Key Financial Inc Cuts Stock Position in Fulton Financial Co. (NASDAQ:FULT)

Key Financial Inc decreased its holdings in Fulton Financial Co. (NASDAQ:FULT) by 21.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,833 shares of the bank’s stock after selling 12,530 shares during the period. Key Financial Inc’s holdings in Fulton Financial were worth $813,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Family Firm Inc. bought a new position in Fulton Financial in the 2nd quarter worth approximately $46,000. Coston McIsaac & Partners bought a new position in shares of Fulton Financial during the third quarter worth $54,000. Blue Trust Inc. grew its stake in Fulton Financial by 21.9% during the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after acquiring an additional 691 shares in the last quarter. Headlands Technologies LLC bought a new stake in Fulton Financial in the 1st quarter valued at $66,000. Finally, AE Wealth Management LLC purchased a new stake in Fulton Financial in the 2nd quarter worth $172,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on FULT. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a research note on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $18.83.

Fulton Financial Trading Down 0.3 %

Shares of Fulton Financial stock traded down $0.05 during trading on Friday, hitting $18.06. The stock had a trading volume of 893,600 shares, compared to its average volume of 1,463,511. Fulton Financial Co. has a 12 month low of $13.19 and a 12 month high of $20.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s fifty day simple moving average is $18.10 and its 200-day simple moving average is $17.47. The stock has a market cap of $3.29 billion, a PE ratio of 11.43 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. The business had revenue of $487.33 million during 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 11.14%. During the same quarter last year, the firm earned $0.43 earnings per share. As a group, sell-side analysts expect that Fulton Financial Co. will post 1.75 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 43.04%.

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.