Fulton Financial Corporation (NASDAQ:FULT) Stock Holdings Decreased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in shares of Fulton Financial Corporation (NASDAQ:FULT) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,516 shares of the bank’s stock after selling 1,057 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Fulton Financial were worth $480,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. IFG Advisory LLC acquired a new stake in Fulton Financial during the 1st quarter valued at $301,000. Strategic Family Wealth Counselors L.L.C. purchased a new position in shares of Fulton Financial during the first quarter valued at $252,000. Readystate Asset Management LP acquired a new position in Fulton Financial during the first quarter valued at $536,000. Y Intercept Hong Kong Ltd lifted its stake in Fulton Financial by 369.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 52,080 shares of the bank’s stock worth $942,000 after acquiring an additional 40,997 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in Fulton Financial by 2.0% in the 1st quarter. Private Advisor Group LLC now owns 35,552 shares of the bank’s stock worth $643,000 after acquiring an additional 704 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $18.41, for a total value of $92,050.00. Following the completion of the sale, the director directly owned 599,102 shares in the company, valued at $11,029,467.82. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.07% of the stock is owned by company insiders.

Analyst Ratings Changes

FULT has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their target price on Fulton Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research note on Thursday, July 17th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Piper Sandler reiterated a “neutral” rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Finally, DA Davidson boosted their price target on shares of Fulton Financial from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Fulton Financial presently has an average rating of “Hold” and a consensus target price of $21.13.

Fulton Financial Price Performance

Shares of FULT opened at $17.82 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a market cap of $3.24 billion, a PE ratio of 10.42 and a beta of 0.82. The firm’s 50 day moving average price is $18.21 and its 200 day moving average price is $18.12. Fulton Financial Corporation has a twelve month low of $14.32 and a twelve month high of $22.49.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, July 15th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. The firm had revenue of $328.45 million during the quarter, compared to analysts’ expectations of $320.47 million. Fulton Financial had a net margin of 17.00% and a return on equity of 12.44%. During the same period in the previous year, the company earned $0.52 earnings per share. As a group, research analysts expect that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were paid a $0.18 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.72 dividend on an annualized basis and a yield of 4.0%. Fulton Financial’s payout ratio is 42.11%.

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.