Fulton Financial Co. (NASDAQ:FULT) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its position in Fulton Financial Co. (NASDAQ:FULT) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,619 shares of the bank’s stock after purchasing an additional 3,604 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Fulton Financial were worth $687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of Fulton Financial by 193.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank’s stock valued at $25,000 after purchasing an additional 853 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Fulton Financial by 57.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank’s stock worth $42,000 after acquiring an additional 800 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new position in Fulton Financial during the 4th quarter worth approximately $44,000. Covestor Ltd lifted its position in Fulton Financial by 196.9% during the 4th quarter. Covestor Ltd now owns 3,976 shares of the bank’s stock worth $76,000 after acquiring an additional 2,637 shares in the last quarter. Finally, AlphaQuest LLC lifted its position in Fulton Financial by 16,041.2% during the 4th quarter. AlphaQuest LLC now owns 5,488 shares of the bank’s stock worth $106,000 after acquiring an additional 5,454 shares in the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Trading Up 1.4%

FULT opened at $17.85 on Wednesday. The stock has a market capitalization of $3.25 billion, a PE ratio of 11.37 and a beta of 0.77. The firm’s fifty day moving average price is $16.86 and its 200 day moving average price is $18.76. 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 12-month low of $14.33 and a 12-month high of $22.49.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. The firm had revenue of $322.64 million for the quarter, compared to analysts’ expectations of $315.07 million. During the same period in the prior year, the company posted $0.40 earnings per share. As a group, research analysts expect that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.03%. Fulton Financial’s dividend payout ratio (DPR) is 42.35%.

Analysts Set New Price Targets

Several equities analysts recently commented on FULT shares. Keefe, Bruyette & Woods reduced their price target on Fulton Financial from $24.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, April 17th. DA Davidson reissued a “neutral” rating and set a $20.00 price target on shares of Fulton Financial in a research report on Wednesday, April 16th. Finally, Piper Sandler reduced their price target on Fulton Financial from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.30.

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.