LMR Partners LLP Acquires Shares of 16,136 Fulton Financial Co. (NASDAQ:FULT)

LMR Partners LLP acquired a new stake in Fulton Financial Co. (NASDAQ:FULT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,136 shares of the bank’s stock, valued at approximately $293,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of Fulton Financial by 70.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 79,410 shares of the bank’s stock valued at $1,262,000 after purchasing an additional 32,941 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Fulton Financial in the first quarter valued at approximately $807,000. Seven Eight Capital LP bought a new position in shares of Fulton Financial in the second quarter valued at approximately $485,000. American Century Companies Inc. lifted its holdings in shares of Fulton Financial by 18.6% in the second quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank’s stock valued at $51,323,000 after purchasing an additional 474,099 shares in the last quarter. Finally, Good Life Advisors LLC bought a new position in shares of Fulton Financial in the third quarter valued at approximately $830,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com lowered Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Piper Sandler set a $21.00 price target on 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 issued a buy rating to the company. According to data from MarketBeat, Fulton Financial has an average rating of “Hold” and an average target price of $18.83.

Fulton Financial Stock Performance

Shares of FULT opened at $20.84 on Thursday. The firm has a market cap of $3.79 billion, a PE ratio of 13.19 and a beta of 0.73. The stock’s fifty day moving average price is $18.59 and its two-hundred day moving average price is $17.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. Fulton Financial Co. has a 1 year low of $13.84 and a 1 year high of $21.65.

Fulton Financial (NASDAQ:FULT) last issued 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 analyst estimates of $321.00 million. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. During the same period in the previous year, the company posted $0.43 earnings per share. On average, equities research analysts forecast that Fulton Financial Co. will post 1.74 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 43.04%.

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.