Fulton Financial Co. (NASDAQ:FULT) Shares Sold by EMC Capital Management

EMC Capital Management lessened its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 60.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 9,000 shares of the bank’s stock after selling 13,607 shares during the period. EMC Capital Management’s holdings in Fulton Financial were worth $163,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in shares of Fulton Financial by 78.8% in the 1st quarter. BNP Paribas Financial Markets now owns 83,162 shares of the bank’s stock valued at $1,321,000 after acquiring an additional 36,663 shares during the last quarter. Texas Permanent School Fund Corp raised its position 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 acquired a new position in Fulton Financial in the first quarter valued at $66,000. QRG Capital Management Inc. raised its holdings in shares of Fulton Financial by 10.4% in the first quarter. QRG Capital Management Inc. now owns 74,581 shares of the bank’s stock valued at $1,185,000 after buying an additional 7,017 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings 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 worth $1,156,000 after buying an additional 3,801 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on FULT. Piper Sandler set a $21.00 target price on Fulton Financial in a research note on Thursday, October 17th. StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.83.

Fulton Financial Stock Down 0.3 %

Fulton Financial stock opened at $18.06 on Friday. Fulton Financial Co. has a fifty-two week low of $13.19 and a fifty-two week high of $20.33. 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 stock’s fifty day moving average is $18.10 and its two-hundred day moving average is $17.47. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 11.43 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT) last announced its quarterly 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. 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 the consensus estimate of $321.00 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Analysts predict that Fulton Financial Co. will post 1.75 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s payout ratio is currently 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.