Jane Street Group LLC lowered its position in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 59.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 127,803 shares of the bank's stock after selling 188,267 shares during the quarter. Jane Street Group LLC owned about 0.07% of Fulton Financial worth $2,317,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in FULT. Quarry LP purchased a new stake in Fulton Financial in the third quarter valued at approximately $33,000. Coston McIsaac & Partners purchased a new stake in shares of Fulton Financial in the 3rd quarter valued at $54,000. Blue Trust Inc. increased its stake in shares of Fulton Financial by 28.8% in the third quarter. Blue Trust Inc. now owns 4,946 shares of the bank's stock worth $84,000 after acquiring an additional 1,106 shares during the period. AE Wealth Management LLC acquired a new stake in shares of Fulton Financial in the second quarter worth $172,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Fulton Financial during the second quarter worth $178,000. Hedge funds and other institutional investors own 72.02% of the company's stock.
Fulton Financial Price Performance
NASDAQ FULT traded down $0.09 during trading hours on Monday, reaching $19.51. The company's stock had a trading volume of 1,397,679 shares, compared to its average volume of 1,451,712. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 12.35 and a beta of 0.77. The company's 50-day moving average is $20.00 and its two-hundred day moving average is $18.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. Fulton Financial Co. has a 1-year low of $13.87 and a 1-year high of $22.49.
Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. The business had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. During the same period in the prior year, the company posted $0.43 EPS. On average, equities analysts predict that Fulton Financial Co. will post 1.74 EPS for the current year.
Fulton Financial Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.18 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from Fulton Financial's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 3.69%. Fulton Financial's dividend payout ratio (DPR) is currently 45.57%.
Insider Buying and Selling
In other news, CEO Curtis J. Myers sold 24,192 shares of the company's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $21.16, for a total transaction of $511,902.72. Following the completion of the sale, the chief executive officer now owns 155,946 shares of the company's stock, valued at $3,299,817.36. This represents a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.07% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on FULT shares. Stephens raised Fulton Financial from an "equal weight" rating to an "overweight" rating in a research report on Monday, December 9th. Piper Sandler set a $21.00 target price on Fulton Financial in a report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price target on Fulton Financial from $20.00 to $23.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Finally, StockNews.com lowered Fulton Financial from a "hold" rating to a "sell" rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $19.50.
Check Out Our Latest Analysis on Fulton Financial
Fulton Financial Company Profile
(
Free Report)
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.
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