the period. CIBC Asset Management Inc lifted its position in Fulton Financial by 62.2% during the fourth quarter. CIBC Asset Management Inc now owns 16,490 shares of the bank’s stock valued at $271,000 after buying an additional 6,322 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new stake in Fulton Financial during the fourth quarter worth approximately $548,000. Finally, TFO Wealth Partners LLC increased its position in shares of Fulton Financial by 76,320.0% in the fourth quarter. TFO Wealth Partners LLC now owns 7,642 shares of the bank’s stock worth $126,000 after acquiring an additional 7,632 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Performance

Shares of FULT opened at $16.98 on Friday. Fulton Financial Co. has a 52-week low of $11.47 and a 52-week high of $17.68. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.35. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 10.55 and a beta of 0.75. The business’s 50 day moving average is $16.57 and its two-hundred day moving average is $15.99.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, April 16th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The firm had revenue of $230.36 million for the quarter, compared to analysts’ expectations of $268.90 million. Fulton Financial had a net margin of 18.31% and a return on equity of 11.73%. Analysts forecast that Fulton Financial Co. will post 1.55 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a $0.17 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.68 dividend on an annualized basis and a yield of 4.00%. Fulton Financial’s dividend payout ratio (DPR) is 42.24%.

Wall Street Analyst Weigh In

FULT has been the subject of a number of research reports. Jefferies Financial Group decreased their price target on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Janney Montgomery Scott raised Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 target price for the company in a research report on Monday, April 29th. Stephens raised their target price on Fulton Financial from $15.50 to $17.50 and gave the company an “equal weight” rating in a report on Tuesday, May 7th. DA Davidson boosted their price target on Fulton Financial from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Fulton Financial from $17.00 to $19.00 and gave the company a “market perform” rating in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $18.00.

Fulton Financial Profile

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.