Natixis Advisors LLC Reduces Holdings in Fulton Financial Co. (NASDAQ:FULT)

Natixis Advisors LLC reduced its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 24.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,731 shares of the bank’s stock after selling 12,708 shares during the period. Natixis Advisors LLC’s holdings in Fulton Financial were worth $702,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Millennium Management LLC lifted its position in Fulton Financial by 511.1% during 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 in the last quarter. Emerald Advisers LLC lifted its position in shares of Fulton Financial by 213.6% during the 3rd quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank’s stock valued at $23,706,000 after buying an additional 890,630 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in shares of Fulton Financial by 272.2% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank’s stock valued at $15,622,000 after acquiring an additional 630,152 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Fulton Financial by 710.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank’s stock worth $11,880,000 after acquiring an additional 613,272 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Fulton Financial by 28.8% during the 2nd 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 during the period. 72.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Fulton Financial Trading Down 0.1 %

Shares of NASDAQ FULT opened at $21.66 on Thursday. Fulton Financial Co. has a 1-year low of $13.84 and a 1-year high of $22.49. 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 business’s 50 day moving average is $18.88 and its two-hundred day moving average is $18.05. The stock has a market capitalization of $3.94 billion, a P/E ratio of 13.79 and a beta of 0.73.

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

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 annualized dividend and a dividend yield of 3.14%. Fulton Financial’s 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.