Fulton Financial Co. (NASDAQ:FULT) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its stake in Fulton Financial Co. (NASDAQ:FULT) by 130.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,119 shares of the bank’s stock after buying an additional 18,153 shares during the period. Los Angeles Capital Management LLC’s holdings in Fulton Financial were worth $582,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FULT. Russell Investments Group Ltd. increased its position in shares of Fulton Financial by 5.5% in the 1st quarter. Russell Investments Group Ltd. now owns 72,770 shares of the bank’s stock worth $1,156,000 after purchasing an additional 3,801 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Fulton Financial by 70.9% during 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 buying an additional 32,941 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Fulton Financial by 9.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 34,184 shares of the bank’s stock worth $535,000 after acquiring an additional 2,828 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Fulton Financial in the 1st quarter valued at approximately $1,941,000. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Fulton Financial by 4.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 145,196 shares of the bank’s stock valued at $2,304,000 after acquiring an additional 5,979 shares in the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Stock Performance

FULT stock opened at $21.15 on Friday. The stock’s fifty day moving average is $18.39 and its two-hundred day moving average is $17.84. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 13.39 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current 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 posted its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $321.00 million. During the same period in the previous year, the business posted $0.43 EPS. On average, research analysts predict that Fulton Financial Co. will post 1.74 EPS for the current year.

Fulton Financial Dividend Announcement

The firm 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. This represents a $0.68 annualized dividend and a yield of 3.22%. The ex-dividend date was Tuesday, October 1st. Fulton Financial’s dividend payout ratio is currently 43.04%.

Analyst Upgrades and Downgrades

A number of research firms have commented on FULT. 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 price target on shares of 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 issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.