Jump Financial LLC Takes $680,000 Position in Fulton Financial Co. (NASDAQ:FULT)

Jump Financial LLC bought a new position in shares of Fulton Financial Co. (NASDAQ:FULT) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 35,288 shares of the bank’s stock, valued at approximately $680,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings in shares of Fulton Financial by 193.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank’s stock worth $25,000 after purchasing an additional 853 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Fulton Financial by 57.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank’s stock worth $42,000 after buying an additional 800 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in Fulton Financial in the 4th quarter valued at $44,000. Covestor Ltd increased its holdings in Fulton Financial by 196.9% in the 4th quarter. Covestor Ltd now owns 3,976 shares of the bank’s stock valued at $76,000 after buying an additional 2,637 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Fulton Financial by 10.3% in the 4th quarter. Blue Trust Inc. now owns 5,455 shares of the bank’s stock valued at $99,000 after buying an additional 509 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors.

Insider Activity

In related news, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the sale, the president now directly owns 63,682 shares in the company, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of Fulton Financial from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Hovde Group increased their target price on Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a report on Monday, January 27th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. DA Davidson reiterated a “neutral” rating and set a $20.00 price objective on shares of Fulton Financial in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Fulton Financial from $24.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.79.

Fulton Financial Price Performance

Shares of FULT stock opened at $16.21 on Wednesday. Fulton Financial Co. has a 52 week low of $14.33 and a 52 week high of $22.49. The stock has a market capitalization of $2.95 billion, a PE ratio of 10.32 and a beta of 0.68. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s fifty day moving average is $17.80 and its 200-day moving average is $19.18.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.08. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. The firm had revenue of $322.64 million during the quarter, compared to analysts’ expectations of $315.07 million. During the same quarter last year, the company posted $0.40 EPS. Equities research analysts expect 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 given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 4.44%. Fulton Financial’s payout ratio is 42.35%.

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.