Y Intercept Hong Kong Ltd Makes New $1.78 Million Investment in Fulton Financial Co. (NASDAQ:FULT)

Y Intercept Hong Kong Ltd 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 98,406 shares of the bank’s stock, valued at approximately $1,784,000. Y Intercept Hong Kong Ltd owned about 0.05% of Fulton Financial at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Seven Eight Capital LP purchased a new position in shares of Fulton Financial in the second quarter worth $485,000. Segall Bryant & Hamill LLC acquired a new position in Fulton Financial during the third quarter worth $3,489,000. American Century Companies Inc. lifted its holdings in Fulton Financial by 18.6% during the second quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank’s stock valued at $51,323,000 after purchasing an additional 474,099 shares in the last quarter. Legato Capital Management LLC acquired a new stake in shares of Fulton Financial in the second quarter valued at about $1,003,000. Finally, Good Life Advisors LLC acquired a new position in shares of Fulton Financial during the 3rd quarter worth about $830,000. 72.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on FULT. Stephens upgraded Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday. StockNews.com lowered Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods upped their target price on shares of Fulton Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler set a $21.00 price target on shares of Fulton Financial in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.50.

Fulton Financial Stock Performance

Shares of FULT stock opened at $20.90 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $19.51 and a two-hundred day moving average of $18.34. The company has a market cap of $3.80 billion, a P/E ratio of 13.23 and a beta of 0.77. Fulton Financial Co. has a 52 week low of $13.87 and a 52 week high of $22.49.

Fulton Financial (NASDAQ:FULT) last issued its 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. The firm 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 last year, the company earned $0.43 earnings per share. As a group, analysts anticipate that Fulton Financial Co. will post 1.74 EPS for the current year.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.25%. Fulton Financial’s dividend payout ratio (DPR) is presently 43.04%.

Insider Transactions at Fulton Financial

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction on Friday, December 6th. The stock was sold at an average price of $21.16, for a total transaction of $511,902.72. Following the sale, the chief executive officer now owns 155,946 shares of the company’s stock, valued at $3,299,817.36. The trade was a 13.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.07% of the company’s stock.

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.