GAMMA Investing LLC Raises Position in Fulton Financial Co. (NASDAQ:FULT)

GAMMA Investing LLC boosted its holdings in Fulton Financial Co. (NASDAQ:FULT) by 2,471.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,572 shares of the bank’s stock after buying an additional 53,411 shares during the period. GAMMA Investing LLC’s holdings in Fulton Financial were worth $1,005,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in Fulton Financial by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 22,383,504 shares of the bank’s stock valued at $431,554,000 after buying an additional 285,376 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Fulton Financial by 5.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,321,387 shares of the bank’s stock valued at $83,316,000 after purchasing an additional 216,118 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Fulton Financial by 35.3% during the 4th quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank’s stock valued at $49,782,000 after purchasing an additional 673,559 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Fulton Financial by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 2,517,149 shares of the bank’s stock valued at $48,530,000 after purchasing an additional 47,338 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Fulton Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank’s stock valued at $45,837,000 after purchasing an additional 19,329 shares in the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Price Performance

Shares of NASDAQ FULT opened at $17.18 on Tuesday. The stock has a market capitalization of $3.12 billion, a P/E ratio of 10.94 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. Fulton Financial Co. has a 1 year low of $14.33 and a 1 year high of $22.49. The company’s 50-day moving average is $17.03 and its 200 day moving average is $18.62.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. The business had revenue of $322.64 million for the quarter, compared to analysts’ expectations of $315.07 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. On average, sell-side analysts expect that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on FULT. DA Davidson restated a “neutral” rating and set a $20.00 price target on shares of Fulton Financial in a research report on Wednesday, April 16th. Piper Sandler dropped their price objective on shares of Fulton Financial from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Fulton Financial from $24.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Fulton Financial presently has a consensus rating of “Hold” and a consensus price target of $20.30.

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.