Fulton Financial Co. (NASDAQ:FULT) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB grew its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 567,790 shares of the bank’s stock after acquiring an additional 34,844 shares during the quarter. Nordea Investment Management AB owned about 0.31% of Fulton Financial worth $11,007,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of FULT. Quarry LP purchased a new position in Fulton Financial in the 3rd quarter worth $33,000. Coston McIsaac & Partners purchased a new position in shares of Fulton Financial in the third quarter worth about $54,000. Blue Trust Inc. lifted its holdings in shares of Fulton Financial by 28.8% during the third quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock worth $84,000 after purchasing an additional 1,106 shares during the period. TD Private Client Wealth LLC boosted its position in Fulton Financial by 11.6% in the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock valued at $118,000 after buying an additional 676 shares during the last quarter. Finally, AE Wealth Management LLC acquired a new position in Fulton Financial in the 2nd quarter worth approximately $172,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods increased their price target on shares of Fulton Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Fulton Financial has an average rating of “Hold” and an average target price of $19.50.

Fulton Financial Price Performance

Fulton Financial stock opened at $19.34 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The company’s fifty day moving average price is $20.39 and its 200 day moving average price is $18.84. The stock has a market capitalization of $3.52 billion, a P/E ratio of 12.24 and a beta of 0.79. Fulton Financial Co. has a 1 year low of $13.87 and a 1 year high of $22.49.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. The business had revenue of $487.33 million for the quarter, compared to analyst estimates of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same quarter last year, the business earned $0.43 earnings per share. As a group, equities research analysts anticipate that Fulton Financial Co. will post 1.73 earnings per share for the current fiscal year.

Fulton Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Tuesday, December 31st. This is an increase from Fulton Financial’s previous quarterly dividend of $0.17. Fulton Financial’s dividend payout ratio (DPR) is 45.57%.

Insider Transactions at Fulton Financial

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $21.16, for a total value of $511,902.72. Following the transaction, the chief executive officer now owns 155,946 shares in the company, valued at approximately $3,299,817.36. This trade represents a 13.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.07% of the company’s stock.

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.