Fulton Financial Co. (NASDAQ:FULT) Stock Position Cut by Royce & Associates LP

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 its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,362 shares of the bank's stock after selling 41,004 shares during the period. Royce & Associates LP's holdings in Fulton Financial were worth $714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornercap Investment Counsel Inc. acquired a new stake in shares of Fulton Financial during the third quarter worth about $248,000. MQS Management LLC purchased a new position in Fulton Financial in the third quarter valued at approximately $189,000. GSA Capital Partners LLP acquired a new stake in Fulton Financial during the 3rd quarter worth $1,423,000. Versor Investments LP acquired a new stake in shares of Fulton Financial during the third quarter worth about $1,090,000. Finally, Los Angeles Capital Management LLC lifted its stake in Fulton Financial by 130.0% in the third quarter. Los Angeles Capital Management LLC now owns 32,119 shares of the bank's stock valued at $582,000 after buying an additional 18,153 shares during the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Fulton Financial Stock Up 0.6 %

Shares of NASDAQ:FULT opened at $20.84 on Thursday. The company has a market capitalization of $3.79 billion, a P/E ratio of 13.19 and a beta of 0.73. 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 Co. has a 52-week low of $13.84 and a 52-week high of $21.65. The stock's fifty day simple moving average is $18.59 and its 200-day simple moving average is $17.92.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The company 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 business earned $0.43 earnings per share. As a group, equities research analysts forecast that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The firm 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 dividend yield of 3.26%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial's dividend 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.