Fulton Financial Co. (NASDAQ:FULT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Fulton Financial Co. (NASDAQ:FULT) by 0.1% during the third quarter, HoldingsChannel reports. The firm owned 1,007,586 shares of the bank’s stock after selling 1,308 shares during the period. Principal Financial Group Inc.’s holdings in Fulton Financial were worth $18,268,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Family Firm Inc. acquired a new position in Fulton Financial in the 2nd quarter valued at about $46,000. Coston McIsaac & Partners acquired a new position in shares of Fulton Financial in the third quarter valued at approximately $54,000. Blue Trust Inc. raised its stake in shares of Fulton Financial by 21.9% during the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after purchasing an additional 691 shares during the last quarter. Headlands Technologies LLC purchased a new position in Fulton Financial during the 1st quarter worth $66,000. Finally, AE Wealth Management LLC purchased a new stake in shares of Fulton Financial in the second quarter valued at about $172,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Fulton Financial Trading Down 0.7 %

Shares of FULT opened at $20.98 on Friday. Fulton Financial Co. has a twelve month low of $13.84 and a twelve month high of $21.65. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.82 billion, a P/E ratio of 13.28 and a beta of 0.73. The firm’s 50-day moving average is $18.33 and its two-hundred day moving average is $17.80.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share 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 analysts’ expectations 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 firm posted $0.43 EPS. On average, research analysts predict that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 annualized dividend and a yield of 3.24%. Fulton Financial’s dividend payout ratio (DPR) is currently 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.