Victory Capital Management Inc. Has $20.68 Million Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Victory Capital Management Inc. lessened its position in Fulton Financial Co. (NASDAQ:FULT – Get Rating) by 28.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,236,101 shares of the bank’s stock after selling 489,868 shares during the period. Victory Capital Management Inc. owned about 0.74% of Fulton Financial worth $20,680,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC boosted its stake in shares of Fulton Financial by 55.0% in the 4th quarter. Signaturefd LLC now owns 1,815 shares of the bank’s stock valued at $31,000 after purchasing an additional 644 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Fulton Financial by 455.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,168 shares of the bank’s stock worth $34,000 after buying an additional 1,778 shares in the last quarter. Lazard Asset Management LLC lifted its position in Fulton Financial by 1,554.1% during the 1st quarter. Lazard Asset Management LLC now owns 2,200 shares of the bank’s stock worth $36,000 after buying an additional 2,067 shares in the last quarter. Almanack Investment Partners LLC. acquired a new position in Fulton Financial during the 3rd quarter worth about $42,000. Finally, Ronald Blue Trust Inc. lifted its position in Fulton Financial by 172.8% during the 4th quarter. Ronald Blue Trust Inc. now owns 2,884 shares of the bank’s stock worth $46,000 after buying an additional 1,827 shares in the last quarter. Institutional investors and hedge funds own 64.84% of the company’s stock.

Insider Buying and Selling

In other Fulton Financial news, CFO Mark R. Mccollom bought 10,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was acquired at an average cost of $9.74 per share, with a total value of $97,400.00. Following the purchase, the chief financial officer now owns 71,503 shares in the company, valued at $696,439.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Mark R. Mccollom purchased 10,000 shares of Fulton Financial stock in a transaction on Thursday, May 11th. The stock was purchased at an average price of $9.74 per share, with a total value of $97,400.00. Following the transaction, the chief financial officer now directly owns 71,503 shares in the company, valued at approximately $696,439.22. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Curtis J. Myers purchased 15,000 shares of Fulton Financial stock in a transaction on Friday, May 12th. The shares were purchased at an average cost of $9.81 per share, with a total value of $147,150.00. Following the transaction, the chief executive officer now owns 157,044 shares in the company, valued at $1,540,601.64. The disclosure for this purchase can be found here. In the last three months, insiders sold 20,467 shares of company stock valued at $274,013. 0.98% of the stock is owned by corporate insiders.

Fulton Financial Stock Performance

Shares of FULT stock opened at $11.21 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $1.85 billion, a PE ratio of 6.67 and a beta of 0.76. The stock has a 50-day moving average of $12.69 and a 200-day moving average of $15.61. Fulton Financial Co. has a one year low of $9.64 and a one year high of $18.91.

Fulton Financial (NASDAQ:FULT – Get Rating) last posted its earnings results on Wednesday, April 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). Fulton Financial had a return on equity of 13.03% and a net margin of 24.14%. The business had revenue of $267.34 million for the quarter, compared to the consensus estimate of $281.45 million. During the same period in the previous year, the company posted $0.38 earnings per share. Fulton Financial’s revenue for the quarter was up 23.4% compared to the same quarter last year. As a group, sell-side analysts expect that Fulton Financial Co. will post 1.64 earnings per share for the current year.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Monday, April 3rd were paid a dividend of $0.15 per share. The ex-dividend date was Friday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 5.35%. Fulton Financial’s payout ratio is 35.71%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FULT shares. Keefe, Bruyette & Woods reduced their price target on shares of Fulton Financial from $20.00 to $16.00 and set a “market perform” rating on the stock in a research report on Thursday, April 6th. StockNews.com started coverage on shares of Fulton Financial in a research report on Thursday. They set a “sell” rating on the stock. DA Davidson reduced their price target on shares of Fulton Financial from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, April 20th. Finally, Piper Sandler dropped their price objective on Fulton Financial from $15.00 to $14.00 in a report on Thursday, April 20th.

Fulton Financial Company Profile

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Fulton Financial Corp. is financial holding company, which through its subsidiaries, engages in the provision of consumer and commercial banking products and services. It offers checking account and savings deposit products, certificates of deposit and individual retirement accounts. The company also offers investment management, trust, brokerage, insurance and investment advisory services to consumer and commercial banking customers in the market areas serviced by the subsidiary banks.