Federated Hermes Inc. Boosts Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Federated Hermes Inc. raised its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 8.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 118,284 shares of the bank’s stock after purchasing an additional 9,151 shares during the period. Federated Hermes Inc. owned 0.07% of Fulton Financial worth $1,947,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Fulton Financial by 82.8% in the 4th quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock valued at $28,000 after buying an additional 781 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Fulton Financial by 0.9% in the 3rd quarter. SRS Capital Advisors Inc. now owns 92,173 shares of the bank’s stock valued at $1,116,000 after buying an additional 864 shares in the last quarter. AlphaMark Advisors LLC boosted its holdings in shares of Fulton Financial by 5.3% in the 4th quarter. AlphaMark Advisors LLC now owns 19,714 shares of the bank’s stock valued at $324,000 after buying an additional 993 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of Fulton Financial by 3.3% in the 3rd quarter. Miracle Mile Advisors LLC now owns 32,494 shares of the bank’s stock valued at $394,000 after buying an additional 1,048 shares in the last quarter. Finally, Meridian Wealth Partners LLC boosted its holdings in shares of Fulton Financial by 6.1% in the 3rd quarter. Meridian Wealth Partners LLC now owns 18,579 shares of the bank’s stock valued at $225,000 after buying an additional 1,075 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Up 0.4 %

FULT stock opened at $15.62 on Monday. The firm has a 50 day moving average of $15.30 and a 200 day moving average of $15.05. The stock has a market capitalization of $2.53 billion, a PE ratio of 9.70 and a beta of 0.81. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. Fulton Financial Co. has a 52 week low of $9.64 and a 52 week high of $17.06.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date was Thursday, March 28th. Fulton Financial’s dividend payout ratio (DPR) is presently 42.24%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stephens lowered their price target on shares of Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating on the stock in a report on Thursday, April 18th. StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Friday. Keefe, Bruyette & Woods lifted their target price on shares of Fulton Financial from $16.00 to $17.00 and gave the stock a “market perform” rating in a research note on Thursday, January 18th. Finally, Jefferies Financial Group lowered their target price on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.17.

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.