Blue Trust Inc. Has $84,000 Stake in Fulton Financial Co. (NASDAQ:FULT)

Blue Trust Inc. grew its stake in Fulton Financial Co. (NASDAQ:FULT) by 28.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,946 shares of the bank’s stock after purchasing an additional 1,106 shares during the period. Blue Trust Inc.’s holdings in Fulton Financial were worth $84,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Miller Howard Investments Inc. NY boosted its position in Fulton Financial by 2.4% in the second quarter. Miller Howard Investments Inc. NY now owns 22,132 shares of the bank’s stock valued at $376,000 after buying an additional 527 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Fulton Financial by 3.7% during the 2nd quarter. CIBC Asset Management Inc now owns 16,883 shares of the bank’s stock valued at $287,000 after acquiring an additional 605 shares in the last quarter. Meridian Wealth Partners LLC boosted its holdings in shares of Fulton Financial by 4.7% during the 2nd quarter. Meridian Wealth Partners LLC now owns 27,557 shares of the bank’s stock valued at $468,000 after acquiring an additional 1,230 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in Fulton Financial by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 143,357 shares of the bank’s stock worth $2,278,000 after purchasing an additional 1,538 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in Fulton Financial by 14.3% in the second quarter. Los Angeles Capital Management LLC now owns 13,966 shares of the bank’s stock valued at $237,000 after purchasing an additional 1,750 shares during the last quarter. 72.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on FULT shares. Jefferies Financial Group reduced their price target on Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th. Finally, StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Fulton Financial has a consensus rating of “Hold” and an average price target of $18.83.

Fulton Financial Stock Down 1.1 %

Shares of NASDAQ FULT opened at $17.97 on Wednesday. The company’s 50 day moving average price is $18.12 and its 200-day moving average price is $17.43. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial Co. has a 52-week low of $12.52 and a 52-week high of $20.33. The company has a market capitalization of $3.27 billion, a P/E ratio of 11.16 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.14%. The business had revenue of $487.33 million for the quarter, compared to analyst estimates of $321.00 million. During the same quarter in the previous year, the business earned $0.43 earnings per share. Equities analysts forecast that Fulton Financial Co. will post 1.75 earnings per share for the current year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s dividend payout ratio (DPR) is 42.24%.

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.