Fulton Financial Co. (NASDAQ:FULT) Shares Acquired by Cramer Rosenthal Mcglynn LLC

Cramer Rosenthal Mcglynn LLC lifted its stake in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 95.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,333,772 shares of the bank's stock after buying an additional 652,531 shares during the quarter. Fulton Financial comprises about 1.5% of Cramer Rosenthal Mcglynn LLC's holdings, making the stock its 27th biggest holding. Cramer Rosenthal Mcglynn LLC owned 0.73% of Fulton Financial worth $25,715,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Blue Trust Inc. boosted its holdings in shares of Fulton Financial by 10.3% in the fourth quarter. Blue Trust Inc. now owns 5,455 shares of the bank's stock valued at $99,000 after acquiring an additional 509 shares during the period. SRS Capital Advisors Inc. raised its position in Fulton Financial by 0.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 91,464 shares of the bank's stock valued at $1,763,000 after purchasing an additional 523 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Fulton Financial by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 18,997 shares of the bank's stock worth $366,000 after purchasing an additional 602 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of Fulton Financial by 57.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock valued at $42,000 after purchasing an additional 800 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Fulton Financial by 1.4% during the 4th quarter. HighTower Advisors LLC now owns 63,321 shares of the bank's stock worth $1,221,000 after purchasing an additional 849 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company's stock.

Fulton Financial Trading Up 1.5 %

Shares of NASDAQ FULT traded up $0.25 on Wednesday, reaching $16.46. 515,755 shares of the company traded hands, compared to its average volume of 1,555,835. The company has a 50 day moving average of $17.80 and a 200 day moving average of $19.18. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. Fulton Financial Co. has a fifty-two week low of $14.33 and a fifty-two week high of $22.49. The stock has a market capitalization of $3.00 billion, a PE ratio of 10.48 and a beta of 0.68.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.08. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. The company had revenue of $322.64 million for the quarter, compared to the consensus estimate of $315.07 million. During the same quarter last year, the firm posted $0.40 earnings per share. On average, equities research analysts forecast that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date was Tuesday, April 1st. Fulton Financial's payout ratio is currently 42.35%.

Analysts Set New Price Targets

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

Insider Transactions at Fulton Financial

In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of the business's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now directly owns 63,682 shares in the company, valued at $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.07% of the company's stock.

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.