Comerica Bank Has $1.29 Million Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Comerica Bank decreased its stake in Fulton Financial Co. (NASDAQ:FULT) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,089 shares of the bank’s stock after selling 2,726 shares during the period. Comerica Bank’s holdings in Fulton Financial were worth $1,293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in FULT. Jones Financial Companies Lllp increased its stake in shares of Fulton Financial by 193.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank’s stock valued at $25,000 after buying an additional 853 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Fulton Financial by 57.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank’s stock valued at $42,000 after purchasing an additional 800 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Fulton Financial during the 4th quarter valued at about $44,000. Covestor Ltd boosted its position in shares of Fulton Financial by 196.9% during the 4th quarter. Covestor Ltd now owns 3,976 shares of the bank’s stock valued at $76,000 after purchasing an additional 2,637 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Fulton Financial by 10.3% during the 4th quarter. Blue Trust Inc. now owns 5,455 shares of the bank’s stock valued at $99,000 after purchasing an additional 509 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FULT. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Piper Sandler cut their target price on Fulton Financial from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Hovde Group upped their target price on Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research report on Monday, January 27th. DA Davidson restated a “neutral” rating and set a $20.00 target price on shares of Fulton Financial in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut their price target on Fulton Financial from $24.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.30.

Fulton Financial Stock Down 0.6%

Shares of NASDAQ:FULT opened at $17.40 on Monday. The business’s 50 day simple moving average is $17.04 and its two-hundred day simple moving average is $19.11. The firm has a market cap of $3.17 billion, a P/E ratio of 11.08 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial Co. has a 52-week low of $14.33 and a 52-week high of $22.49.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.08. The business had revenue of $322.64 million for the quarter, compared to analyst estimates 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 company earned $0.40 earnings per share. As a group, research analysts forecast that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Tuesday, April 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 42.35%.

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.