Versor Investments LP Takes $1.09 Million Position in Fulton Financial Co. (NASDAQ:FULT)

Versor Investments LP purchased a new stake in Fulton Financial Co. (NASDAQ:FULT - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 60,100 shares of the bank's stock, valued at approximately $1,090,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FULT. Millennium Management LLC grew its stake in Fulton Financial by 511.1% during the second quarter. Millennium Management LLC now owns 3,256,000 shares of the bank's stock worth $55,287,000 after purchasing an additional 2,723,170 shares during the period. Emerald Advisers LLC grew its stake in Fulton Financial by 213.6% during the third quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank's stock worth $23,706,000 after purchasing an additional 890,630 shares during the period. Emerald Mutual Fund Advisers Trust grew its stake in Fulton Financial by 272.2% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank's stock worth $15,622,000 after purchasing an additional 630,152 shares during the period. The Manufacturers Life Insurance Company grew its stake in Fulton Financial by 710.0% during the second quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank's stock worth $11,880,000 after purchasing an additional 613,272 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Fulton Financial by 28.8% during the second quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank's stock worth $43,164,000 after purchasing an additional 567,771 shares during the period. Institutional investors and hedge funds own 72.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FULT. Piper Sandler set a $21.00 target price on Fulton Financial in a research note on Thursday, October 17th. StockNews.com cut Fulton Financial from a "hold" rating to a "sell" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Fulton Financial currently has a consensus rating of "Hold" and an average price target of $18.83.

Fulton Financial Stock Down 0.7 %

Shares of FULT stock traded down $0.14 during trading hours on Tuesday, reaching $21.14. The company had a trading volume of 1,781,866 shares, compared to its average volume of 1,481,418. Fulton Financial Co. has a 12 month low of $13.27 and a 12 month high of $21.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.90 and a quick ratio of 0.90. The business has a fifty day simple moving average of $18.19 and a 200-day simple moving average of $17.71. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 13.47 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.06. Fulton Financial had a return on equity of 11.14% and a net margin of 16.37%. The company had revenue of $487.33 million for the quarter, compared to analyst estimates of $321.00 million. During the same quarter last year, the company earned $0.43 earnings per share. On average, research analysts expect that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.22%. Fulton Financial's dividend payout ratio is presently 43.04%.

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.