Fulton Financial Co. (NASDAQ:FULT) Shares Acquired by Voya Investment Management LLC

Voya Investment Management LLC increased its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 108.4% in the fourth quarter, Holdings Channel reports. The firm owned 334,344 shares of the bank’s stock after acquiring an additional 173,888 shares during the period. Voya Investment Management LLC’s holdings in Fulton Financial were worth $6,446,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Barclays PLC grew its holdings in Fulton Financial by 79.4% during the 3rd quarter. Barclays PLC now owns 420,636 shares of the bank’s stock valued at $7,626,000 after purchasing an additional 186,215 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Fulton Financial by 52.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 31,500 shares of the bank’s stock valued at $571,000 after acquiring an additional 10,773 shares in the last quarter. JPMorgan Chase & Co. increased 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 acquiring an additional 315,435 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Fulton Financial by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 567,790 shares of the bank’s stock worth $11,007,000 after acquiring an additional 34,844 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in Fulton Financial in the fourth quarter valued at about $632,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Hovde Group lifted their price objective on Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a report on Monday, January 27th. DA Davidson restated a “neutral” rating and issued a $20.00 price target on shares of Fulton Financial in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods reduced their price objective 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. Piper Sandler dropped their target price on shares of Fulton Financial from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.83.

Fulton Financial Stock Up 0.5 %

Shares of Fulton Financial stock opened at $16.93 on Wednesday. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 10.78 and a beta of 0.68. Fulton Financial Co. has a twelve month low of $14.33 and a twelve month high of $22.49. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. The business’s 50 day simple moving average is $17.42 and its 200-day simple moving average is $19.15.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. The company had revenue of $322.64 million during the quarter, compared to the consensus estimate of $315.07 million. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same quarter in the previous year, the company posted $0.40 earnings per share. Equities research analysts forecast that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend was Tuesday, April 1st. Fulton Financial’s dividend payout ratio (DPR) is 42.35%.

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.