Fulton Financial Co. (NASDAQ:FULT) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB lifted its stake in Fulton Financial Co. (NASDAQ:FULT) by 6.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 567,790 shares of the bank’s stock after purchasing an additional 34,844 shares during the period. Nordea Investment Management AB’s holdings in Fulton Financial were worth $11,007,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Fulton Financial in the 3rd quarter worth $33,000. Coston McIsaac & Partners purchased a new stake in shares of Fulton Financial in the third quarter valued at about $54,000. Blue Trust Inc. increased its position in Fulton Financial by 28.8% during the third quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock worth $84,000 after purchasing an additional 1,106 shares during the last quarter. TD Private Client Wealth LLC raised its stake in Fulton Financial by 11.6% during the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock worth $118,000 after purchasing an additional 676 shares during the period. Finally, AE Wealth Management LLC acquired a new position in Fulton Financial in the 2nd quarter valued at 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 several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Fulton Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com cut Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Finally, Piper Sandler set a $21.00 price objective on Fulton Financial in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $19.50.

Insider Buying and Selling

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the transaction, the chief executive officer now owns 155,946 shares in the company, valued at $3,299,817.36. The trade was a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.07% of the stock is owned by insiders.

Fulton Financial Stock Up 0.3 %

Shares of NASDAQ FULT opened at $19.34 on Thursday. Fulton Financial Co. has a 52-week low of $13.87 and a 52-week high of $22.49. The business’s 50 day moving average is $20.39 and its two-hundred day moving average is $18.84. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 12.24 and a beta of 0.79. The company has a quick ratio of 0.93, a current 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 earnings per share (EPS) for the quarter, topping 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 earned $0.43 EPS. Research analysts predict that Fulton Financial Co. will post 1.73 EPS for the current year.

Fulton Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.18 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.72%. This is a boost from Fulton Financial’s previous quarterly dividend of $0.17. Fulton Financial’s payout ratio is 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.