Dean Investment Associates LLC Has $493,000 Stake in Fulton Financial Co. (NASDAQ:FULT)

Dean Investment Associates LLC trimmed its holdings in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 83.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Fulton Financial by 4.4% during the third quarter. State Street Corp now owns 10,544,159 shares of the bank's stock worth $191,166,000 after purchasing an additional 444,219 shares during the last quarter. Millennium Management LLC increased its position in Fulton Financial by 511.1% in the 2nd quarter. Millennium Management LLC now owns 3,256,000 shares of the bank's stock valued at $55,287,000 after acquiring an additional 2,723,170 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Fulton Financial by 18.6% in the second quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank's stock worth $51,323,000 after acquiring an additional 474,099 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Fulton Financial by 28.8% during the second quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank's stock worth $43,164,000 after purchasing an additional 567,771 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Fulton Financial by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,358,099 shares of the bank's stock valued at $42,752,000 after purchasing an additional 31,754 shares in the last quarter. Institutional investors own 72.02% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FULT shares. Piper Sandler set a $21.00 target price on Fulton Financial in a research note on Thursday, October 17th. StockNews.com cut Fulton Financial from a "hold" rating to a "sell" rating in a report on Monday, November 11th. Keefe, Bruyette & Woods raised their target price on shares of Fulton Financial from $20.00 to $23.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Finally, Stephens raised shares of Fulton Financial from an "equal weight" rating to an "overweight" rating in a research note on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Fulton Financial currently has an average rating of "Hold" and an average target price of $19.50.

Insiders Place Their Bets

In related news, CEO Curtis J. Myers sold 24,192 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $21.16, for a total transaction of $511,902.72. Following the completion of the sale, the chief executive officer now directly owns 155,946 shares of the company's stock, valued at approximately $3,299,817.36. This represents a 13.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.07% of the company's stock.

Fulton Financial Trading Down 1.2 %

FULT traded down $0.26 during midday trading on Monday, reaching $20.98. 661,345 shares of the company were exchanged, compared to its average volume of 1,447,782. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $3.82 billion, a P/E ratio of 13.28 and a beta of 0.77. The stock's 50-day simple moving average is $19.44 and its 200 day simple moving average is $18.31. Fulton Financial Co. has a one year low of $13.87 and a one year high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.06. The firm had revenue of $487.33 million during the quarter, compared to analysts' expectations of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same quarter in the previous year, the company earned $0.43 earnings per share. As a group, analysts forecast that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.24%. The ex-dividend date was Tuesday, October 1st. Fulton Financial's payout ratio is presently 43.04%.

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.