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

Hussman Strategic Advisors Inc. purchased a new position in Fulton Financial Corporation (NASDAQ:FULT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,000 shares of the bank's stock, valued at approximately $760,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Summit Investment Advisors Inc. raised its holdings in Fulton Financial by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 18,997 shares of the bank's stock worth $366,000 after purchasing an additional 602 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Fulton Financial by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,303 shares of the bank's stock worth $657,000 after purchasing an additional 684 shares during the period. Xponance Inc. raised its holdings in Fulton Financial by 5.5% in the 1st quarter. Xponance Inc. now owns 13,775 shares of the bank's stock worth $249,000 after purchasing an additional 717 shares during the period. Blue Trust Inc. raised its holdings in Fulton Financial by 15.1% in the 1st quarter. Blue Trust Inc. now owns 5,728 shares of the bank's stock worth $104,000 after purchasing an additional 752 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Fulton Financial by 57.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock worth $42,000 after purchasing an additional 800 shares during the period. Hedge funds and other institutional investors own 72.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on FULT shares. Keefe, Bruyette & Woods raised their price objective on Fulton Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a research report on Thursday. Jefferies Financial Group reaffirmed a "hold" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Piper Sandler reissued a "neutral" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Finally, DA Davidson increased 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. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $21.13.

Fulton Financial Trading Down 0.6%

Fulton Financial stock traded down $0.12 during trading hours on Friday, reaching $19.62. 3,550,223 shares of the company's stock traded hands, compared to its average volume of 1,403,762. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 0.89. Fulton Financial Corporation has a fifty-two week low of $14.33 and a fifty-two week high of $22.49. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 11.47 and a beta of 0.77. The firm's 50 day moving average is $18.02 and its 200-day moving average is $18.33.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, July 15th. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.12. Fulton Financial had a net margin of 17.00% and a return on equity of 12.44%. The business had revenue of $328.45 million during the quarter, compared to analysts' expectations of $320.47 million. During the same period last year, the business earned $0.52 earnings per share. On average, analysts predict that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.72 dividend on an annualized basis and a yield of 3.67%. Fulton Financial's dividend payout ratio (DPR) is 42.11%.

About Fulton Financial

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.