Thrivent Financial for Lutherans Grows Stake in Fulton Financial Co. (NASDAQ:FULT)

Thrivent Financial for Lutherans grew its stake in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 89.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 309,252 shares of the bank's stock after buying an additional 145,995 shares during the quarter. Thrivent Financial for Lutherans owned 0.17% of Fulton Financial worth $5,606,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC increased its position in shares of Fulton Financial by 511.1% in the second 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 during the last quarter. American Century Companies Inc. raised its position in Fulton Financial by 18.6% during 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 in the last quarter. Bank of New York Mellon Corp grew its position in shares of Fulton Financial by 28.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank's stock valued at $43,164,000 after acquiring an additional 567,771 shares during the period. Fulton Bank N.A. increased its stake in shares of Fulton Financial by 0.9% during the 2nd quarter. Fulton Bank N.A. now owns 2,057,813 shares of the bank's stock worth $34,942,000 after purchasing an additional 17,955 shares during the last quarter. Finally, Emerald Advisers LLC raised its holdings in shares of Fulton Financial by 213.6% in the 3rd quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank's stock valued at $23,706,000 after purchasing an additional 890,630 shares during the period. 72.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Fulton Financial Stock Up 1.7 %

NASDAQ FULT traded up $0.37 on Friday, hitting $21.61. 1,317,383 shares of the company were exchanged, compared to its average volume of 1,580,534. The stock has a fifty day moving average of $18.74 and a 200-day moving average of $17.98. Fulton Financial Co. has a 12 month low of $13.84 and a 12 month high of $21.72. The company has a market cap of $3.93 billion, a PE ratio of 13.68 and a beta of 0.73. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.06. The company had revenue of $487.33 million for the quarter, compared to analyst estimates 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 prior year, the business posted $0.43 EPS. As a group, analysts forecast that Fulton Financial Co. will post 1.74 earnings per share for the current 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 given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial's payout ratio is 43.04%.

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.