Barclays PLC Boosts Position in Fulton Financial Co. (NASDAQ:FULT)

Barclays PLC raised its position in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 79.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 420,636 shares of the bank's stock after acquiring an additional 186,215 shares during the quarter. Barclays PLC owned approximately 0.23% of Fulton Financial worth $7,626,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Seven Eight Capital LP purchased a new stake in shares of Fulton Financial in the 2nd quarter worth about $485,000. Segall Bryant & Hamill LLC purchased a new stake in Fulton Financial in the third quarter worth about $3,489,000. American Century Companies Inc. lifted its holdings in Fulton Financial by 18.6% in the second quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank's stock worth $51,323,000 after buying an additional 474,099 shares during the period. BNP Paribas Financial Markets boosted its position in Fulton Financial by 145.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 89,378 shares of the bank's stock valued at $1,620,000 after acquiring an additional 52,997 shares in the last quarter. Finally, Legato Capital Management LLC purchased a new position in shares of Fulton Financial during the 2nd quarter worth approximately $1,003,000. 72.02% of the stock is owned by institutional investors.

Insider Buying and Selling at Fulton Financial

In other news, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the sale, the chief executive officer now directly owns 155,946 shares in the company, valued at $3,299,817.36. The trade was a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.07% of the company's stock.

Fulton Financial Stock Down 1.4 %

Shares of NASDAQ FULT traded down $0.27 during trading on Thursday, reaching $19.40. The company had a trading volume of 1,300,580 shares, compared to its average volume of 1,439,964. Fulton Financial Co. has a 12-month low of $13.87 and a 12-month high of $22.49. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. The business's 50-day moving average is $19.97 and its 200 day moving average is $18.50. The stock has a market cap of $3.53 billion, a PE ratio of 12.28 and a beta of 0.78.

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

Fulton Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Fulton Financial's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 3.71%. Fulton Financial's dividend payout ratio is 43.04%.

Wall Street Analysts Forecast Growth

FULT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their target price on Fulton Financial from $20.00 to $23.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler set a $21.00 price objective on Fulton Financial in a report on Thursday, October 17th. Stephens upgraded shares of Fulton Financial from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. Finally, StockNews.com downgraded shares of Fulton Financial from a "hold" rating to a "sell" rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Fulton Financial has an average rating of "Hold" and a consensus price target of $19.50.

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.