Citigroup Inc. Increases Stock Position in Fulton Financial Co. (NASDAQ:FULT)

Citigroup Inc. lifted its stake in Fulton Financial Co. (NASDAQ:FULT) by 7.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 404,878 shares of the bank’s stock after acquiring an additional 28,539 shares during the quarter. Citigroup Inc. owned 0.22% of Fulton Financial worth $7,340,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in Fulton Financial in the 2nd quarter worth approximately $46,000. Coston McIsaac & Partners purchased a new position in shares of Fulton Financial in the 3rd quarter worth $54,000. Blue Trust Inc. grew its holdings 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 worth $61,000 after acquiring an additional 691 shares during the period. AE Wealth Management LLC purchased a new stake in Fulton Financial during the second quarter valued at $172,000. Finally, Atwater Malick LLC bought a new position in Fulton Financial in the second quarter valued at about $175,000. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Stock Performance

FULT opened at $21.58 on Friday. The company has a 50 day simple moving average of $19.06 and a two-hundred day simple moving average of $18.13. 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 firm has a market cap of $3.93 billion, a P/E ratio of 13.66 and a beta of 0.73. Fulton Financial Co. has a 1-year low of $13.87 and a 1-year high of $22.49.

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. The business 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 in the prior year, the business posted $0.43 EPS. Equities analysts forecast that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s payout ratio is currently 43.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FULT shares. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a research report on Thursday, October 17th. StockNews.com lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.83.

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.