Thrivent Financial for Lutherans Buys 145,995 Shares of Fulton Financial Co. (NASDAQ:FULT)

Thrivent Financial for Lutherans grew its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 89.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 309,252 shares of the bank’s stock after acquiring an additional 145,995 shares during the period. Thrivent Financial for Lutherans owned about 0.17% of Fulton Financial worth $5,606,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Millennium Management LLC raised its position in shares of Fulton Financial by 511.1% in the second quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock valued at $55,287,000 after purchasing an additional 2,723,170 shares during the period. American Century Companies Inc. raised its holdings in Fulton Financial by 18.6% during the 2nd quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank’s stock valued at $51,323,000 after acquiring an additional 474,099 shares during the period. Bank of New York Mellon Corp lifted its position in shares of 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. Fulton Bank N.A. boosted its holdings in shares of Fulton Financial by 0.9% in the second quarter. Fulton Bank N.A. now owns 2,057,813 shares of the bank’s stock worth $34,942,000 after acquiring an additional 17,955 shares during the period. Finally, Emerald Advisers LLC grew its position in shares of Fulton Financial by 213.6% in the third quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank’s stock valued at $23,706,000 after purchasing an additional 890,630 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler set a $21.00 price objective on Fulton Financial in a report on Thursday, October 17th. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.83.

Fulton Financial Trading Up 1.7 %

Shares of FULT stock opened at $21.61 on Friday. The business has a 50-day moving average price of $18.74 and a two-hundred day moving average price of $17.98. Fulton Financial Co. has a 12-month low of $13.84 and a 12-month high of $21.72. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.93 billion, a P/E ratio of 13.68 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT) last issued its earnings results 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 analyst estimates of $321.00 million. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Equities analysts anticipate that Fulton Financial Co. will post 1.74 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

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