Dimensional Fund Advisors LP Sells 359,886 Shares of Fulton Financial Co. (NASDAQ:FULT)

Dimensional Fund Advisors LP decreased its stake in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 3.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,568,331 shares of the bank's stock after selling 359,886 shares during the period. Dimensional Fund Advisors LP owned 6.36% of Fulton Financial worth $223,040,000 as of its most recent filing with the SEC.

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

Insider Activity

In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the transaction, the president now directly owns 63,682 shares in the company, valued at approximately $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.07% of the stock is owned by corporate insiders.

Fulton Financial Price Performance

Fulton Financial stock opened at $16.21 on Wednesday. The stock has a fifty day moving average of $17.80 and a 200-day moving average of $19.18. The stock has a market capitalization of $2.95 billion, a P/E ratio of 10.32 and a beta of 0.68. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial Co. has a 52 week low of $14.33 and a 52 week high of $22.49.

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, beating analysts' consensus estimates of $0.44 by $0.08. The company had revenue of $322.64 million for the quarter, compared to the consensus estimate of $315.07 million. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same period last year, the company posted $0.40 EPS. On average, sell-side analysts expect that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently declared 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. The ex-dividend date was Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 4.44%. Fulton Financial's dividend payout ratio (DPR) is presently 42.35%.

Wall Street Analyst Weigh In

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

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.

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