Thrivent Financial for Lutherans Lowers Position in Fulton Financial Corporation $FULT

Thrivent Financial for Lutherans cut its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT) by 54.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 182,029 shares of the bank’s stock after selling 221,819 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Fulton Financial were worth $3,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of FULT. Balyasny Asset Management L.P. purchased a new position in shares of Fulton Financial during the 2nd quarter worth $22,069,000. Millennium Management LLC grew its holdings in shares of Fulton Financial by 2,825.4% during the 3rd quarter. Millennium Management LLC now owns 1,021,992 shares of the bank’s stock worth $19,040,000 after purchasing an additional 987,057 shares during the period. American Century Companies Inc. grew its holdings in shares of Fulton Financial by 25.3% during the 3rd quarter. American Century Companies Inc. now owns 3,583,100 shares of the bank’s stock worth $66,753,000 after purchasing an additional 723,948 shares during the period. Pier Capital LLC purchased a new position in shares of Fulton Financial during the 3rd quarter worth $8,895,000. Finally, Capitolis Liquid Global Markets LLC purchased a new position in shares of Fulton Financial during the 3rd quarter worth $6,323,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FULT shares. Wall Street Zen cut Fulton Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Raymond James Financial restated an “outperform” rating and set a $24.00 target price on shares of Fulton Financial in a report on Monday, April 27th. Weiss Ratings upgraded Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Finally, DA Davidson started coverage on Fulton Financial in a report on Wednesday, February 25th. They set a “neutral” rating and a $24.00 target price for the company. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Fulton Financial presently has an average rating of “Hold” and an average price target of $23.00.

Insider Buying and Selling at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the firm’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $21.42, for a total value of $107,100.00. Following the sale, the director directly owned 80,477 shares in the company, valued at approximately $1,723,817.34. This trade represents a 5.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.01% of the company’s stock.

Fulton Financial Trading Up 0.2%

Shares of NASDAQ:FULT opened at $21.44 on Friday. Fulton Financial Corporation has a 52 week low of $16.60 and a 52 week high of $22.99. The company’s 50 day moving average is $20.92 and its two-hundred day moving average is $20.23. The company has a market cap of $4.10 billion, a PE ratio of 10.21 and a beta of 0.81. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.06.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Fulton Financial had a net margin of 20.85% and a return on equity of 12.69%. The business had revenue of $331.86 million for the quarter, compared to analyst estimates of $359.36 million. During the same period last year, the business earned $0.52 EPS. Equities analysts predict that Fulton Financial Corporation will post 2.17 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, April 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 36.19%.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.