Canada Pension Plan Investment Board Buys New Stake in Fulton Financial Co. (NASDAQ:FULT)

Canada Pension Plan Investment Board bought a new position in Fulton Financial Co. (NASDAQ:FULT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 117,700 shares of the bank's stock, valued at approximately $2,269,000. Canada Pension Plan Investment Board owned approximately 0.06% of Fulton Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in FULT. Farringdon Capital Ltd. bought a new position in Fulton Financial in the 4th quarter valued at approximately $215,000. Jump Financial LLC purchased a new position in shares of Fulton Financial in the fourth quarter worth $680,000. XTX Topco Ltd lifted its holdings in shares of Fulton Financial by 54.3% during the fourth quarter. XTX Topco Ltd now owns 22,688 shares of the bank's stock valued at $437,000 after purchasing an additional 7,988 shares in the last quarter. Barclays PLC boosted its position in shares of Fulton Financial by 41.9% during the fourth quarter. Barclays PLC now owns 596,842 shares of the bank's stock valued at $11,508,000 after buying an additional 176,206 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in Fulton Financial by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 18,997 shares of the bank's stock worth $366,000 after buying an additional 602 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company's stock.

Wall Street Analyst Weigh In

FULT has been the topic of several research analyst reports. Piper Sandler lowered their target price on shares of Fulton Financial from $22.00 to $20.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Hovde Group raised their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a "market perform" rating in a report on Monday, January 27th. StockNews.com raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods lowered their price target on Fulton Financial from $24.00 to $21.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $20.00 price objective on shares of Fulton Financial in a report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Fulton Financial has a consensus rating of "Hold" and an average target price of $19.79.

Fulton Financial Stock Performance

Shares of NASDAQ FULT traded up $0.06 during trading on Monday, hitting $16.75. The company had a trading volume of 338,518 shares, compared to its average volume of 1,553,207. Fulton Financial Co. has a 12 month low of $14.33 and a 12 month high of $22.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $3.05 billion, a P/E ratio of 10.68 and a beta of 0.68. The stock has a 50 day simple moving average of $17.56 and a 200 day simple moving average of $19.17.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.08. The company had revenue of $322.64 million for the quarter, compared to analysts' expectations of $315.07 million. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same quarter last year, the business earned $0.40 EPS. As a group, analysts anticipate that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 4.30%. Fulton Financial's dividend payout ratio is presently 42.35%.

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.