Swiss National Bank Purchases 2,900 Shares of Fulton Financial Co. (NASDAQ:FULT)

Swiss National Bank raised its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 354,900 shares of the bank’s stock after acquiring an additional 2,900 shares during the quarter. Swiss National Bank owned approximately 0.20% of Fulton Financial worth $6,434,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FULT. Thrivent Financial for Lutherans raised its stake in Fulton Financial by 89.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 309,252 shares of the bank’s stock valued at $5,606,000 after purchasing an additional 145,995 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in shares of Fulton Financial during the third quarter valued at approximately $248,000. MQS Management LLC purchased a new position in shares of Fulton Financial in the third quarter worth $189,000. GSA Capital Partners LLP bought a new position in shares of Fulton Financial during the third quarter worth $1,423,000. Finally, Versor Investments LP bought a new position in shares of Fulton Financial during the third quarter worth $1,090,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Trading Down 1.4 %

FULT opened at $21.69 on Wednesday. Fulton Financial Co. has a 12 month low of $13.84 and a 12 month high of $22.49. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $18.82 and a 200 day moving average of $18.02. The firm has a market cap of $3.95 billion, a P/E ratio of 13.73 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 for the quarter, beating the consensus estimate of $0.44 by $0.06. The business had revenue of $487.33 million for the quarter, compared to the consensus estimate of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same quarter in the prior year, the firm posted $0.43 earnings per share. As a group, research analysts forecast that Fulton Financial Co. will post 1.74 EPS for the current year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 43.04%.

Wall Street Analysts Forecast Growth

FULT has been the topic of a number of research reports. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Piper Sandler set a $21.00 target price on Fulton Financial in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.