Mirae Asset Global Investments Co. Ltd. Grows Stake in Fulton Financial Co. (NASDAQ:FULT)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Fulton Financial Co. (NASDAQ:FULT) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,258 shares of the bank’s stock after buying an additional 2,223 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Fulton Financial were worth $1,206,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. AlphaMark Advisors LLC lifted its holdings in shares of Fulton Financial by 5.3% in the fourth quarter. AlphaMark Advisors LLC now owns 19,714 shares of the bank’s stock valued at $324,000 after purchasing an additional 993 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Fulton Financial in the 4th quarter valued at approximately $109,000. Blue Trust Inc. grew its holdings in Fulton Financial by 82.8% during 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 during the last quarter. CIC Wealth LLC purchased a new position in Fulton Financial during the fourth quarter worth $180,000. Finally, American Century Companies Inc. raised its holdings in shares of Fulton Financial by 16.0% in the third quarter. American Century Companies Inc. now owns 1,682,119 shares of the bank’s stock worth $20,370,000 after acquiring an additional 232,462 shares during the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FULT has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their price objective on Fulton Financial from $16.00 to $17.00 and gave the stock a “market perform” rating in a research report on Thursday, January 18th. Stephens cut their price objective on shares of Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating for the company in a research report on Thursday, April 18th. Jefferies Financial Group decreased their target price on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Finally, StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, Fulton Financial has a consensus rating of “Hold” and a consensus target price of $16.17.

Fulton Financial Stock Up 1.5 %

Shares of FULT opened at $15.21 on Tuesday. The firm has a market cap of $2.46 billion, a PE ratio of 9.45 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. The company’s fifty day moving average is $15.29 and its two-hundred day moving average is $14.96. Fulton Financial Co. has a fifty-two week low of $9.64 and a fifty-two week high of $17.06.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend was Thursday, March 28th. Fulton Financial’s payout ratio is currently 42.24%.

About Fulton Financial

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.