Walleye Capital LLC Purchases Shares of 10,606 Fulton Financial Co. (NASDAQ:FULT)

Walleye Capital LLC acquired a new position in shares of Fulton Financial Co. (NASDAQ:FULT) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,606 shares of the bank’s stock, valued at approximately $192,000.

Other large investors have also made changes to their positions in the company. Family Firm Inc. acquired a new stake in Fulton Financial during the second quarter worth about $46,000. Coston McIsaac & Partners acquired a new stake in Fulton Financial during the 3rd quarter worth approximately $54,000. Blue Trust Inc. raised its holdings in Fulton Financial by 21.9% in the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after buying an additional 691 shares during the period. AE Wealth Management LLC acquired a new position in Fulton Financial during the second quarter valued at approximately $172,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Fulton Financial during the second quarter valued at approximately $178,000. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Stock Up 1.2 %

Shares of NASDAQ FULT opened at $21.15 on Thursday. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 13.39 and a beta of 0.77. Fulton Financial Co. has a 1 year low of $13.87 and a 1 year high of $22.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s 50-day simple moving average is $19.60 and its 200-day simple moving average is $18.36.

Fulton Financial (NASDAQ:FULT) last announced 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. The company had revenue of $487.33 million for the quarter, compared to analyst estimates of $321.00 million. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. During the same period in the prior year, the company posted $0.43 EPS. As a group, equities analysts anticipate that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.22%. Fulton Financial’s dividend payout ratio (DPR) is 43.04%.

Insiders Place Their Bets

In other news, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $21.16, for a total value 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. This trade represents a 13.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a research note on Thursday, October 17th. Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday. StockNews.com downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Finally, Keefe, Bruyette & Woods raised their target price on Fulton Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One research 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.