JPMorgan Chase & Co. Has $10.10 Million Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

JPMorgan Chase & Co. boosted its stake in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 130.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 557,303 shares of the bank's stock after purchasing an additional 315,435 shares during the period. JPMorgan Chase & Co. owned about 0.31% of Fulton Financial worth $10,104,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Arizona State Retirement System raised its holdings in Fulton Financial by 11.0% during the second quarter. Arizona State Retirement System now owns 50,067 shares of the bank's stock valued at $850,000 after buying an additional 4,944 shares in the last quarter. Private Advisor Group LLC increased its stake in Fulton Financial by 59.2% during the second quarter. Private Advisor Group LLC now owns 30,353 shares of the bank's stock valued at $515,000 after acquiring an additional 11,287 shares during the period. Los Angeles Capital Management LLC lifted its position in Fulton Financial by 14.3% in the second quarter. Los Angeles Capital Management LLC now owns 13,966 shares of the bank's stock worth $237,000 after purchasing an additional 1,750 shares during the period. American Century Companies Inc. increased its holdings in Fulton Financial by 18.6% in the 2nd quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank's stock valued at $51,323,000 after buying an additional 474,099 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Fulton Financial in the 2nd quarter valued at $178,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Stock Up 0.3 %

Fulton Financial stock opened at $19.12 on Monday. Fulton Financial Co. has a fifty-two week low of $13.87 and a fifty-two week high of $22.49. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 12.10 and a beta of 0.79. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. The company's 50 day simple moving average is $20.44 and its 200 day simple moving average is $18.90.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.06. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. The business had revenue of $487.33 million during the quarter, compared to analysts' expectations of $321.00 million. During the same period in the prior year, the business earned $0.43 EPS. As a group, sell-side analysts anticipate that Fulton Financial Co. will post 1.73 EPS for the current year.

Fulton Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.18 per share. This is a boost from Fulton Financial's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Tuesday, December 31st. Fulton Financial's dividend payout ratio is currently 45.57%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Stephens upgraded Fulton Financial from an "equal weight" rating to an "overweight" rating in a research report on Monday, December 9th. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a research report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their target price on shares of Fulton Financial from $20.00 to $23.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Finally, StockNews.com cut shares of Fulton Financial from a "hold" rating to a "sell" rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Fulton Financial presently has a consensus rating of "Hold" and a consensus target price of $19.50.

Insider Activity

In other news, CEO Curtis J. Myers sold 24,192 shares of the business'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 directly owns 155,946 shares in the company, valued at $3,299,817.36. The trade was a 13.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.07% of the stock is owned by corporate insiders.

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.