Janus Henderson Group PLC Raises Stock Position in Fulton Financial Co. (NASDAQ:FULT)

Janus Henderson Group PLC increased its holdings in Fulton Financial Co. (NASDAQ:FULT) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,517,149 shares of the bank’s stock after acquiring an additional 47,338 shares during the quarter. Janus Henderson Group PLC owned approximately 1.38% of Fulton Financial worth $48,530,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FULT. Jones Financial Companies Lllp lifted 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 valued at $25,000 after purchasing an additional 853 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Fulton Financial by 57.1% in 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 during the last quarter. McClarren Financial Advisors Inc. acquired a new stake in shares of Fulton Financial during the 4th quarter worth approximately $44,000. Covestor Ltd increased its holdings in Fulton Financial by 196.9% in the fourth quarter. Covestor Ltd now owns 3,976 shares of the bank’s stock valued at $76,000 after buying an additional 2,637 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Fulton Financial by 10.3% during the fourth quarter. Blue Trust Inc. now owns 5,455 shares of the bank’s stock worth $99,000 after purchasing an additional 509 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors.

Fulton Financial Trading Up 1.0%

FULT opened at $18.40 on Wednesday. The business’s 50-day simple moving average is $17.03 and its 200-day simple moving average is $19.11. 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 company has a market cap of $3.35 billion, a P/E ratio of 11.72 and a beta of 0.76. Fulton Financial Co. has a one year low of $14.33 and a one year high of $22.49.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The business had revenue of $322.64 million for the quarter, compared to analysts’ expectations of $315.07 million. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same quarter in the previous year, the firm earned $0.40 earnings per share. As a group, equities research analysts expect that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The business 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 3.91%. The ex-dividend date was Tuesday, April 1st. Fulton Financial’s dividend payout ratio is presently 42.35%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FULT shares. Hovde Group upped their price target on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Piper Sandler cut their target price on Fulton Financial from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. DA Davidson reissued 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 lowered their target price on Fulton Financial from $24.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Finally, StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.30.

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.