Dean Capital Management Sells 30,637 Shares of Fulton Financial Corporation $FULT

Key Points

• Dean Capital Management has reduced its stake in Fulton Financial Corporation by 30.3%, selling 30,637 shares and retaining 70,571 shares valued at approximately $1,277,000.
• Fulton Financial reported earnings of $0.55 per share for the last quarter, exceeding analysts' expectations of $0.43, with a revenue of $328.45 million.
• The company recently announced a quarterly dividend of $0.18, resulting in an annualized yield of 3.7% and a payout ratio of 42.11%.

Dean Capital Management cut its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 30.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,571 shares of the bank's stock after selling 30,637 shares during the period. Dean Capital Management's holdings in Fulton Financial were worth $1,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of FULT. Nuveen LLC bought a new stake in shares of Fulton Financial in the 1st quarter valued at about $17,263,000. Millennium Management LLC increased its stake in shares of Fulton Financial by 149.9% in the 4th quarter. Millennium Management LLC now owns 1,478,735 shares of the bank's stock valued at $28,510,000 after acquiring an additional 886,991 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Fulton Financial by 133.7% in the 4th quarter. Nuveen Asset Management LLC now owns 1,239,500 shares of the bank's stock valued at $23,898,000 after acquiring an additional 709,015 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Fulton Financial in the 4th quarter valued at about $4,773,000. Finally, Voloridge Investment Management LLC increased its stake in shares of Fulton Financial by 85.9% in the 4th quarter. Voloridge Investment Management LLC now owns 438,043 shares of the bank's stock valued at $8,445,000 after acquiring an additional 202,347 shares during the last quarter. 72.02% of the stock is owned by institutional investors.

Insider Activity at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $18.41, for a total value of $92,050.00. Following the completion of the sale, the director owned 599,102 shares of the company's stock, valued at approximately $11,029,467.82. This represents a 0.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.08% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on FULT shares. DA Davidson upped their price target on Fulton Financial from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods raised their target price on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Jefferies Financial Group restated a "hold" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Finally, Piper Sandler restated a "neutral" rating on shares of Fulton Financial in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $21.13.

Fulton Financial Stock Down 1.3%

Shares of FULT traded down $0.26 during mid-day trading on Monday, hitting $19.17. 207,166 shares of the company's stock were exchanged, compared to its average volume of 1,426,499. The company has a market cap of $3.49 billion, a PE ratio of 11.21 and a beta of 0.85. Fulton Financial Corporation has a 52 week low of $14.32 and a 52 week high of $22.49. The company has a 50-day simple moving average of $18.93 and a 200 day simple moving average of $17.94. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.92.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.12. The company 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 12.64%. During the same period last year, the business earned $0.52 EPS. On average, research analysts forecast that Fulton Financial Corporation will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, July 1st. Fulton Financial's dividend payout ratio is presently 42.11%.

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.