State Street Corp Boosts Stock Position in Fulton Financial Co. (NASDAQ:FULT)

State Street Corp boosted its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,544,159 shares of the bank’s stock after acquiring an additional 444,219 shares during the quarter. State Street Corp owned about 0.06% of Fulton Financial worth $191,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of FULT. Quarry LP purchased a new stake in shares of Fulton Financial in the third quarter valued at about $33,000. Centiva Capital LP acquired a new stake in Fulton Financial in the third quarter valued at about $581,000. Azora Capital LP boosted its holdings in Fulton Financial by 8.4% in the 3rd quarter. Azora Capital LP now owns 303,544 shares of the bank’s stock valued at $5,503,000 after purchasing an additional 23,458 shares in the last quarter. Edgestream Partners L.P. increased its position in Fulton Financial by 203.9% during the 3rd quarter. Edgestream Partners L.P. now owns 252,900 shares of the bank’s stock worth $4,585,000 after purchasing an additional 169,684 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of Fulton Financial during the 3rd quarter worth approximately $192,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Trading Down 0.7 %

Shares of FULT stock opened at $21.01 on Friday. The stock has a market cap of $3.82 billion, a P/E ratio of 13.30 and a beta of 0.78. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. Fulton Financial Co. has a fifty-two week low of $13.87 and a fifty-two week high of $22.49. The business has a fifty day simple moving average of $19.67 and a 200-day simple moving average of $18.38.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share 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 11.33%. The firm had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. During the same period last year, the firm posted $0.43 EPS. On average, analysts forecast 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. Investors of record on Tuesday, October 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s payout ratio is currently 43.04%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FULT. Keefe, Bruyette & Woods lifted their price target on Fulton Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a report on Thursday, October 17th. Finally, Stephens raised shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.50.

Insider Buying and Selling at Fulton Financial

In related news, CEO Curtis J. Myers sold 24,192 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the transaction, the chief executive officer now owns 155,946 shares of the company’s stock, valued at approximately $3,299,817.36. The trade was a 13.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.07% of the stock is owned by insiders.

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.