Federated Hermes Inc. Purchases 17,182 Shares of Fulton Financial Co. (NASDAQ:FULT)

Federated Hermes Inc. grew its stake in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,302 shares of the bank's stock after acquiring an additional 17,182 shares during the quarter. Federated Hermes Inc. owned about 0.16% of Fulton Financial worth $5,616,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in shares of Fulton Financial by 193.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock worth $25,000 after purchasing an additional 853 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of Fulton Financial by 57.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock worth $42,000 after acquiring an additional 800 shares during the period. McClarren Financial Advisors Inc. bought a new stake in Fulton Financial in the 4th quarter valued at about $44,000. Blue Trust Inc. grew its position in Fulton Financial by 10.3% in the 4th quarter. Blue Trust Inc. now owns 5,455 shares of the bank's stock worth $99,000 after purchasing an additional 509 shares during the last quarter. Finally, AlphaQuest LLC raised its holdings in shares of Fulton Financial by 16,041.2% during the fourth quarter. AlphaQuest LLC now owns 5,488 shares of the bank's stock valued at $106,000 after buying an additional 5,454 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company's stock.

Fulton Financial Stock Down 1.5 %

FULT traded down $0.24 during trading on Thursday, reaching $15.73. 649,840 shares of the stock traded hands, compared to its average volume of 1,547,352. Fulton Financial Co. has a fifty-two week low of $13.87 and a fifty-two week high of $22.49. The stock's 50-day simple moving average is $18.17 and its two-hundred day simple moving average is $19.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 10.04 and a beta of 0.68.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.08. The business had revenue of $322.64 million during 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 in the prior year, the firm earned $0.40 EPS. As a group, equities research analysts expect that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend was Tuesday, April 1st. Fulton Financial's dividend payout ratio (DPR) is currently 42.35%.

Insiders Place Their Bets

In other news, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the sale, the president now owns 63,682 shares of the company's stock, valued at approximately $1,317,580.58. This trade represents a 17.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on FULT. Keefe, Bruyette & Woods cut their target price on Fulton Financial from $24.00 to $21.00 and set a "market perform" rating on the stock in a research note on Thursday. Hovde Group upped 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. StockNews.com raised Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Finally, DA Davidson reissued a "neutral" rating and issued a $20.00 price target on shares of Fulton Financial in a report on Wednesday. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $19.93.

Fulton Financial Company 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.