Dean Investment Associates LLC Cuts Stock Position in Fulton Financial Co. (NASDAQ:FULT)

Dean Investment Associates LLC lowered its position in Fulton Financial Co. (NASDAQ:FULT) by 83.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,168 shares of the bank’s stock after selling 132,936 shares during the period. Dean Investment Associates LLC’s holdings in Fulton Financial were worth $493,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FULT. QRG Capital Management Inc. grew its position in shares of Fulton Financial by 16.5% in the 2nd quarter. QRG Capital Management Inc. now owns 86,892 shares of the bank’s stock worth $1,475,000 after buying an additional 12,311 shares during the last quarter. AlphaMark Advisors LLC acquired a new stake in Fulton Financial during the 2nd quarter valued at approximately $308,000. Atwater Malick LLC purchased a new position in shares of Fulton Financial during the 2nd quarter valued at approximately $175,000. Blue Trust Inc. increased its holdings in shares of Fulton Financial by 21.9% during the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after purchasing an additional 691 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Fulton Financial by 12.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 91,400 shares of the bank’s stock valued at $1,552,000 after purchasing an additional 10,300 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Price Performance

Fulton Financial stock opened at $21.24 on Monday. Fulton Financial Co. has a 52-week low of $13.87 and a 52-week high of $22.49. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 13.44 and a beta of 0.78. The company has a fifty day simple moving average of $19.39 and a 200-day simple moving average of $18.28. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT) last released 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. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The business had revenue of $487.33 million during the quarter, compared to analyst estimates of $321.00 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. On average, equities analysts anticipate that Fulton Financial Co. will post 1.74 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.68 annualized dividend and a dividend yield of 3.20%. Fulton Financial’s payout ratio is 43.04%.

Wall Street Analyst Weigh In

FULT has been the subject of several recent research reports. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their price target on shares of Fulton Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Fulton Financial presently has an average rating of “Hold” and a consensus target price of $19.50.

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.