Capitolis Liquid Global Markets LLC Buys New Shares in Fulton Financial Corporation $FULT

Capitolis Liquid Global Markets LLC purchased a new stake in shares of Fulton Financial Corporation (NASDAQ:FULT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 339,400 shares of the bank’s stock, valued at approximately $6,323,000. Capitolis Liquid Global Markets LLC owned 0.19% of Fulton Financial as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position in shares of Fulton Financial by 373.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the bank’s stock valued at $30,000 after buying an additional 1,311 shares in the last quarter. State of Wyoming bought a new position in shares of Fulton Financial during the 2nd quarter valued at approximately $30,000. Parallel Advisors LLC increased its holdings in Fulton Financial by 69.0% in the 3rd quarter. Parallel Advisors LLC now owns 1,903 shares of the bank’s stock worth $35,000 after acquiring an additional 777 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Fulton Financial by 48.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,995 shares of the bank’s stock worth $38,000 after acquiring an additional 647 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in Fulton Financial by 1,533.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,173 shares of the bank’s stock worth $40,000 after acquiring an additional 2,040 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Performance

FULT opened at $19.65 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 9.45 and a beta of 0.85. The company has a fifty day moving average of $20.84 and a 200 day moving average of $19.42. Fulton Financial Corporation has a fifty-two week low of $14.32 and a fifty-two week high of $22.99.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Wednesday, January 21st. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. Fulton Financial had a net margin of 20.68% and a return on equity of 12.78%. The business had revenue of $336.02 million for the quarter, compared to analysts’ expectations of $336.80 million. During the same quarter in the previous year, the company earned $0.48 EPS. As a group, sell-side analysts forecast that Fulton Financial Corporation will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $0.19 dividend. This is an increase from Fulton Financial’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Wednesday, December 31st. Fulton Financial’s dividend payout ratio (DPR) is presently 36.54%.

Fulton Financial announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 16th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the bank to purchase up to 4.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. Keefe, Bruyette & Woods raised their price objective on shares of Fulton Financial from $20.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, November 26th. Finally, DA Davidson assumed coverage on shares of Fulton Financial in a research note on Wednesday, February 25th. They set a “neutral” rating and a $24.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.50.

Insider Activity at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $19.55, for a total transaction of $97,750.00. Following the completion of the transaction, the director directly owned 85,477 shares of the company’s stock, valued at approximately $1,671,075.35. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.07% of the company’s stock.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.