Dean Investment Associates LLC Has $2.90 Million Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Dean Investment Associates LLC raised its position in Fulton Financial Co. (NASDAQ:FULT) by 452.7% in the 4th quarter, HoldingsChannel reports. The fund owned 150,169 shares of the bank’s stock after purchasing an additional 123,001 shares during the period. Dean Investment Associates LLC’s holdings in Fulton Financial were worth $2,895,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of FULT. Jones Financial Companies Lllp increased its position in shares of Fulton Financial by 193.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank’s stock valued at $25,000 after purchasing an additional 853 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Fulton Financial by 57.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank’s stock valued at $42,000 after buying an additional 800 shares during the period. McClarren Financial Advisors Inc. acquired a new position in shares of Fulton Financial in the 4th quarter valued at $44,000. Covestor Ltd lifted its holdings in shares of Fulton Financial by 196.9% during the 4th quarter. Covestor Ltd now owns 3,976 shares of the bank’s stock worth $76,000 after acquiring an additional 2,637 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Fulton Financial by 10.3% during the 4th quarter. Blue Trust Inc. now owns 5,455 shares of the bank’s stock valued at $99,000 after acquiring an additional 509 shares in the last quarter. Institutional investors own 72.02% of the company’s stock.

Wall Street Analysts Forecast Growth

FULT has been the subject of several recent research reports. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. DA Davidson reissued a “neutral” rating and issued a $20.00 target price on shares of Fulton Financial in a report on Wednesday. Keefe, Bruyette & Woods decreased their price target on Fulton Financial from $24.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday. Hovde Group upped their price target on Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research report on Monday, January 27th. Finally, Piper Sandler cut their price objective on Fulton Financial from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.79.

Insiders Place Their Bets

In related news, President Angela M. Snyder sold 13,322 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares of the company’s stock, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.07% of the company’s stock.

Fulton Financial Trading Down 0.6 %

FULT stock opened at $15.88 on Friday. The business has a fifty day moving average price of $18.08 and a 200 day moving average price of $19.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. Fulton Financial Co. has a fifty-two week low of $14.33 and a fifty-two week high of $22.49. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 10.11 and a beta of 0.68.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. The company had revenue of $322.64 million during the quarter, compared to analyst estimates of $315.07 million. During the same period last year, the company posted $0.40 earnings per share. Analysts expect that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date was Tuesday, April 1st. Fulton Financial’s dividend payout ratio is presently 42.35%.

Fulton Financial Company 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.