Mutual of America Capital Management LLC Has $496,000 Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Mutual of America Capital Management LLC lowered its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 8.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,359 shares of the bank’s stock after selling 2,516 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Fulton Financial were worth $496,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Family Firm Inc. bought a new position in shares of Fulton Financial in the 2nd quarter valued at about $46,000. Coston McIsaac & Partners acquired a new stake in shares of Fulton Financial in the 3rd quarter valued at approximately $54,000. Blue Trust Inc. grew its stake 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 valued at $61,000 after buying an additional 691 shares in the last quarter. AE Wealth Management LLC acquired a new position in Fulton Financial during the second quarter worth $172,000. Finally, Atwater Malick LLC bought a new stake in shares of Fulton Financial in the 2nd quarter valued at about $175,000. 72.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Fulton Financial Stock Performance

FULT opened at $21.66 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $3.94 billion, a PE ratio of 13.71 and a beta of 0.73. The business has a fifty day simple moving average of $18.88 and a 200 day simple moving average of $18.05. Fulton Financial Co. has a 1 year low of $13.84 and a 1 year high of $22.49.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The business had revenue of $487.33 million for the quarter, compared to the consensus estimate of $321.00 million. During the same period in the prior year, the company posted $0.43 earnings per share. Research analysts expect that Fulton Financial Co. will post 1.74 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Tuesday, October 1st. Fulton Financial’s dividend payout ratio (DPR) is currently 43.04%.

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.