Janus Henderson Group PLC Lowers Stake in Fulton Financial Co. (NASDAQ:FULT)

Janus Henderson Group PLC lessened its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,931,801 shares of the bank’s stock after selling 8,668 shares during the period. Janus Henderson Group PLC owned approximately 1.61% of Fulton Financial worth $46,585,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Fulton Financial by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock worth $196,188,000 after buying an additional 297,923 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Fulton Financial by 70.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 79,410 shares of the bank’s stock worth $1,262,000 after buying an additional 32,941 shares during the period. Entropy Technologies LP purchased a new stake in shares of Fulton Financial in the first quarter worth about $452,000. BNP Paribas Financial Markets boosted its position in shares of Fulton Financial by 78.8% in the first quarter. BNP Paribas Financial Markets now owns 83,162 shares of the bank’s stock worth $1,321,000 after buying an additional 36,663 shares during the period. Finally, Rafferty Asset Management LLC boosted its position in shares of Fulton Financial by 53.7% in the fourth quarter. Rafferty Asset Management LLC now owns 270,480 shares of the bank’s stock worth $4,452,000 after buying an additional 94,538 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on FULT. Keefe, Bruyette & Woods boosted their price target on Fulton Financial from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 30th. Stephens boosted their price target on Fulton Financial from $15.50 to $17.50 and gave the stock an “equal weight” rating in a research note on Tuesday, May 7th. DA Davidson increased their price target on Fulton Financial from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. Jefferies Financial Group dropped their price target on Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Finally, Janney Montgomery Scott raised Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price objective for the company in a report on Monday, April 29th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.40.

Fulton Financial Stock Performance

FULT stock traded up $0.04 on Tuesday, reaching $19.71. The company’s stock had a trading volume of 1,759,575 shares, compared to its average volume of 1,514,421. Fulton Financial Co. has a 52 week low of $11.63 and a 52 week high of $20.33. The company has a market capitalization of $3.58 billion, a P/E ratio of 12.22 and a beta of 0.75. The firm has a fifty day moving average of $17.18 and a two-hundred day moving average of $16.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.91.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, July 16th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.22. The firm had revenue of $334.71 million during the quarter, compared to analyst estimates of $296.38 million. Fulton Financial had a return on equity of 11.09% and a net margin of 17.93%. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. As a group, analysts predict that Fulton Financial Co. will post 1.7 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Monday, July 1st. Fulton Financial’s payout ratio is currently 42.24%.

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.