XTX Topco Ltd Raises Stock Position in Fulton Financial Co. (NASDAQ:FULT)

XTX Topco Ltd increased its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 54.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,688 shares of the bank’s stock after acquiring an additional 7,988 shares during the quarter. XTX Topco Ltd’s holdings in Fulton Financial were worth $437,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Fulton Financial by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 22,383,504 shares of the bank’s stock valued at $431,554,000 after purchasing an additional 285,376 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Fulton Financial by 35.3% in the fourth quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank’s stock worth $49,782,000 after acquiring an additional 673,559 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Fulton Financial by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank’s stock worth $45,837,000 after acquiring an additional 19,329 shares during the last quarter. Norges Bank purchased a new position in shares of Fulton Financial in the 4th quarter valued at approximately $38,010,000. Finally, Invesco Ltd. boosted its stake in Fulton Financial by 9.8% in the 4th quarter. Invesco Ltd. now owns 1,326,578 shares of the bank’s stock worth $25,576,000 after purchasing an additional 117,946 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Fulton Financial from $24.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Piper Sandler dropped their price target on Fulton Financial from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. DA Davidson restated a “neutral” rating and issued a $20.00 price objective on shares of Fulton Financial in a research note on Wednesday, April 16th. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Hovde Group lifted their price objective on shares of Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Fulton Financial has an average rating of “Hold” and an average target price of $19.79.

Fulton Financial Stock Performance

FULT opened at $15.74 on Tuesday. The stock has a market cap of $2.87 billion, a P/E ratio of 10.03 and a beta of 0.68. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a fifty day moving average price of $17.89 and a 200 day moving average price of $19.20. Fulton Financial Co. has a 1 year low of $14.33 and a 1 year high of $22.49.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The company had revenue of $322.64 million during 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 prior year, the firm posted $0.40 EPS. Equities research analysts anticipate that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 4.57%. Fulton Financial’s dividend payout ratio (DPR) is presently 42.35%.

Insiders Place Their Bets

In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the sale, the president now directly owns 63,682 shares of the company’s stock, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.07% of the stock is owned by company insiders.

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.