Mutual of America Capital Management LLC Decreases Stake in Fulton Financial Co. (NASDAQ:FULT)

Mutual of America Capital Management LLC lowered its position in Fulton Financial Co. (NASDAQ:FULTGet Rating) by 8.6% during the second quarter, HoldingsChannel reports. The firm owned 134,495 shares of the bank’s stock after selling 12,614 shares during the period. Mutual of America Capital Management LLC’s holdings in Fulton Financial were worth $1,943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mackenzie Financial Corp purchased a new position in Fulton Financial in the 2nd quarter valued at $155,000. Principal Financial Group Inc. increased its stake in shares of Fulton Financial by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 624,824 shares of the bank’s stock worth $9,029,000 after acquiring an additional 79,350 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Fulton Financial in the 2nd quarter worth $475,000. Swiss National Bank increased its stake in shares of Fulton Financial by 1.9% in the 2nd quarter. Swiss National Bank now owns 388,700 shares of the bank’s stock worth $5,617,000 after acquiring an additional 7,300 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Fulton Financial by 494.5% in the 2nd quarter. Lazard Asset Management LLC now owns 13,079 shares of the bank’s stock worth $188,000 after acquiring an additional 10,879 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FULT shares. Piper Sandler raised their target price on Fulton Financial to $20.00 in a research note on Wednesday, October 5th. StockNews.com started coverage on Fulton Financial in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, DA Davidson reaffirmed a “neutral” rating on shares of Fulton Financial in a research note on Wednesday, July 27th.

Fulton Financial Stock Down 0.6 %

Shares of NASDAQ:FULT opened at $18.45 on Thursday. The business has a 50-day moving average price of $17.33 and a 200 day moving average price of $16.24. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 11.75 and a beta of 0.80. Fulton Financial Co. has a 12-month low of $13.72 and a 12-month high of $19.17.

Fulton Financial Cuts Dividend

The firm also recently disclosed a None dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, November 30th. Fulton Financial’s payout ratio is 38.22%.

Insider Buying and Selling

In other Fulton Financial news, EVP Angela M. Snyder sold 4,818 shares of Fulton Financial stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $18.23, for a total value of $87,832.14. Following the completion of the transaction, the executive vice president now directly owns 33,246 shares of the company’s stock, valued at approximately $606,074.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Fulton Financial Company Profile

(Get Rating)

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers secured consumer loans, including home equity loans and lines of credit, automobile loans, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial real estate, commercial and industrial, and construction loans, as well as equipment lease financing loans.

Further Reading

Want to see what other hedge funds are holding FULT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fulton Financial Co. (NASDAQ:FULTGet Rating).

Institutional Ownership by Quarter for Fulton Financial (NASDAQ:FULT)

Receive News & Ratings for Fulton Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fulton Financial and related companies with MarketBeat.com's FREE daily email newsletter.