Key Financial Inc Sells 12,530 Shares of Fulton Financial Co. (NASDAQ:FULT)

Key Financial Inc cut its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 21.8% in the third quarter, HoldingsChannel reports. The firm owned 44,833 shares of the bank’s stock after selling 12,530 shares during the period. Key Financial Inc’s holdings in Fulton Financial were worth $813,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Family Firm Inc. bought a new stake in shares of Fulton Financial in the second quarter valued at about $46,000. Coston McIsaac & Partners purchased a new position in Fulton Financial during the 3rd quarter valued at about $54,000. Blue Trust Inc. raised its holdings in shares of 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 purchasing an additional 691 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Fulton Financial in the 1st quarter worth approximately $66,000. Finally, AE Wealth Management LLC bought a new position in shares of Fulton Financial during the second quarter valued at approximately $172,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Stock Down 0.3 %

FULT stock traded down $0.05 on Friday, hitting $18.06. 893,600 shares of the company’s stock were exchanged, compared to its average volume of 1,463,511. The firm has a 50 day moving average price of $18.10 and a two-hundred day moving average price of $17.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial Co. has a 12-month low of $13.19 and a 12-month high of $20.33. The stock has a market cap of $3.29 billion, a P/E ratio of 11.43 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 11.14%. During the same quarter in the prior year, the company posted $0.43 earnings per share. As a group, equities research analysts expect that Fulton Financial Co. will post 1.75 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. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 annualized dividend and a dividend yield of 3.77%. Fulton Financial’s payout ratio is currently 43.04%.

Wall Street Analyst Weigh In

FULT has been the subject of a number of analyst reports. Piper Sandler set a $21.00 target price on Fulton Financial in a report on Thursday, October 17th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Fulton Financial currently has an average rating of “Hold” and a consensus price target of $18.83.

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.