Fulton Financial Corporation (NASDAQ:FULT) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its stake in shares of Fulton Financial Corporation (NASDAQ:FULT) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,303 shares of the bank’s stock after acquiring an additional 684 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Fulton Financial were worth $657,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of FULT. Jones Financial Companies Lllp grew its holdings in Fulton Financial by 193.4% in the fourth 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 during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Fulton Financial by 57.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank’s stock valued at $42,000 after buying an additional 800 shares during the period. GAMMA Investing LLC increased its holdings in shares of Fulton Financial by 42.2% during the 1st quarter. GAMMA Investing LLC now owns 3,072 shares of the bank’s stock worth $56,000 after buying an additional 911 shares during the last quarter. Covestor Ltd raised its position in shares of Fulton Financial by 196.9% in the 4th quarter. Covestor Ltd now owns 3,976 shares of the bank’s stock worth $76,000 after buying an additional 2,637 shares during the period. Finally, AlphaQuest LLC raised its holdings in shares of Fulton Financial by 16,041.2% in the 4th quarter. AlphaQuest LLC now owns 5,488 shares of the bank’s stock worth $106,000 after purchasing an additional 5,454 shares during the period. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on FULT. DA Davidson reiterated a “neutral” rating and issued a $20.00 price target on shares of Fulton Financial in a report on Wednesday, April 16th. Piper Sandler cut their price objective on shares of Fulton Financial from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, 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 research report on Thursday, April 17th. 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.com, Fulton Financial currently has an average rating of “Hold” and an average price target of $20.88.

Fulton Financial Stock Up 1.1%

Shares of NASDAQ:FULT opened at $19.10 on Friday. The firm has a market cap of $3.47 billion, a PE ratio of 11.23 and a beta of 0.77. The company has a fifty day simple moving average of $17.54 and a 200 day simple moving average of $18.37. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36. Fulton Financial Corporation has a 12-month low of $14.33 and a 12-month high of $22.49.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.08. Fulton Financial had a net margin of 16.59% and a return on equity of 12.19%. The company had revenue of $322.64 million during the quarter, compared to the consensus estimate of $315.07 million. During the same quarter in the previous year, the firm earned $0.40 EPS. On average, equities research analysts anticipate that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.77%. The ex-dividend date is Tuesday, July 1st. Fulton Financial’s payout ratio is currently 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.