Fulton Financial Co. (NASDAQ:FULT) Shares Bought by Azora Capital LP

Azora Capital LP increased its position in Fulton Financial Co. (NASDAQ:FULT) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 303,544 shares of the bank’s stock after acquiring an additional 23,458 shares during the period. Azora Capital LP owned approximately 0.17% of Fulton Financial worth $5,503,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FULT. Family Firm Inc. acquired a new stake in shares of Fulton Financial in the second quarter valued at approximately $46,000. Coston McIsaac & Partners bought a new position in Fulton Financial in the 3rd quarter worth approximately $54,000. Blue Trust Inc. increased its position in Fulton Financial by 21.9% in the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after acquiring an additional 691 shares during the period. AE Wealth Management LLC bought a new stake in Fulton Financial during the 2nd quarter valued at $172,000. Finally, Atwater Malick LLC bought a new stake in Fulton Financial during the 2nd quarter valued at $175,000. 72.02% of the stock is currently owned by institutional investors.

Fulton Financial Price Performance

Shares of Fulton Financial stock opened at $21.58 on Monday. Fulton Financial Co. has a 52 week low of $13.87 and a 52 week high of $22.49. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.93 billion, a PE ratio of 13.66 and a beta of 0.73. The company’s 50-day moving average price is $19.06 and its two-hundred day moving average price is $18.13.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $487.33 million for 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 11.33%. During the same period in the previous year, the firm earned $0.43 EPS. As a group, sell-side analysts anticipate that Fulton Financial Co. will post 1.74 EPS for the current fiscal 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. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.15%. Fulton Financial’s dividend payout ratio is currently 43.04%.

Analysts Set New Price Targets

Several research firms have recently issued reports on FULT. StockNews.com cut Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Fulton Financial currently has an average rating of “Hold” and a consensus price target of $18.83.

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.