CANADA LIFE ASSURANCE Co Has $3.79 Million Position in Fulton Financial Co. (NASDAQ:FULT)

CANADA LIFE ASSURANCE Co lessened its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 2.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 196,652 shares of the bank’s stock after selling 4,764 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Fulton Financial were worth $3,789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FULT. Dean Investment Associates LLC boosted its holdings in shares of Fulton Financial by 452.7% during the fourth quarter. Dean Investment Associates LLC now owns 150,169 shares of the bank’s stock worth $2,895,000 after acquiring an additional 123,001 shares during the period. Canada Pension Plan Investment Board acquired a new position in Fulton Financial in the 4th quarter valued at $2,269,000. Farringdon Capital Ltd. bought a new position in Fulton Financial during the 4th quarter worth $215,000. Jump Financial LLC acquired a new stake in shares of Fulton Financial during the fourth quarter worth $680,000. Finally, XTX Topco Ltd boosted its position in shares of Fulton Financial by 54.3% in the fourth quarter. XTX Topco Ltd now owns 22,688 shares of the bank’s stock valued at $437,000 after acquiring an additional 7,988 shares during the period. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Performance

Shares of Fulton Financial stock opened at $16.69 on Friday. The company’s 50 day moving average price is $17.56 and its two-hundred day moving average price is $19.15. The firm has a market capitalization of $3.04 billion, a P/E ratio of 10.63 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. Fulton Financial Co. has a fifty-two week low of $14.33 and a fifty-two week high of $22.49.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The business 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 earned $0.40 EPS. On average, equities analysts forecast that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.31%. Fulton Financial’s dividend payout ratio (DPR) is presently 42.35%.

Insider Buying and Selling

In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the sale, the president now owns 63,682 shares in the company, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.07% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.