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 reduced its position in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 30.3% in the 1st quarter, according to the company in its most recent 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 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FULT. Schonfeld Strategic Advisors LLC bought a new stake in shares of Fulton Financial during the 4th quarter worth $205,000. Cetera Investment Advisers boosted its holdings in shares of Fulton Financial by 24.3% during the 4th quarter. Cetera Investment Advisers now owns 23,463 shares of the bank's stock worth $452,000 after buying an additional 4,590 shares during the period. Deutsche Bank AG boosted its holdings in Fulton Financial by 50.1% in the 4th quarter. Deutsche Bank AG now owns 154,894 shares of the bank's stock valued at $2,986,000 after purchasing an additional 51,670 shares during the period. Janus Henderson Group PLC boosted its holdings in Fulton Financial by 1.9% in the 4th quarter. Janus Henderson Group PLC now owns 2,517,149 shares of the bank's stock valued at $48,530,000 after purchasing an additional 47,338 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Fulton Financial by 5.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,369 shares of the bank's stock valued at $1,993,000 after purchasing an additional 5,120 shares during the period. 72.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Fulton Financial Trading Down 1.0%

Shares of FULT stock opened at $19.24 on Wednesday. Fulton Financial Corporation has a 52-week low of $14.32 and a 52-week high of $22.49. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 11.25 and a beta of 0.85. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a fifty day moving average of $18.91 and a 200-day moving average of $17.95.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.12. Fulton Financial had a net margin of 17.00% and a return on equity of 12.64%. The company had revenue of $328.45 million during the quarter, compared to analysts' expectations of $320.47 million. During the same quarter in the prior year, the company posted $0.52 EPS. On average, equities research analysts forecast that Fulton Financial Corporation will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.18 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.7%. Fulton Financial's dividend payout ratio is currently 42.11%.

Insider Activity

In other news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $18.41, for a total value of $92,050.00. Following the completion of the transaction, the director owned 599,102 shares in the company, valued at approximately $11,029,467.82. This represents a 0.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.07% of the company's stock.

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.

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