Victory Capital Management Inc. trimmed its stake in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 15.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 657,019 shares of the bank's stock after selling 115,863 shares during the quarter. Victory Capital Management Inc. owned about 0.36% of Fulton Financial worth $11,912,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of FULT. Millennium Management LLC lifted its position 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 boosted its position in shares of Fulton Financial by 213.6% during the 3rd quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank's stock worth $23,706,000 after acquiring an additional 890,630 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Fulton Financial by 272.2% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank's stock valued at $15,622,000 after acquiring an additional 630,152 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Fulton Financial by 710.0% in the second quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank's stock valued at $11,880,000 after acquiring an additional 613,272 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position 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 valued at $43,164,000 after purchasing an additional 567,771 shares in the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on FULT shares. Piper Sandler set a $21.00 price target on Fulton Financial in a research note on Thursday, October 17th. StockNews.com lowered Fulton Financial from a "hold" rating to a "sell" rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Fulton Financial has a consensus rating of "Hold" and an average price target of $18.83.
Read Our Latest Research Report on FULT
Fulton Financial Trading Up 1.9 %
Shares of NASDAQ:FULT traded up $0.40 during midday trading on Thursday, hitting $21.24. 1,286,265 shares of the stock were exchanged, compared to its average volume of 1,476,073. The business's 50-day moving average price is $18.59 and its 200 day moving average price is $17.92. Fulton Financial Co. has a 12 month low of $13.84 and a 12 month high of $21.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 13.19 and a beta of 0.73.
Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. The firm had revenue of $487.33 million during the quarter, compared to analysts' expectations of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same period in the prior year, the company posted $0.43 EPS. Analysts predict that Fulton Financial Co. will post 1.74 earnings per share for the current year.
Fulton Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given 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 3.20%. Fulton Financial's dividend payout ratio (DPR) is presently 43.04%.
Fulton Financial 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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