Vanguard Group Inc. Has $320.06 Million Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Vanguard Group Inc. grew its position in Fulton Financial Co. (NASDAQ:FULT) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 19,444,753 shares of the bank’s stock after buying an additional 216,465 shares during the period. Vanguard Group Inc. owned 0.12% of Fulton Financial worth $320,061,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Fulton Financial by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock valued at $196,188,000 after acquiring an additional 297,923 shares during the last quarter. American Century Companies Inc. increased its position in shares of Fulton Financial by 16.0% in the third quarter. American Century Companies Inc. now owns 1,682,119 shares of the bank’s stock valued at $20,370,000 after acquiring an additional 232,462 shares during the last quarter. Rafferty Asset Management LLC increased its position in shares of Fulton Financial by 53.7% during the 4th quarter. Rafferty Asset Management LLC now owns 270,480 shares of the bank’s stock worth $4,452,000 after purchasing an additional 94,538 shares during the last quarter. New York State Common Retirement Fund raised its position in Fulton Financial by 1.4% during the fourth quarter. New York State Common Retirement Fund now owns 481,189 shares of the bank’s stock worth $7,920,000 after acquiring an additional 6,484 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in Fulton Financial by 124.6% in the fourth quarter. Truist Financial Corp now owns 54,392 shares of the bank’s stock valued at $895,000 after acquiring an additional 30,176 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Performance

NASDAQ FULT opened at $16.98 on Friday. The firm has a 50-day moving average price of $16.57 and a two-hundred day moving average price of $15.99. Fulton Financial Co. has a 12-month low of $11.47 and a 12-month high of $17.68. The company has a market capitalization of $3.09 billion, a P/E ratio of 10.55 and a beta of 0.75. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.35.

Fulton Financial (NASDAQ:FULT) last issued 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. Fulton Financial had a return on equity of 11.73% and a net margin of 18.31%. The business had revenue of $230.36 million during the quarter, compared to analysts’ expectations of $268.90 million. Analysts anticipate that Fulton Financial Co. will post 1.55 earnings per share for the current year.

Fulton Financial Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have issued reports on FULT. Janney Montgomery Scott upgraded Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price objective on the stock in a research note on Monday, April 29th. Keefe, Bruyette & Woods raised their price target on Fulton Financial from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Tuesday, April 30th. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Jefferies Financial Group cut their target price on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Finally, DA Davidson upped their price target on shares of Fulton Financial from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.00.

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.