Northern Trust Corp Has $39.25 Million Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Northern Trust Corp lowered its stake in Fulton Financial Co. (NASDAQ:FULT) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,035,629 shares of the bank’s stock after selling 19,508 shares during the period. Northern Trust Corp’s holdings in Fulton Financial were worth $39,247,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Oxford Asset Management LLP bought a new position in Fulton Financial during the fourth quarter worth about $303,000. Voya Investment Management LLC boosted its stake in Fulton Financial by 108.4% during the 4th quarter. Voya Investment Management LLC now owns 334,344 shares of the bank’s stock worth $6,446,000 after acquiring an additional 173,888 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Fulton Financial by 5.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,321,387 shares of the bank’s stock valued at $83,316,000 after purchasing an additional 216,118 shares during the period. Dark Forest Capital Management LP acquired a new stake in Fulton Financial in the fourth quarter worth $230,000. Finally, Hsbc Holdings PLC boosted its position in shares of Fulton Financial by 43.1% during the fourth quarter. Hsbc Holdings PLC now owns 72,211 shares of the bank’s stock worth $1,397,000 after purchasing an additional 21,755 shares in the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods dropped their price target on Fulton Financial from $24.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, April 17th. Hovde Group boosted their price objective on Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research report on Monday, January 27th. Piper Sandler dropped their target price on shares of Fulton Financial from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, DA Davidson reiterated a “neutral” rating and issued a $20.00 price target on shares of Fulton Financial in a report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.30.

Fulton Financial Stock Performance

Shares of FULT stock opened at $17.40 on Friday. Fulton Financial Co. has a 12 month low of $14.33 and a 12 month high of $22.49. The company’s fifty day simple moving average is $17.04 and its 200-day simple moving average is $19.09. The firm has a market cap of $3.17 billion, a PE ratio of 11.08 and a beta of 0.76. 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 (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. The firm had revenue of $322.64 million for the quarter, compared to analysts’ expectations of $315.07 million. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same period in the previous year, the firm posted $0.40 EPS. Equities research analysts expect that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a $0.18 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 4.14%. Fulton Financial’s dividend payout ratio is 42.35%.

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.