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

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

Several other hedge funds have also recently modified their holdings of the stock. Family Firm Inc. acquired a new stake in Fulton Financial during the 2nd quarter worth $46,000. Coston McIsaac & Partners acquired a new stake in shares of Fulton Financial during the 3rd quarter worth approximately $54,000. Blue Trust Inc. increased its holdings in shares of Fulton Financial by 21.9% during the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after buying an additional 691 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Fulton Financial during the 1st quarter worth approximately $66,000. Finally, AE Wealth Management LLC acquired a new stake in Fulton Financial in the 2nd quarter valued at approximately $172,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Analyst Upgrades and Downgrades

FULT has been the subject of several recent research reports. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a research report on Thursday, October 17th. StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday. One research 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.83.

Fulton Financial Trading Up 3.1 %

NASDAQ FULT opened at $21.28 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $3.87 billion, a PE ratio of 13.47 and a beta of 0.73. Fulton Financial Co. has a one year low of $13.27 and a one year high of $21.65. The firm’s fifty day moving average is $18.19 and its two-hundred day moving average is $17.71.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $321.00 million. During the same period in the previous year, the business posted $0.43 earnings per share. Analysts expect that Fulton Financial Co. will post 1.74 earnings per share for the current 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 paid a dividend of $0.17 per share. 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 3.20%. Fulton Financial’s dividend payout ratio (DPR) is 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.