Stewardship Advisors LLC Purchases Shares of 17,553 Fulton Financial Co. (NASDAQ:FULT)

Stewardship Advisors LLC acquired a new position in shares of Fulton Financial Co. (NASDAQ:FULT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,553 shares of the bank’s stock, valued at approximately $318,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Fulton Financial by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock valued at $320,061,000 after purchasing an additional 216,465 shares during the period. Millennium Management LLC boosted its position in shares of Fulton Financial by 511.1% during the second quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock worth $55,287,000 after purchasing an additional 2,723,170 shares in the last quarter. American Century Companies Inc. increased its position in shares of Fulton Financial by 18.6% in the 2nd quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank’s stock valued at $51,323,000 after buying an additional 474,099 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Fulton Financial by 28.8% during the second 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 in the last quarter. Finally, Fulton Bank N.A. lifted its holdings 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 valued at $34,942,000 after purchasing an additional 17,955 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a research note on Thursday. Jefferies Financial Group cut their target price on Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Finally, StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.83.

Fulton Financial Stock Performance

Shares of FULT traded down $0.50 during mid-day trading on Monday, reaching $17.58. The company’s stock had a trading volume of 744,809 shares, compared to its average volume of 1,468,497. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The stock has a market cap of $3.20 billion, a P/E ratio of 11.23 and a beta of 0.73. Fulton Financial Co. has a 1-year low of $11.99 and a 1-year high of $20.33. The business has a 50-day simple moving average of $18.12 and a two-hundred day simple moving average of $17.29.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $487.33 million during the quarter, compared to analysts’ expectations of $321.00 million. Fulton Financial had a net margin of 17.93% and a return on equity of 11.29%. During the same period in the previous year, the business posted $0.43 earnings per share. As a group, equities research analysts anticipate that Fulton Financial Co. will post 1.73 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Tuesday, October 1st. Fulton Financial’s dividend payout ratio is presently 42.24%.

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.