Y Intercept Hong Kong Ltd purchased a new position in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 98,406 shares of the bank's stock, valued at approximately $1,784,000. Y Intercept Hong Kong Ltd owned about 0.05% of Fulton Financial as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of FULT. Quarry LP acquired a new position in Fulton Financial in the 3rd quarter valued at approximately $33,000. Family Firm Inc. acquired a new position in shares of Fulton Financial in the second quarter valued at $46,000. Coston McIsaac & Partners bought a new position in Fulton Financial in the third quarter worth $54,000. Blue Trust Inc. boosted its stake in Fulton Financial by 21.9% during the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank's stock worth $61,000 after buying an additional 691 shares in the last quarter. Finally, AE Wealth Management LLC bought a new stake in Fulton Financial in the 2nd quarter valued at $172,000. 72.02% of the stock is owned by institutional investors.
Fulton Financial Price Performance
Shares of FULT stock traded up $0.25 during trading hours on Wednesday, reaching $21.15. 904,185 shares of the company were exchanged, compared to its average volume of 1,442,480. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 13.23 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. The stock's fifty day moving average is $19.51 and its two-hundred day moving average is $18.34. Fulton Financial Co. has a fifty-two week low of $13.87 and a fifty-two week high of $22.49.
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 the consensus estimate of $0.44 by $0.06. The company 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 quarter in the previous year, the company earned $0.43 EPS. Sell-side analysts forecast that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.
Fulton Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Tuesday, October 1st. Fulton Financial's dividend payout ratio (DPR) is 43.04%.
Insider Activity at Fulton Financial
In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 155,946 shares in the company, valued at approximately $3,299,817.36. This trade represents a 13.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.07% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on FULT. Stephens upgraded shares of Fulton Financial from an "equal weight" rating to an "overweight" rating in a research report on Monday. Keefe, Bruyette & Woods lifted their price objective on Fulton Financial from $20.00 to $23.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. StockNews.com cut Fulton Financial from a "hold" rating to a "sell" rating in a report on Monday, November 11th. Finally, Piper Sandler set a $21.00 price target on Fulton Financial in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $19.50.
Check Out Our Latest Analysis on FULT
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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