Versor Investments LP Purchases New Position in Fulton Financial Co. (NASDAQ:FULT)

Versor Investments LP purchased a new stake in Fulton Financial Co. (NASDAQ:FULT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 60,100 shares of the bank’s stock, valued at approximately $1,090,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BNP Paribas Financial Markets boosted its position in shares of Fulton Financial by 78.8% during the 1st quarter. BNP Paribas Financial Markets now owns 83,162 shares of the bank’s stock worth $1,321,000 after acquiring an additional 36,663 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in Fulton Financial by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 143,357 shares of the bank’s stock valued at $2,278,000 after purchasing an additional 1,538 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Fulton Financial during the first quarter valued at $66,000. QRG Capital Management Inc. raised its stake in shares of Fulton Financial by 10.4% during the first quarter. QRG Capital Management Inc. now owns 74,581 shares of the bank’s stock valued at $1,185,000 after acquiring an additional 7,017 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Fulton Financial by 5.5% during the first quarter. Russell Investments Group Ltd. now owns 72,770 shares of the bank’s stock valued at $1,156,000 after acquiring an additional 3,801 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a research note on Thursday, October 17th. One investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.83.

Fulton Financial Stock Performance

NASDAQ FULT opened at $21.28 on Tuesday. The company’s 50 day moving average is $18.19 and its 200-day moving average is $17.71. The firm has a market cap of $3.87 billion, a P/E ratio of 13.47 and a beta of 0.73. Fulton Financial Co. has a 12-month low of $13.27 and a 12-month high of $21.65. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.14%. 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 company earned $0.43 earnings per share. Sell-side 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. Stockholders of record on Tuesday, October 1st were paid 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 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.