Azora Capital LP Boosts Holdings in Fulton Financial Co. (NASDAQ:FULT)

Azora Capital LP raised its stake in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 303,544 shares of the bank's stock after buying an additional 23,458 shares during the period. Azora Capital LP owned about 0.17% of Fulton Financial worth $5,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY boosted its position in Fulton Financial by 2.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 22,132 shares of the bank's stock valued at $376,000 after buying an additional 527 shares during the period. CIBC Asset Management Inc boosted its position in Fulton Financial by 3.7% in the 2nd quarter. CIBC Asset Management Inc now owns 16,883 shares of the bank's stock valued at $287,000 after buying an additional 605 shares during the period. Blue Trust Inc. boosted its position in Fulton Financial by 21.9% in the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank's stock valued at $61,000 after buying an additional 691 shares during the period. Meridian Wealth Partners LLC boosted its position in Fulton Financial by 4.7% in the 2nd quarter. Meridian Wealth Partners LLC now owns 27,557 shares of the bank's stock valued at $468,000 after buying an additional 1,230 shares during the period. Finally, Olympiad Research LP boosted its position in Fulton Financial by 13.5% in the 3rd quarter. Olympiad Research LP now owns 13,418 shares of the bank's stock valued at $243,000 after buying an additional 1,594 shares during the period. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Stock Performance

NASDAQ FULT traded down $0.11 during mid-day trading on Monday, reaching $21.47. 1,049,309 shares of the stock were exchanged, compared to its average volume of 1,460,380. The business's 50 day moving average is $19.06 and its 200-day moving average is $18.14. Fulton Financial Co. has a 1 year low of $13.87 and a 1 year high of $22.49. The company has a market capitalization of $3.91 billion, a P/E ratio of 13.66 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly 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 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 prior year, the firm posted $0.43 earnings per share. On average, equities research analysts forecast that Fulton Financial Co. will post 1.74 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial's payout ratio is 43.04%.

Analysts Set New Price Targets

FULT has been the subject of several recent research reports. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a report on Thursday, October 17th. 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 given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $18.83.

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.