BNP Paribas Financial Markets Grows Stock Position in Fulton Financial Co. (NASDAQ:FULT)

BNP Paribas Financial Markets raised its holdings in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 145.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 89,378 shares of the bank's stock after acquiring an additional 52,997 shares during the quarter. BNP Paribas Financial Markets' holdings in Fulton Financial were worth $1,620,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Millennium Management LLC boosted its holdings in shares of Fulton Financial by 511.1% in the second quarter. Millennium Management LLC now owns 3,256,000 shares of the bank's stock valued at $55,287,000 after purchasing an additional 2,723,170 shares during the period. American Century Companies Inc. lifted its holdings in shares of Fulton Financial by 18.6% in the 2nd 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. Bank of New York Mellon Corp grew its position in shares of Fulton Financial by 28.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank's stock worth $43,164,000 after buying an additional 567,771 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Fulton Financial by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,358,099 shares of the bank's stock valued at $42,752,000 after buying an additional 31,754 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Fulton Financial by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 1,908,477 shares of the bank's stock worth $34,601,000 after acquiring an additional 77,072 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors.

Fulton Financial Stock Performance

NASDAQ:FULT traded up $0.08 during trading hours on Friday, hitting $21.24. 583,684 shares of the company were exchanged, compared to its average volume of 1,248,923. 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 52-week low of $13.87 and a 52-week high of $22.49. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 13.44 and a beta of 0.78. The company's 50 day moving average price is $19.39 and its 200-day moving average price is $18.27.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, beating 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 firm had revenue of $487.33 million for the quarter, compared to analyst estimates of $321.00 million. During the same period in the previous year, the company earned $0.43 earnings per share. As a group, research analysts forecast that Fulton Financial Co. will post 1.74 earnings per share for the current year.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Tuesday, October 1st. Fulton Financial's payout ratio is 43.04%.

Wall Street Analysts Forecast Growth

FULT has been the subject of several recent research reports. StockNews.com lowered shares of Fulton Financial from a "hold" rating to a "sell" rating in a report on Monday, November 11th. Keefe, Bruyette & Woods boosted their price objective on shares of Fulton Financial from $20.00 to $23.00 and gave the stock a "market perform" rating in a research note on Wednesday. Finally, Piper Sandler set a $21.00 target price on Fulton Financial in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Fulton Financial currently has an average rating of "Hold" and a consensus price target of $19.50.

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.