Stieven Capital Advisors L.P. Sells 1,300 Shares of Fulton Financial Co. (NASDAQ:FULT)

Stieven Capital Advisors L.P. lowered its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 0.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 138,600 shares of the bank’s stock after selling 1,300 shares during the quarter. Stieven Capital Advisors L.P.’s holdings in Fulton Financial were worth $2,513,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Millennium Management LLC grew its holdings in shares of Fulton Financial by 511.1% during the 2nd quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock valued at $55,287,000 after purchasing an additional 2,723,170 shares during the last quarter. American Century Companies Inc. grew its holdings in Fulton Financial by 18.6% in the 2nd 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 during the last quarter. Bank of New York Mellon Corp grew its holdings in 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 worth $43,164,000 after acquiring an additional 567,771 shares during the last quarter. Fulton Bank N.A. grew its holdings in Fulton Financial by 0.9% in the 2nd quarter. Fulton Bank N.A. now owns 2,057,813 shares of the bank’s stock worth $34,942,000 after acquiring an additional 17,955 shares during the last quarter. Finally, Emerald Advisers LLC grew its holdings in Fulton Financial by 213.6% in the 3rd quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank’s stock worth $23,706,000 after acquiring an additional 890,630 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Trading Up 0.8 %

Shares of FULT opened at $21.15 on Friday. The firm’s 50-day moving average price is $18.39 and its 200-day moving average price is $17.84. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 13.39 and a beta of 0.73. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. Fulton Financial Co. has a 1-year low of $13.84 and a 1-year high of $21.65.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The firm 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 previous year, the firm posted $0.43 EPS. Sell-side analysts anticipate that Fulton Financial Co. will post 1.74 EPS for the current year.

Fulton Financial Announces Dividend

The firm also recently declared 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. The ex-dividend date was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.22%. Fulton Financial’s dividend payout ratio (DPR) is currently 43.04%.

Analysts Set New Price Targets

A number of brokerages have issued reports on FULT. StockNews.com lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.83.

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.