Citigroup Inc. Buys 28,539 Shares of Fulton Financial Co. (NASDAQ:FULT)

Citigroup Inc. boosted its stake in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 404,878 shares of the bank's stock after acquiring an additional 28,539 shares during the quarter. Citigroup Inc. owned about 0.22% of Fulton Financial worth $7,340,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Family Firm Inc. purchased a new position in shares of Fulton Financial in the second quarter valued at $46,000. Coston McIsaac & Partners purchased a new position in Fulton Financial in the 3rd quarter valued at about $54,000. Blue Trust Inc. grew its stake in shares of Fulton Financial by 21.9% during the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank's stock valued at $61,000 after acquiring an additional 691 shares in the last quarter. AE Wealth Management LLC purchased a new stake in shares of Fulton Financial during the second quarter worth about $172,000. Finally, Atwater Malick LLC acquired a new position in shares of Fulton Financial in the second quarter worth about $175,000. Institutional investors and hedge funds own 72.02% of the company's stock.

Fulton Financial Stock Performance

NASDAQ:FULT traded down $0.08 during trading hours on Friday, reaching $21.58. 431,225 shares of the stock were exchanged, compared to its average volume of 1,427,032. Fulton Financial Co. has a 52 week low of $13.87 and a 52 week 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 stock has a market capitalization of $3.93 billion, a P/E ratio of 13.66 and a beta of 0.73. The firm has a 50 day simple moving average of $19.06 and a 200-day simple moving average of $18.13.

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

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Tuesday, October 1st. Fulton Financial's dividend payout ratio (DPR) is presently 43.04%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com lowered Fulton Financial from a "hold" rating to a "sell" rating in a research note on Monday, November 11th. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $18.83.

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.