Good Life Advisors LLC Makes New $830,000 Investment in Fulton Financial Co. (NASDAQ:FULT)

Good Life Advisors LLC bought a new stake in Fulton Financial Co. (NASDAQ:FULT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 45,772 shares of the bank’s stock, valued at approximately $830,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Fulton Financial by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock valued at $320,061,000 after acquiring an additional 216,465 shares during the period. Principal Financial Group Inc. boosted its holdings in Fulton Financial by 10.9% in the first quarter. Principal Financial Group Inc. now owns 948,319 shares of the bank’s stock valued at $15,069,000 after acquiring an additional 92,992 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Fulton Financial by 34.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 198,185 shares of the bank’s stock valued at $3,149,000 after purchasing an additional 50,842 shares during the period. Fortis Group Advisors LLC bought a new position in Fulton Financial during the 1st quarter worth approximately $185,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Fulton Financial by 78.8% in the 1st quarter. BNP Paribas Financial Markets now owns 83,162 shares of the bank’s stock worth $1,321,000 after purchasing an additional 36,663 shares during the period. 72.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Piper Sandler set a $21.00 price objective on Fulton Financial in a research note on Thursday. Finally, StockNews.com raised 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.83.

Fulton Financial Stock Performance

Shares of FULT opened at $18.08 on Friday. Fulton Financial Co. has a one year low of $11.99 and a one year high of $20.33. The company has a market cap of $3.29 billion, a PE ratio of 11.23 and a beta of 0.73. The stock has a 50-day moving average of $18.12 and a 200-day moving average of $17.28. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.93 and a quick ratio of 0.93.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Fulton Financial had a return on equity of 11.29% and a net margin of 17.93%. The firm had revenue of $487.33 million during the quarter, compared to analysts’ expectations of $321.00 million. During the same quarter last year, the firm posted $0.43 earnings per share. On average, equities research analysts predict that Fulton Financial Co. will post 1.73 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.68 annualized dividend and a yield of 3.76%. Fulton Financial’s payout ratio is 42.24%.

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.