Fulton Financial Corporation $FULT Shares Sold by Versor Investments LP

Versor Investments LP lowered its stake in Fulton Financial Corporation (NASDAQ:FULT) by 46.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 32,665 shares of the bank’s stock after selling 28,235 shares during the quarter. Versor Investments LP’s holdings in Fulton Financial were worth $589,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Teacher Retirement System of Texas lifted its holdings in Fulton Financial by 42.2% in the second quarter. Teacher Retirement System of Texas now owns 43,627 shares of the bank’s stock worth $787,000 after purchasing an additional 12,947 shares during the period. AlphaQuest LLC lifted its stake in shares of Fulton Financial by 771.6% in the 2nd quarter. AlphaQuest LLC now owns 138,512 shares of the bank’s stock worth $2,499,000 after acquiring an additional 122,621 shares during the period. Wilmington Savings Fund Society FSB lifted its position in Fulton Financial by 5.5% in the second quarter. Wilmington Savings Fund Society FSB now owns 32,510 shares of the bank’s stock worth $586,000 after purchasing an additional 1,700 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Fulton Financial in the second quarter worth approximately $186,000. Finally, Vest Financial LLC lifted its position in Fulton Financial by 100.7% in the second quarter. Vest Financial LLC now owns 167,681 shares of the bank’s stock worth $3,025,000 after purchasing an additional 84,152 shares during the period. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Stock Down 1.2%

Shares of NASDAQ:FULT opened at $17.33 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $3.16 billion, a PE ratio of 9.07 and a beta of 0.82. Fulton Financial Corporation has a 52 week low of $14.32 and a 52 week high of $22.49. The firm has a 50 day simple moving average of $18.54 and a 200 day simple moving average of $18.17.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, November 8th. The bank reported $0.45 EPS for the quarter. The business had revenue of $236.96 million during the quarter. Fulton Financial had a net margin of 19.01% and a return on equity of 12.55%. As a group, research analysts expect that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Fulton Financial’s dividend payout ratio is currently 37.70%.

Analyst Ratings Changes

FULT has been the subject of a number of research analyst reports. DA Davidson upped their target price on Fulton Financial from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Jefferies Financial Group reissued a “hold” rating on shares of Fulton Financial in a report on Wednesday, July 9th. Zacks Research lowered shares of Fulton Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $20.00 target price (down from $22.00) on shares of Fulton Financial in a research note on Thursday, October 23rd. Finally, Weiss Ratings downgraded Fulton Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Fulton Financial currently has a consensus rating of “Hold” and a consensus price target of $20.70.

Insider Transactions at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $19.28, for a total value of $96,400.00. Following the completion of the sale, the director directly owned 90,477 shares of the company’s stock, valued at $1,744,396.56. This represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.08% 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.