Royce & Associates LP Sells 41,004 Shares of Fulton Financial Co. (NASDAQ:FULT)

Royce & Associates LP lowered its position in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 51.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,362 shares of the bank's stock after selling 41,004 shares during the quarter. Royce & Associates LP's holdings in Fulton Financial were worth $714,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Family Firm Inc. bought a new stake in Fulton Financial during the second quarter worth $46,000. Coston McIsaac & Partners bought a new stake in Fulton Financial during the third quarter worth $54,000. Blue Trust Inc. raised its position in Fulton Financial by 21.9% during the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank's stock worth $61,000 after acquiring an additional 691 shares in the last quarter. AE Wealth Management LLC bought a new position in shares of Fulton Financial in the second quarter valued at about $172,000. Finally, Atwater Malick LLC bought a new position in shares of Fulton Financial in the second quarter valued at about $175,000. Institutional investors and hedge funds own 72.02% of the company's stock.

Analyst Ratings Changes

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

Fulton Financial Stock Performance

Shares of FULT stock traded up $0.45 on Thursday, hitting $21.29. The company's stock had a trading volume of 660,880 shares, compared to its average volume of 1,476,231. 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's 50 day moving average is $18.67 and its 200-day moving average is $17.94. Fulton Financial Co. has a fifty-two week low of $13.84 and a fifty-two week high of $21.65. The company has a market capitalization of $3.87 billion, a PE ratio of 13.47 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $487.33 million for the quarter, compared to the consensus estimate of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same period in the prior year, the company posted $0.43 earnings per share. Equities research analysts expect 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. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.19%. Fulton Financial's payout ratio is 43.04%.

About Fulton Financial

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.