Russell Investments Group Ltd. Decreases Holdings in Fulton Financial Co. (NASDAQ:FULT)

Russell Investments Group Ltd. reduced its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 15.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,336 shares of the bank’s stock after selling 10,958 shares during the period. Russell Investments Group Ltd.’s holdings in Fulton Financial were worth $1,163,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FULT. Jones Financial Companies Lllp grew its stake in shares of Fulton Financial by 193.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank’s stock valued at $25,000 after buying an additional 853 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Fulton Financial by 57.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank’s stock worth $42,000 after buying an additional 800 shares during the period. McClarren Financial Advisors Inc. bought a new stake in Fulton Financial during the 4th quarter valued at $44,000. Blue Trust Inc. lifted its holdings in Fulton Financial by 10.3% in the 4th quarter. Blue Trust Inc. now owns 5,455 shares of the bank’s stock worth $99,000 after buying an additional 509 shares during the period. Finally, AlphaQuest LLC increased its stake in shares of Fulton Financial by 16,041.2% during the fourth quarter. AlphaQuest LLC now owns 5,488 shares of the bank’s stock valued at $106,000 after buying an additional 5,454 shares during the period. 72.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, President Angela M. Snyder sold 13,322 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares in the company, valued at approximately $1,317,580.58. This represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Fulton Financial from $24.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday. Piper Sandler lowered their target price on Fulton Financial from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday. DA Davidson reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Fulton Financial in a research note on Wednesday, April 16th. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Hovde Group raised their price objective on Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fulton Financial presently has a consensus rating of “Hold” and an average target price of $19.79.

Fulton Financial Stock Down 0.6 %

FULT stock opened at $15.88 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. Fulton Financial Co. has a 1-year low of $14.33 and a 1-year high of $22.49. The stock has a market capitalization of $2.89 billion, a P/E ratio of 10.11 and a beta of 0.68. The business has a fifty day moving average price of $17.98 and a 200-day moving average price of $19.21.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The business had revenue of $322.64 million during the quarter, compared to analyst estimates of $315.07 million. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same quarter in the previous year, the firm earned $0.40 EPS. Equities analysts forecast that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Tuesday, April 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 42.35%.

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.