GSA Capital Partners LLP Makes New Investment in Fulton Financial Co. (NASDAQ:FULT)

GSA Capital Partners LLP acquired a new stake in shares of Fulton Financial Co. (NASDAQ:FULT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 78,488 shares of the bank’s stock, valued at approximately $1,423,000.

Other large investors also recently modified their holdings of the company. Family Firm Inc. bought a new stake in Fulton Financial during the second quarter valued at about $46,000. Coston McIsaac & Partners purchased a new stake in shares of Fulton Financial during the third quarter worth about $54,000. Blue Trust Inc. raised its stake in Fulton Financial by 21.9% during the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after purchasing an additional 691 shares during the period. Headlands Technologies LLC purchased a new position in Fulton Financial in the 1st quarter worth approximately $66,000. Finally, AE Wealth Management LLC bought a new position in Fulton Financial in the 2nd quarter worth approximately $172,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Trading Down 0.1 %

Shares of FULT opened at $21.12 on Thursday. Fulton Financial Co. has a fifty-two week low of $13.84 and a fifty-two week high of $21.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.93. The company’s fifty day moving average is $18.28 and its 200 day moving average is $17.77. The stock has a market capitalization of $3.84 billion, a PE ratio of 13.37 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT) last announced its 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 for 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 earned $0.43 EPS. Sell-side analysts expect that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s dividend payout ratio is currently 43.04%.

Analyst Upgrades and Downgrades

FULT has been the topic of several research analyst reports. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Fulton Financial has an average rating of “Hold” and a consensus price target of $18.83.

Fulton Financial Company 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.