Victory Capital Management Inc. Has $11.91 Million Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Victory Capital Management Inc. lowered its position in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 15.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 657,019 shares of the bank's stock after selling 115,863 shares during the period. Victory Capital Management Inc. owned 0.36% of Fulton Financial worth $11,912,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of FULT. State Board of Administration of Florida Retirement System increased its stake in shares of Fulton Financial by 70.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 79,410 shares of the bank's stock valued at $1,262,000 after purchasing an additional 32,941 shares during the period. Tidal Investments LLC acquired a new stake in Fulton Financial in the 1st quarter valued at approximately $807,000. Seven Eight Capital LP bought a new stake in Fulton Financial during the 2nd quarter valued at $485,000. American Century Companies Inc. boosted its position in Fulton Financial by 18.6% during the 2nd quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank's stock worth $51,323,000 after acquiring an additional 474,099 shares during the period. Finally, Good Life Advisors LLC bought a new position in shares of Fulton Financial in the third quarter worth $830,000. 72.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Fulton Financial from a "hold" rating to a "sell" rating in a research report on Monday, November 11th. Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $18.83.

Fulton Financial Trading Up 0.6 %

Shares of NASDAQ:FULT opened at $20.84 on Thursday. Fulton Financial Co. has a 1 year low of $13.84 and a 1 year high of $21.65. The firm has a fifty day moving average price of $18.59 and a 200 day moving average price of $17.92. The stock has a market capitalization of $3.79 billion, a PE ratio of 13.19 and a beta of 0.73. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.06. The firm had revenue of $487.33 million during the quarter, compared to analyst estimates of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same quarter in the previous year, the business earned $0.43 EPS. Analysts expect that Fulton Financial Co. will post 1.74 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial's payout ratio is presently 43.04%.

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.