Stewardship Advisors LLC Takes $318,000 Position in Fulton Financial Co. (NASDAQ:FULT)

Stewardship Advisors LLC acquired a new position in shares of Fulton Financial Co. (NASDAQ:FULT) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 17,553 shares of the bank’s stock, valued at approximately $318,000.

A number of other institutional investors and hedge funds have also bought and sold shares of FULT. Millennium Management LLC lifted its position in shares of Fulton Financial by 511.1% during the 2nd quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock valued at $55,287,000 after buying an additional 2,723,170 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Fulton Financial by 710.0% in the second quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank’s stock worth $11,880,000 after purchasing an additional 613,272 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Fulton Financial by 28.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank’s stock valued at $43,164,000 after acquiring an additional 567,771 shares during the period. American Century Companies Inc. raised its holdings in Fulton Financial by 18.6% during the 2nd quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank’s stock valued at $51,323,000 after buying an additional 474,099 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Fulton Financial during the 2nd quarter valued at $7,292,000. 72.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on FULT. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Piper Sandler set a $21.00 target price on Fulton Financial in a research report on Thursday. Finally, Jefferies Financial Group dropped their target price on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Fulton Financial presently has an average rating of “Hold” and a consensus target price of $18.83.

Fulton Financial Trading Down 2.8 %

NASDAQ FULT traded down $0.50 during trading on Monday, hitting $17.58. The stock had a trading volume of 744,809 shares, compared to its average volume of 1,468,497. Fulton Financial Co. has a twelve month low of $11.99 and a twelve month high of $20.33. The firm has a 50 day moving average price of $18.12 and a 200 day moving average price of $17.29. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $3.20 billion, a PE ratio of 11.23 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. Fulton Financial had a return on equity of 11.29% and a net margin of 17.93%. During the same period in the prior year, the business posted $0.43 EPS. As a group, equities research analysts forecast that Fulton Financial Co. will post 1.73 earnings per share for the current year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s dividend payout ratio is presently 42.24%.

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.