Citigroup Inc. Purchases 28,539 Shares of Fulton Financial Co. (NASDAQ:FULT)

Citigroup Inc. raised its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 7.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 404,878 shares of the bank’s stock after purchasing an additional 28,539 shares during the quarter. Citigroup Inc.’s holdings in Fulton Financial were worth $7,340,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Family Firm Inc. bought a new position in shares of Fulton Financial during the 2nd quarter valued at approximately $46,000. Coston McIsaac & Partners purchased a new stake in Fulton Financial during the third quarter valued at $54,000. Blue Trust Inc. lifted its position in Fulton Financial by 21.9% during the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after purchasing an additional 691 shares during the last quarter. AE Wealth Management LLC bought a new position in Fulton Financial during the second quarter valued at $172,000. Finally, Atwater Malick LLC bought a new stake in shares of Fulton Financial in the 2nd quarter worth about $175,000. Institutional investors own 72.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FULT shares. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Piper Sandler set a $21.00 target price on Fulton Financial in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.83.

Fulton Financial Stock Performance

Fulton Financial stock opened at $21.58 on Friday. Fulton Financial Co. has a fifty-two week low of $13.87 and a fifty-two week high of $22.49. The company has a market capitalization of $3.93 billion, a PE ratio of 13.66 and a beta of 0.73. The company has a 50 day moving average price of $19.06 and a 200-day moving average price of $18.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $487.33 million for the quarter, compared to the consensus estimate of $321.00 million. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. During the same quarter in the prior year, the company earned $0.43 EPS. As a group, equities analysts forecast that Fulton Financial Co. will post 1.74 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.15%. Fulton Financial’s dividend payout ratio is presently 43.04%.

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.