Quantbot Technologies LP Invests $426,000 in Fulton Financial Co. (NASDAQ:FULT)

Quantbot Technologies LP purchased a new stake in shares of Fulton Financial Co. (NASDAQ:FULT) during the third quarter, Holdings Channel reports. The institutional investor purchased 23,503 shares of the bank’s stock, valued at approximately $426,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Advantage Alpha Capital Partners LP lifted its position in shares of Fulton Financial by 19.6% during the third quarter. Advantage Alpha Capital Partners LP now owns 26,818 shares of the bank’s stock worth $486,000 after acquiring an additional 4,396 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Fulton Financial in the 3rd quarter worth about $882,000. Fisher Asset Management LLC grew its holdings in Fulton Financial by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 1,908,477 shares of the bank’s stock valued at $34,601,000 after buying an additional 77,072 shares in the last quarter. Cerity Partners LLC increased its position in shares of Fulton Financial by 28.0% during the third quarter. Cerity Partners LLC now owns 49,399 shares of the bank’s stock valued at $896,000 after buying an additional 10,820 shares during the period. Finally, Citigroup Inc. lifted its holdings in shares of Fulton Financial by 7.6% in the third quarter. Citigroup Inc. now owns 404,878 shares of the bank’s stock worth $7,340,000 after buying an additional 28,539 shares in the last quarter. 72.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FULT shares. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th. StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Fulton Financial presently has a consensus rating of “Hold” and an average target price of $18.83.

Fulton Financial Price Performance

Shares of NASDAQ:FULT opened at $21.08 on Wednesday. Fulton Financial Co. has a one year low of $13.87 and a one year high of $22.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 13.34 and a beta of 0.78. The company’s fifty day moving average price is $19.12 and its 200-day moving average price is $18.16.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. The business had revenue of $487.33 million for the quarter, compared to the consensus estimate of $321.00 million. During the same quarter last year, the business posted $0.43 earnings per share. On average, equities research analysts anticipate that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.23%. Fulton Financial’s payout ratio is 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.