Hussman Strategic Advisors Inc. Invests $760,000 in Fulton Financial Corporation (NASDAQ:FULT)

Hussman Strategic Advisors Inc. acquired a new stake in Fulton Financial Corporation (NASDAQ:FULT - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 42,000 shares of the bank's stock, valued at approximately $760,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new stake in Fulton Financial during the 4th quarter worth about $279,000. Raymond James Financial Inc. acquired a new stake in shares of Fulton Financial in the fourth quarter valued at about $1,676,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Fulton Financial by 19.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,606 shares of the bank's stock valued at $879,000 after purchasing an additional 7,309 shares in the last quarter. HighTower Advisors LLC grew its stake in Fulton Financial by 1.4% in the fourth quarter. HighTower Advisors LLC now owns 63,321 shares of the bank's stock valued at $1,221,000 after purchasing an additional 849 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Fulton Financial by 0.8% during the 4th quarter. Swiss National Bank now owns 357,800 shares of the bank's stock worth $6,898,000 after purchasing an additional 2,900 shares during the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Price Performance

NASDAQ FULT traded down $0.03 on Tuesday, hitting $19.37. 1,722,998 shares of the company's stock were exchanged, compared to its average volume of 1,403,473. The stock has a 50-day moving average of $18.02 and a 200-day moving average of $18.32. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 11.33 and a beta of 0.77. Fulton Financial Corporation has a 52 week low of $14.33 and a 52 week high of $22.49. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.12. Fulton Financial had a return on equity of 12.44% and a net margin of 17.00%. The company had revenue of $328.45 million for the quarter, compared to analyst estimates of $320.47 million. During the same period in the previous year, the firm earned $0.52 earnings per share. Analysts expect that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a $0.18 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.72 annualized dividend and a yield of 3.72%. Fulton Financial's payout ratio is 42.11%.

Wall Street Analysts Forecast Growth

FULT has been the subject of a number of research reports. DA Davidson raised their target price on shares of Fulton Financial from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods raised their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Piper Sandler restated a "neutral" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $21.13.

Fulton Financial Company 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.