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

Blue Trust Inc. raised its position in Fulton Financial Co. (NASDAQ:FULT) by 28.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,946 shares of the bank’s stock after acquiring 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 SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of FULT. State Board of Administration of Florida Retirement System grew its position in Fulton Financial by 70.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 79,410 shares of the bank’s stock valued at $1,262,000 after purchasing an additional 32,941 shares during the period. Entropy Technologies LP acquired a new position in shares of Fulton Financial during the first quarter valued at about $452,000. BNP Paribas Financial Markets increased its position in shares of Fulton Financial by 78.8% during the first quarter. BNP Paribas Financial Markets now owns 83,162 shares of the bank’s stock worth $1,321,000 after acquiring an additional 36,663 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Fulton Financial in the 1st quarter worth about $1,941,000. Finally, Tidal Investments LLC bought a new position in Fulton Financial in the 1st quarter valued at about $807,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Performance

Shares of Fulton Financial stock opened at $17.97 on Wednesday. The business’s fifty day simple moving average is $18.12 and its 200 day simple moving average is $17.43. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.26. Fulton Financial Co. has a 12 month low of $12.52 and a 12 month high of $20.33. The firm 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 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The company had revenue of $487.33 million for the quarter, compared to analysts’ expectations of $321.00 million. Fulton Financial had a return on equity of 11.14% and a net margin of 16.37%. During the same period in the previous year, the business posted $0.43 EPS. As a group, analysts anticipate that Fulton Financial Co. will post 1.75 EPS for the current year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s payout ratio is 42.24%.

Analyst Ratings Changes

A number of brokerages have commented on FULT. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Jefferies Financial Group lowered their price target on Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Finally, Piper Sandler set a $21.00 price objective on Fulton Financial in a research note on Thursday, October 17th. Five 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.com, the company presently has an average rating of “Hold” and an average price target of $18.83.

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.