BNP Paribas Financial Markets Has $1.62 Million Position in Fulton Financial Co. (NASDAQ:FULT)

BNP Paribas Financial Markets grew its holdings in Fulton Financial Co. (NASDAQ:FULT) by 145.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 89,378 shares of the bank’s stock after acquiring an additional 52,997 shares during the period. BNP Paribas Financial Markets’ holdings in Fulton Financial were worth $1,620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. QRG Capital Management Inc. increased its stake in Fulton Financial by 16.5% in the second quarter. QRG Capital Management Inc. now owns 86,892 shares of the bank’s stock valued at $1,475,000 after acquiring an additional 12,311 shares during the period. AlphaMark Advisors LLC acquired a new stake in Fulton Financial during the second quarter valued at approximately $308,000. Atwater Malick LLC acquired a new stake in Fulton Financial during the second quarter valued at approximately $175,000. Blue Trust Inc. grew its stake in shares of Fulton Financial by 21.9% in the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after purchasing an additional 691 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Fulton Financial by 12.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 91,400 shares of the bank’s stock worth $1,552,000 after buying an additional 10,300 shares in the last quarter. 72.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. StockNews.com cut Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Fulton Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.50.

Fulton Financial Price Performance

Shares of FULT stock opened at $21.24 on Friday. The stock’s fifty day moving average is $19.39 and its 200-day moving average is $18.27. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. Fulton Financial Co. has a 52 week low of $13.87 and a 52 week high of $22.49. The stock has a market capitalization of $3.87 billion, a PE ratio of 13.44 and a beta of 0.78.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data 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 analysts’ expectations of $321.00 million. During the same quarter last year, the company posted $0.43 EPS. Equities research analysts expect that Fulton Financial Co. will post 1.74 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s dividend payout ratio is 43.04%.

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.