Fulton Financial Co. (NASDAQ:FULT) Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 51.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 39,362 shares of the bank’s stock after selling 41,004 shares during the period. Royce & Associates LP’s holdings in Fulton Financial were worth $714,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in FULT. Family Firm Inc. acquired a new position in shares of Fulton Financial during the second quarter valued at approximately $46,000. Coston McIsaac & Partners acquired a new position in shares of Fulton Financial during the 3rd quarter valued at $54,000. Blue Trust Inc. raised 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 worth $61,000 after buying an additional 691 shares in the last quarter. AE Wealth Management LLC acquired a new stake in shares of Fulton Financial in the second quarter valued at $172,000. Finally, Atwater Malick LLC bought a new position in Fulton Financial during the second quarter valued at about $175,000. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Stock Performance

Shares of FULT stock opened at $20.84 on Thursday. The stock’s fifty day simple moving average is $18.59 and its 200-day simple moving average is $17.92. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 13.19 and a beta of 0.73. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. Fulton Financial Co. has a 1-year low of $13.84 and a 1-year high of $21.65.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $321.00 million. During the same period in the previous year, the firm posted $0.43 earnings per share. On average, sell-side analysts predict that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a $0.17 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.26%. Fulton Financial’s dividend payout ratio is currently 43.04%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FULT shares. Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a research report on Thursday, October 17th. StockNews.com cut Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.83.

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.