Victory Capital Management Inc. Has $11.91 Million Stock Position in Fulton Financial Co. (NASDAQ:FULT)

Victory Capital Management Inc. lowered its stake in Fulton Financial Co. (NASDAQ:FULT) by 15.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 657,019 shares of the bank’s stock after selling 115,863 shares during the period. Victory Capital Management Inc. owned 0.36% of Fulton Financial worth $11,912,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in shares of Fulton Financial by 5.5% during the first 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 period. State Board of Administration of Florida Retirement System lifted its holdings in shares of 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 worth $1,262,000 after purchasing an additional 32,941 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Fulton Financial by 9.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 34,184 shares of the bank’s stock worth $535,000 after purchasing an additional 2,828 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Fulton Financial by 4.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 145,196 shares of the bank’s stock worth $2,304,000 after purchasing an additional 5,979 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Fulton Financial by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 106,830 shares of the bank’s stock worth $1,698,000 after buying an additional 5,658 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Trading Up 0.6 %

FULT opened at $20.84 on Thursday. Fulton Financial Co. has a 1-year low of $13.84 and a 1-year high of $21.65. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.79 billion, a P/E ratio of 13.19 and a beta of 0.73. The company has a fifty day moving average price of $18.59 and a two-hundred day moving average price of $17.92.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $321.00 million. During the same period in the previous year, the firm posted $0.43 earnings per share. Analysts predict that Fulton Financial Co. will post 1.74 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s payout ratio is presently 43.04%.

Wall Street Analysts Forecast Growth

FULT has been the subject of a number of analyst reports. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a research note on Thursday, October 17th. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.83.

Fulton Financial 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.