Fisher Asset Management LLC Acquires 77,072 Shares of Fulton Financial Co. (NASDAQ:FULT)

Fisher Asset Management LLC lifted its stake in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 4.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,908,477 shares of the bank's stock after acquiring an additional 77,072 shares during the period. Fisher Asset Management LLC owned approximately 1.05% of Fulton Financial worth $34,601,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cerity Partners LLC raised its stake in shares of Fulton Financial by 28.0% during the third quarter. Cerity Partners LLC now owns 49,399 shares of the bank's stock worth $896,000 after acquiring an additional 10,820 shares in the last quarter. Citigroup Inc. lifted its stake in Fulton Financial by 7.6% in the third quarter. Citigroup Inc. now owns 404,878 shares of the bank's stock worth $7,340,000 after purchasing an additional 28,539 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in 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. Intech Investment Management LLC purchased a new position in shares of Fulton Financial in the third quarter worth about $763,000. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Fulton Financial in the 3rd quarter valued at about $3,489,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FULT has been the topic of several analyst reports. StockNews.com downgraded shares of 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 objective on shares of Fulton Financial in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.83.

Fulton Financial Trading Down 1.4 %

Shares of FULT stock opened at $21.69 on Wednesday. The stock has a market capitalization of $3.95 billion, a P/E ratio of 13.73 and a beta of 0.73. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The firm's 50 day moving average is $18.82 and its 200 day moving average is $18.02. Fulton Financial Co. has a 12-month low of $13.84 and a 12-month high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its quarterly 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. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The business had revenue of $487.33 million for the quarter, compared to analysts' expectations of $321.00 million. During the same quarter last year, the company posted $0.43 EPS. Research analysts expect that Fulton Financial Co. will post 1.74 earnings per share for the current year.

Fulton Financial Announces Dividend

The business 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 3.14%. The ex-dividend date was Tuesday, October 1st. Fulton Financial's dividend payout ratio (DPR) is currently 43.04%.

Fulton Financial 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.