Intech Investment Management LLC Acquires 18,471 Shares of Fulton Financial Corporation $FULT

Intech Investment Management LLC boosted its stake in Fulton Financial Corporation (NASDAQ:FULT) by 21.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,089 shares of the bank’s stock after purchasing an additional 18,471 shares during the quarter. Intech Investment Management LLC owned about 0.06% of Fulton Financial worth $1,865,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of FULT. Cetera Investment Advisers grew its holdings in Fulton Financial by 24.3% in the fourth quarter. Cetera Investment Advisers now owns 23,463 shares of the bank’s stock worth $452,000 after purchasing an additional 4,590 shares during the period. Deutsche Bank AG grew its holdings in Fulton Financial by 50.1% in the fourth quarter. Deutsche Bank AG now owns 154,894 shares of the bank’s stock worth $2,986,000 after purchasing an additional 51,670 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Fulton Financial by 5.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,369 shares of the bank’s stock worth $1,993,000 after purchasing an additional 5,120 shares during the period. Millennium Management LLC grew its holdings in Fulton Financial by 149.9% in the fourth quarter. Millennium Management LLC now owns 1,478,735 shares of the bank’s stock worth $28,510,000 after purchasing an additional 886,991 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in Fulton Financial by 133.7% in the fourth quarter. Nuveen Asset Management LLC now owns 1,239,500 shares of the bank’s stock worth $23,898,000 after purchasing an additional 709,015 shares during the period. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $19.28, for a total transaction of $96,400.00. Following the transaction, the director directly owned 90,477 shares in the company, valued at approximately $1,744,396.56. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FULT. Keefe, Bruyette & Woods raised their price target on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Thursday, July 17th. Piper Sandler restated a “neutral” rating on shares of Fulton Financial in a report on Wednesday, July 9th. DA Davidson lifted their price objective on shares of Fulton Financial from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Fulton Financial in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.13.

Fulton Financial Stock Down 1.4%

Fulton Financial stock opened at $18.81 on Wednesday. Fulton Financial Corporation has a fifty-two week low of $14.32 and a fifty-two week high of $22.49. The stock has a market cap of $3.43 billion, a PE ratio of 11.00 and a beta of 0.85. The firm’s 50-day simple moving average is $18.93 and its 200 day simple moving average is $17.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 0.92.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, July 15th. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.12. Fulton Financial had a net margin of 17.00% and a return on equity of 12.64%. The business had revenue of $328.45 million for the quarter, compared to analysts’ expectations of $320.47 million. During the same period in the previous year, the company earned $0.52 earnings per share. Research analysts predict that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a dividend of $0.18 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.72 annualized dividend and a yield of 3.8%. Fulton Financial’s payout ratio is 42.11%.

Fulton Financial Company 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.