Fulton Financial Corporation $FULT Stock Position Decreased by Voya Investment Management LLC

Voya Investment Management LLC cut its position in shares of Fulton Financial Corporation (NASDAQ:FULT) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,071 shares of the bank’s stock after selling 9,273 shares during the period. Voya Investment Management LLC owned 0.18% of Fulton Financial worth $5,881,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Fulton Financial by 1.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,303 shares of the bank’s stock valued at $657,000 after acquiring an additional 684 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Fulton Financial during the 1st quarter valued at about $287,000. Silver Oak Securities Incorporated acquired a new position in shares of Fulton Financial during the 1st quarter valued at about $333,000. New York State Teachers Retirement System increased its holdings in shares of Fulton Financial by 1.3% during the 1st quarter. New York State Teachers Retirement System now owns 240,935 shares of the bank’s stock valued at $4,359,000 after acquiring an additional 2,985 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Fulton Financial by 50.1% during the 4th quarter. Deutsche Bank AG now owns 154,894 shares of the bank’s stock valued at $2,986,000 after acquiring an additional 51,670 shares during the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FULT has been the topic of a number of analyst reports. Zacks Research lowered Fulton Financial from a “strong-buy” rating to a “hold” rating in a report on Monday. Keefe, Bruyette & Woods increased their price objective on Fulton Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Thursday, July 17th. Piper Sandler reaffirmed a “neutral” rating on shares of Fulton Financial in a report on Wednesday, July 9th. DA Davidson raised their target price on 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 reaffirmed 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 six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.13.

Insider Activity at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction on Friday, September 12th. The stock was sold at an average price of $19.28, for a total value of $96,400.00. Following the completion of the sale, the director directly owned 90,477 shares of the company’s stock, valued at approximately $1,744,396.56. This trade represents a 5.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.08% of the company’s stock.

Fulton Financial Trading Up 2.2%

Shares of FULT opened at $19.47 on Friday. The stock has a fifty day moving average price of $18.92 and a two-hundred day moving average price of $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 Corporation has a 52-week low of $14.32 and a 52-week high of $22.49. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 11.39 and a beta of 0.85.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.12. Fulton Financial had a return on equity of 12.64% and a net margin of 17.00%.The firm had revenue of $328.45 million during the quarter, compared to the consensus estimate of $320.47 million. During the same quarter in the previous year, the company posted $0.52 EPS. Analysts predict that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, October 1st. Fulton Financial’s dividend payout ratio (DPR) is 42.11%.

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.