Fulton Financial Co. (NASDAQ:FULT) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 2.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,371,223 shares of the bank’s stock after buying an additional 85,574 shares during the period. Geode Capital Management LLC’s holdings in Fulton Financial were worth $79,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in Fulton Financial in the third quarter worth approximately $33,000. Family Firm Inc. acquired a new position in shares of Fulton Financial in the 2nd quarter valued at $46,000. Coston McIsaac & Partners purchased a new position in shares of Fulton Financial during the 3rd quarter worth $54,000. Blue Trust Inc. grew its holdings in shares of 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 purchasing an additional 691 shares during the period. Finally, AE Wealth Management LLC acquired a new stake in shares of Fulton Financial during the 2nd quarter worth about $172,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Wall Street Analyst Weigh In

FULT has been the topic of a number of recent analyst reports. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a research report on Thursday, October 17th. Keefe, Bruyette & Woods upped 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. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Finally, StockNews.com cut Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.50.

Insider Activity at Fulton Financial

In other news, CEO Curtis J. Myers sold 24,192 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $21.16, for a total transaction of $511,902.72. Following the completion of the transaction, the chief executive officer now directly owns 155,946 shares of the company’s stock, valued at approximately $3,299,817.36. This represents a 13.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.07% of the stock is currently owned by corporate insiders.

Fulton Financial Price Performance

FULT stock opened at $19.60 on Friday. Fulton Financial Co. has a 1 year low of $13.87 and a 1 year high of $22.49. The firm has a market capitalization of $3.57 billion, a P/E ratio of 12.41 and a beta of 0.78. 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 business’s 50-day moving average is $19.97 and its two-hundred day moving average is $18.50.

Fulton Financial (NASDAQ:FULT) last issued its quarterly 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 net margin of 16.37% and a return on equity of 11.33%. The company had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Analysts anticipate that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.67%. This is an increase from Fulton Financial’s previous quarterly dividend of $0.17. Fulton Financial’s payout ratio is presently 45.57%.

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.