Fisher Asset Management LLC Increases Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Fisher Asset Management LLC increased its holdings in Fulton Financial Co. (NASDAQ:FULT) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,908,477 shares of the bank’s stock after buying an additional 77,072 shares during the period. Fisher Asset Management LLC owned about 1.05% of Fulton Financial worth $34,601,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new stake in shares of Fulton Financial in the second quarter valued at about $46,000. Coston McIsaac & Partners purchased a new stake in Fulton Financial in the 3rd quarter valued at approximately $54,000. Blue Trust Inc. grew its holdings in Fulton Financial by 21.9% during the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after buying an additional 691 shares during the last quarter. AE Wealth Management LLC purchased a new position in Fulton Financial during the second quarter worth $172,000. Finally, Atwater Malick LLC purchased a new stake in shares of Fulton Financial in the second quarter valued at $175,000. 72.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FULT shares. StockNews.com cut Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.83.

Fulton Financial Trading Down 1.4 %

Shares of FULT stock opened at $21.69 on Wednesday. The firm’s 50-day simple moving average is $18.82 and its 200-day simple moving average is $18.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. Fulton Financial Co. has a 1-year low of $13.84 and a 1-year high of $22.49. The firm has a market cap of $3.95 billion, a P/E ratio of 13.73 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The company had revenue of $487.33 million for the quarter, compared to the consensus estimate of $321.00 million. During the same quarter last year, the firm posted $0.43 earnings per share. As a group, equities analysts forecast that Fulton Financial Co. will post 1.74 EPS for the current year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s payout ratio is currently 43.04%.

Fulton Financial 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.