Nomura Asset Management Co. Ltd. Increases Stock Position in Fulton Financial Co. (NASDAQ:FULT)

Nomura Asset Management Co. Ltd. grew its stake in Fulton Financial Co. (NASDAQ:FULT) by 57.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,200 shares of the bank’s stock after buying an additional 800 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Fulton Financial were worth $42,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Nordea Investment Management AB increased its stake in Fulton Financial by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 567,790 shares of the bank’s stock valued at $11,007,000 after acquiring an additional 34,844 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fulton Financial by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank’s stock worth $45,837,000 after purchasing an additional 19,329 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Fulton Financial by 130.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank’s stock valued at $10,104,000 after purchasing an additional 315,435 shares during the last quarter. EMC Capital Management raised its holdings in shares of Fulton Financial by 151.2% during the 4th quarter. EMC Capital Management now owns 22,607 shares of the bank’s stock valued at $436,000 after buying an additional 13,607 shares in the last quarter. Finally, Allworth Financial LP lifted its position in Fulton Financial by 1,255.1% in the 4th quarter. Allworth Financial LP now owns 20,381 shares of the bank’s stock worth $420,000 after buying an additional 18,877 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Performance

Shares of NASDAQ:FULT opened at $16.24 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $19.24 and a 200-day moving average price of $19.42. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 10.34 and a beta of 0.76. Fulton Financial Co. has a 12 month low of $13.87 and a 12 month high of $22.49.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.06. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period in the previous year, the company posted $0.42 earnings per share. As a group, equities analysts anticipate that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Tuesday, April 1st. Fulton Financial’s payout ratio is currently 45.86%.

Analysts Set New Price Targets

FULT has been the topic of a number of recent research reports. StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. DA Davidson increased their target price on shares of Fulton Financial from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price target on shares of Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, January 23rd. Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Finally, Hovde Group boosted their target price on Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research note on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.64.

Insiders Place Their Bets

In related news, President Angela M. Snyder sold 13,322 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $20.69, for a total transaction of $275,632.18. Following the transaction, the president now owns 63,682 shares in the company, valued at $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.07% of the company’s stock.

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.