Walleye Capital LLC Invests $192,000 in Fulton Financial Co. (NASDAQ:FULT)

Walleye Capital LLC acquired a new stake in Fulton Financial Co. (NASDAQ:FULT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 10,606 shares of the bank’s stock, valued at approximately $192,000.

Several other hedge funds have also recently bought and sold shares of the company. Family Firm Inc. purchased a new stake in Fulton Financial during the second quarter worth about $46,000. Coston McIsaac & Partners purchased a new stake in Fulton Financial during the 3rd quarter worth approximately $54,000. Blue Trust Inc. lifted its holdings in Fulton Financial by 21.9% during the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after buying an additional 691 shares in the last quarter. AE Wealth Management LLC purchased a new position in Fulton Financial in the 2nd quarter valued at approximately $172,000. Finally, MQS Management LLC acquired a new position in shares of Fulton Financial in the third quarter worth $189,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Insider Buying and Selling at Fulton Financial

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $21.16, for a total transaction of $511,902.72. Following the completion of the transaction, the chief executive officer now owns 155,946 shares in the company, valued at approximately $3,299,817.36. The trade was a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.07% of the stock is currently owned by corporate insiders.

Fulton Financial Price Performance

Shares of NASDAQ:FULT opened at $21.15 on Thursday. Fulton Financial Co. has a one year low of $13.87 and a one year high of $22.49. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 13.39 and a beta of 0.77. The company has a 50-day simple moving average of $19.60 and a 200-day simple moving average of $18.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. The firm had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. During the same period last year, the company earned $0.43 earnings per share. On average, analysts predict that Fulton Financial Co. will post 1.74 EPS for the current year.

Fulton Financial Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. StockNews.com lowered Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods boosted their price objective on Fulton Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th. Finally, Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.50.

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.