Fulton Financial Co. (NASDAQ:FULT) Stake Increased by Azora Capital LP

Azora Capital LP lifted its holdings in Fulton Financial Co. (NASDAQ:FULT) by 8.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 303,544 shares of the bank’s stock after acquiring an additional 23,458 shares during the quarter. Azora Capital LP’s holdings in Fulton Financial were worth $5,503,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Family Firm Inc. purchased a new stake in Fulton Financial in the 2nd quarter worth about $46,000. Coston McIsaac & Partners acquired a new position in shares of Fulton Financial in the 3rd quarter valued at about $54,000. Blue Trust Inc. lifted its position in shares of Fulton Financial by 21.9% in the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after purchasing an additional 691 shares in the last quarter. AE Wealth Management LLC acquired a new stake in shares of Fulton Financial during the second quarter worth approximately $172,000. Finally, Atwater Malick LLC acquired a new stake in shares of Fulton Financial during the second quarter worth approximately $175,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Price Performance

Shares of FULT opened at $21.58 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $3.93 billion, a PE ratio of 13.66 and a beta of 0.73. The firm’s 50 day moving average price is $19.06 and its 200 day moving average price is $18.13. Fulton Financial Co. has a twelve month low of $13.87 and a twelve month high of $22.49.

Fulton Financial (NASDAQ:FULT) last released its quarterly 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 business 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 11.33%. During the same quarter last year, the firm earned $0.43 EPS. As a group, research analysts expect that Fulton Financial Co. will post 1.74 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a $0.17 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.15%. Fulton Financial’s dividend payout ratio is currently 43.04%.

Analysts Set New Price Targets

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