GSA Capital Partners LLP Takes $1.42 Million Position in Fulton Financial Co. (NASDAQ:FULT)

GSA Capital Partners LLP purchased a new position in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 78,488 shares of the bank's stock, valued at approximately $1,423,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versor Investments LP bought a new stake in shares of Fulton Financial in the 3rd quarter worth about $1,090,000. Los Angeles Capital Management LLC increased its position in shares of Fulton Financial by 130.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 32,119 shares of the bank's stock worth $582,000 after purchasing an additional 18,153 shares during the last quarter. RKL Wealth Management LLC increased its position in shares of Fulton Financial by 16.8% in the 3rd quarter. RKL Wealth Management LLC now owns 56,972 shares of the bank's stock worth $1,033,000 after purchasing an additional 8,175 shares during the last quarter. Olympiad Research LP increased its position in shares of Fulton Financial by 13.5% in the 3rd quarter. Olympiad Research LP now owns 13,418 shares of the bank's stock worth $243,000 after purchasing an additional 1,594 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of Fulton Financial by 13.8% in the 3rd quarter. QRG Capital Management Inc. now owns 98,858 shares of the bank's stock worth $1,792,000 after purchasing an additional 11,966 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company's stock.

Fulton Financial Price Performance

Shares of FULT stock traded down $0.08 during midday trading on Thursday, reaching $21.04. 212,013 shares of the company were exchanged, compared to its average volume of 1,479,112. Fulton Financial Co. has a 12 month low of $13.84 and a 12 month high of $21.65. The company has a market cap of $3.83 billion, a P/E ratio of 13.37 and a beta of 0.73. The company's 50 day moving average price is $18.28 and its two-hundred day moving average price is $17.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.93.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its quarterly 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. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The company had revenue of $487.33 million for the quarter, compared to the consensus estimate of $321.00 million. During the same period in the previous year, the firm earned $0.43 EPS. On average, sell-side analysts expect that Fulton Financial Co. will post 1.74 earnings per share for the current year.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a $0.17 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.23%. Fulton Financial's payout ratio is currently 43.04%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FULT shares. StockNews.com lowered shares of Fulton Financial from a "hold" rating to a "sell" rating in a report on Monday. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price 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.