SouthState Corp acquired a new position in shares of Fulton Financial Co. (NASDAQ:FULT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,000 shares of the bank’s stock, valued at approximately $61,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. WBI Investments Inc. purchased a new position in Fulton Financial during the 3rd quarter worth $281,000. Teacher Retirement System of Texas increased its holdings in Fulton Financial by 22.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 26,161 shares of the bank’s stock worth $400,000 after purchasing an additional 4,759 shares during the period. Inspire Investing LLC purchased a new position in Fulton Financial during the 3rd quarter worth $238,000. Richard Bernstein Advisors LLC increased its holdings in Fulton Financial by 5.9% during the 3rd quarter. Richard Bernstein Advisors LLC now owns 239,741 shares of the bank’s stock worth $3,663,000 after purchasing an additional 13,323 shares during the period. Finally, Jennison Associates LLC increased its holdings in Fulton Financial by 30.3% during the 3rd quarter. Jennison Associates LLC now owns 155,259 shares of the bank’s stock worth $2,372,000 after purchasing an additional 36,064 shares during the period. Institutional investors own 62.47% of the company’s stock.
Shares of NASDAQ:FULT opened at $18.88 on Friday. Fulton Financial Co. has a 12-month low of $13.25 and a 12-month high of $18.92. The business’s fifty day simple moving average is $16.91 and its 200-day simple moving average is $16.13. The company has a market capitalization of $3.05 billion, a PE ratio of 12.10 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25.
The business also recently declared a quarterly dividend, which was paid on Friday, January 14th. Stockholders of record on Friday, December 31st were issued a $0.14 dividend. The ex-dividend date was Thursday, December 30th. This is an increase from Fulton Financial’s previous quarterly dividend of $0.04. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.97%. Fulton Financial’s dividend payout ratio (DPR) is currently 35.90%.
In related news, EVP David M. Campbell acquired 10,300 shares of the firm’s stock in a transaction dated Monday, November 22nd. The stock was acquired at an average price of $17.00 per share, with a total value of $175,100.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel R. Stolzer sold 6,000 shares of the business’s stock in a transaction dated Thursday, October 21st. The shares were sold at an average price of $16.94, for a total value of $101,640.00. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.
Separately, Zacks Investment Research upgraded Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, January 5th.
About Fulton Financial
Fulton Financial Corp. is financial holding company, which through its subsidiaries, engages in the provision of consumer and commercial banking products and services. It offers checking account and savings deposit products, certificates of deposit and individual retirement accounts. The company also offers investment management, trust, brokerage, insurance and investment advisory services to consumer and commercial banking customers in the market areas serviced by the subsidiary banks.
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