Fulton Financial Co. (NASDAQ:FULT) Shares Bought by State Street Corp

State Street Corp raised its holdings in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,544,159 shares of the bank's stock after purchasing an additional 444,219 shares during the quarter. State Street Corp owned 5.79% of Fulton Financial worth $191,166,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Fulton Financial in the 3rd quarter valued at about $33,000. Family Firm Inc. bought a new position in Fulton Financial during the 2nd quarter worth approximately $46,000. Coston McIsaac & Partners acquired a new position in shares of Fulton Financial in the 3rd quarter worth approximately $54,000. Blue Trust Inc. increased its holdings in shares of Fulton Financial by 21.9% in the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank's stock valued at $61,000 after acquiring an additional 691 shares during the last quarter. Finally, AE Wealth Management LLC bought a new stake in shares of Fulton Financial in the 2nd quarter valued at approximately $172,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fulton Financial

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of the firm's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $21.16, for a total transaction of $511,902.72. Following the transaction, the chief executive officer now owns 155,946 shares of the company's stock, valued at approximately $3,299,817.36. This trade represents a 13.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.07% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on FULT. Keefe, Bruyette & Woods lifted their price objective on shares of Fulton Financial from $20.00 to $23.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. StockNews.com lowered shares of Fulton Financial from a "hold" rating to a "sell" rating in a report 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. Finally, Stephens raised shares of Fulton Financial from an "equal weight" rating to an "overweight" rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $19.50.

Fulton Financial Stock Performance

Shares of FULT stock traded down $0.07 during trading hours on Friday, reaching $20.94. The stock had a trading volume of 953,551 shares, compared to its average volume of 1,437,480. The firm has a market capitalization of $3.81 billion, a PE ratio of 13.25 and a beta of 0.78. The firm has a 50-day simple moving average of $19.75 and a 200-day simple moving average of $18.41. Fulton Financial Co. has a twelve month low of $13.87 and a twelve month high of $22.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93.

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

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.25%. The ex-dividend date was Tuesday, October 1st. Fulton Financial's dividend payout ratio is currently 43.04%.

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.