Fisher Asset Management LLC Raises Position in Fulton Financial Co. (NASDAQ:FULT)

Fisher Asset Management LLC lifted its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,908,477 shares of the bank’s stock after buying an additional 77,072 shares during the quarter. Fisher Asset Management LLC’s holdings in Fulton Financial were worth $34,601,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FULT. Miller Howard Investments Inc. NY raised its stake in shares of Fulton Financial by 2.4% during the second quarter. Miller Howard Investments Inc. NY now owns 22,132 shares of the bank’s stock valued at $376,000 after purchasing an additional 527 shares during the period. CIBC Asset Management Inc grew its holdings in Fulton Financial by 3.7% during the 2nd quarter. CIBC Asset Management Inc now owns 16,883 shares of the bank’s stock valued at $287,000 after purchasing an additional 605 shares in the last quarter. Blue Trust Inc. increased its stake in Fulton Financial by 21.9% during the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after buying an additional 691 shares during the period. Meridian Wealth Partners LLC lifted its holdings in Fulton Financial by 4.7% in the 2nd quarter. Meridian Wealth Partners LLC now owns 27,557 shares of the bank’s stock worth $468,000 after buying an additional 1,230 shares in the last quarter. Finally, Olympiad Research LP boosted its position in Fulton Financial by 13.5% in the 3rd quarter. Olympiad Research LP now owns 13,418 shares of the bank’s stock valued at $243,000 after buying an additional 1,594 shares during the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Stock Down 1.4 %

NASDAQ:FULT opened at $21.69 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 13.73 and a beta of 0.73. Fulton Financial Co. has a one year low of $13.84 and a one year high of $22.49. The stock has a 50-day simple moving average of $18.82 and a 200 day simple moving average of $18.02.

Fulton Financial (NASDAQ:FULT) last issued 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 company had revenue of $487.33 million during the quarter, compared to analyst estimates of $321.00 million. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. During the same quarter last year, the firm earned $0.43 EPS. Sell-side analysts predict that Fulton Financial Co. will post 1.74 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.14%. Fulton Financial’s dividend payout ratio (DPR) is 43.04%.

Wall Street Analyst Weigh In

FULT has been the topic of a number of analyst reports. StockNews.com lowered Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Piper Sandler set a $21.00 price objective on Fulton Financial in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Fulton Financial has an average rating of “Hold” and a consensus target price of $18.83.

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.