Fulton Financial Co. (NASDAQ:FULT) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc cut its position in Fulton Financial Co. (NASDAQ:FULT) by 3.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 16,341 shares of the bank’s stock after selling 542 shares during the period. CIBC Asset Management Inc’s holdings in Fulton Financial were worth $296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Miller Howard Investments Inc. NY boosted its holdings in Fulton Financial by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 22,132 shares of the bank’s stock valued at $376,000 after acquiring an additional 527 shares during the period. Blue Trust Inc. boosted its stake in shares of Fulton Financial by 21.9% in the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after purchasing an additional 691 shares during the period. Meridian Wealth Partners LLC grew its holdings in shares of Fulton Financial by 4.7% in the second quarter. Meridian Wealth Partners LLC now owns 27,557 shares of the bank’s stock valued at $468,000 after purchasing an additional 1,230 shares in the last quarter. Olympiad Research LP increased its stake in Fulton Financial by 13.5% during the 3rd quarter. Olympiad Research LP now owns 13,418 shares of the bank’s stock worth $243,000 after buying an additional 1,594 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in Fulton Financial by 14.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 13,966 shares of the bank’s stock worth $237,000 after buying an additional 1,750 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Wall Street Analysts Forecast Growth

FULT has been the subject of several research reports. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a research note on Thursday, October 17th. StockNews.com downgraded Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.83.

Fulton Financial Trading Up 2.1 %

Shares of NASDAQ:FULT opened at $21.29 on Friday. The company has a market cap of $3.87 billion, a PE ratio of 13.47 and a beta of 0.73. The company’s 50 day moving average is $18.67 and its two-hundred day moving average is $17.94. Fulton Financial Co. has a 52 week low of $13.84 and a 52 week high of $21.65. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. The firm had revenue of $487.33 million for 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 in the prior year, the company posted $0.43 earnings per share. Equities analysts predict that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 annualized dividend and a yield of 3.19%. Fulton Financial’s dividend payout ratio is currently 43.04%.

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.