Fulton Financial Co. (NASDAQ:FULT) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lowered its position in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 48.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 487,962 shares of the bank's stock after selling 456,846 shares during the quarter. Verition Fund Management LLC owned approximately 0.27% of Fulton Financial worth $8,847,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Family Firm Inc. bought a new position in shares of Fulton Financial in the 2nd quarter worth $46,000. Coston McIsaac & Partners bought a new position in Fulton Financial in the third quarter worth about $54,000. Blue Trust Inc. raised its holdings in Fulton Financial by 21.9% in the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank's stock worth $61,000 after purchasing an additional 691 shares in the last quarter. AE Wealth Management LLC purchased a new stake in shares of Fulton Financial during the second quarter valued at about $172,000. Finally, Atwater Malick LLC bought a new stake in shares of Fulton Financial in the 2nd quarter valued at about $175,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Stock Performance

Shares of NASDAQ FULT traded down $0.11 during midday trading on Monday, reaching $21.47. The company had a trading volume of 1,051,909 shares, compared to its average volume of 1,463,115. Fulton Financial Co. has a 1 year low of $13.87 and a 1 year high of $22.49. The business's 50-day simple moving average is $19.06 and its 200 day simple moving average is $18.14. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.91 billion, a P/E ratio of 13.66 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued 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 return on equity of 11.33% and a net margin of 16.37%. The company had revenue of $487.33 million during the quarter, compared to analysts' expectations of $321.00 million. During the same quarter in the previous year, the firm posted $0.43 EPS. On average, analysts forecast that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial's dividend payout ratio is presently 43.04%.

Analysts Set New Price Targets

Several research firms recently commented on FULT. StockNews.com lowered shares of Fulton Financial from a "hold" rating to a "sell" rating in a research note on Monday, November 11th. Piper Sandler set a $21.00 price target on Fulton Financial in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.