Russell Investments Group Ltd. Lowers Stock Position in Fulton Financial Co. (NASDAQ:FULT)

Russell Investments Group Ltd. trimmed its position in Fulton Financial Co. (NASDAQ:FULT) by 15.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,336 shares of the bank’s stock after selling 10,958 shares during the quarter. Russell Investments Group Ltd.’s holdings in Fulton Financial were worth $1,163,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MML Investors Services LLC raised its position in shares of Fulton Financial by 14.1% during the 3rd quarter. MML Investors Services LLC now owns 23,971 shares of the bank’s stock valued at $435,000 after purchasing an additional 2,967 shares during the period. Barclays PLC lifted its position in shares of Fulton Financial by 79.4% in the third quarter. Barclays PLC now owns 420,636 shares of the bank’s stock valued at $7,626,000 after acquiring an additional 186,215 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of Fulton Financial by 52.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 31,500 shares of the bank’s stock worth $571,000 after acquiring an additional 10,773 shares during the period. JPMorgan Chase & Co. grew its position in shares of Fulton Financial by 130.4% during the third quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank’s stock worth $10,104,000 after purchasing an additional 315,435 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in Fulton Financial by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 567,790 shares of the bank’s stock valued at $11,007,000 after purchasing an additional 34,844 shares during the period. Institutional investors own 72.02% of the company’s stock.

Insiders Place Their Bets

In other news, President Angela M. Snyder sold 13,322 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the transaction, the president now owns 63,682 shares of the company’s stock, valued at approximately $1,317,580.58. This represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.07% of the stock is owned by insiders.

Fulton Financial Stock Performance

Fulton Financial stock opened at $15.88 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. Fulton Financial Co. has a twelve month low of $14.33 and a twelve month high of $22.49. The company’s 50-day moving average price is $17.98 and its 200-day moving average price is $19.21. The company has a market cap of $2.89 billion, a PE ratio of 10.11 and a beta of 0.68.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The business had revenue of $322.64 million for the quarter, compared to the consensus estimate of $315.07 million. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period in the prior year, the business posted $0.40 earnings per share. On average, equities research analysts forecast that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.53%. The ex-dividend date was Tuesday, April 1st. Fulton Financial’s payout ratio is 42.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FULT. Hovde Group increased their price objective on shares of Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a report on Monday, January 27th. StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 23rd. Piper Sandler dropped their price objective on shares of Fulton Financial from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday. DA Davidson reaffirmed a “neutral” rating and issued a $20.00 target price on shares of Fulton Financial in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods decreased their target price on Fulton Financial from $24.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.79.

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.