Wealth Enhancement Advisory Services LLC Acquires 3,345 Shares of Fulton Financial Co. (NASDAQ:FULT)

Wealth Enhancement Advisory Services LLC increased its stake in Fulton Financial Co. (NASDAQ:FULT) by 11.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,015 shares of the bank’s stock after acquiring an additional 3,345 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Fulton Financial were worth $580,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in shares of Fulton Financial by 511.1% in the 2nd quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock valued at $55,287,000 after purchasing an additional 2,723,170 shares during the last quarter. American Century Companies Inc. raised its holdings in Fulton Financial by 18.6% during the 2nd quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank’s stock valued at $51,323,000 after buying an additional 474,099 shares during the period. Bank of New York Mellon Corp lifted its position in Fulton Financial by 28.8% in the second quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank’s stock worth $43,164,000 after buying an additional 567,771 shares during the last quarter. Fulton Bank N.A. lifted its position in Fulton Financial by 0.9% in the second quarter. Fulton Bank N.A. now owns 2,057,813 shares of the bank’s stock worth $34,942,000 after buying an additional 17,955 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Fulton Financial by 6.4% during the second quarter. Principal Financial Group Inc. now owns 1,008,894 shares of the bank’s stock worth $17,131,000 after buying an additional 60,575 shares during the period. 72.02% of the stock is owned by institutional investors.

Fulton Financial Stock Down 4.8 %

Shares of FULT opened at $20.34 on Friday. The firm has a fifty day moving average price of $18.13 and a 200-day moving average price of $17.60. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $3.70 billion, a P/E ratio of 12.87 and a beta of 0.73. Fulton Financial Co. has a 12-month low of $13.19 and a 12-month high of $21.47.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, October 15th. The bank reported $0.50 EPS 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 the consensus estimate of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.14%. During the same period in the prior year, the firm earned $0.43 EPS. Equities research analysts expect that Fulton Financial Co. will post 1.75 earnings per share for the current year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s dividend payout ratio is 43.04%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FULT shares. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.83.

Fulton Financial 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.