SouthState Corp Sells 2,000 Shares of Fulton Financial Co. (NASDAQ:FULT)

SouthState Corp lessened its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 50.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the bank’s stock after selling 2,000 shares during the quarter. SouthState Corp’s holdings in Fulton Financial were worth $33,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FULT. AE Wealth Management LLC bought a new position in shares of Fulton Financial during the 3rd quarter worth about $156,000. Miracle Mile Advisors LLC boosted its position in shares of Fulton Financial by 3.3% during the 3rd quarter. Miracle Mile Advisors LLC now owns 32,494 shares of the bank’s stock worth $394,000 after purchasing an additional 1,048 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Fulton Financial by 20.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,563 shares of the bank’s stock valued at $382,000 after purchasing an additional 5,428 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its position in shares of Fulton Financial by 81.0% during the third quarter. Blue Bell Private Wealth Management LLC now owns 4,881 shares of the bank’s stock valued at $59,000 after buying an additional 2,184 shares during the last quarter. Finally, AlphaMark Advisors LLC bought a new stake in Fulton Financial during the third quarter worth $227,000. Institutional investors own 72.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on FULT. Jefferies Financial Group dropped their price target on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. StockNews.com downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Keefe, Bruyette & Woods upped their target price on Fulton Financial from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Tuesday, April 30th. Janney Montgomery Scott upgraded Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price target on the stock in a report on Monday, April 29th. Finally, Stephens reduced their price objective on Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating for the company in a research note on Thursday, April 18th. 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 stock. According to MarketBeat, Fulton Financial presently has an average rating of “Hold” and a consensus price target of $17.60.

Fulton Financial Trading Up 0.4 %

Shares of Fulton Financial stock opened at $17.03 on Friday. The stock has a market capitalization of $2.76 billion, a P/E ratio of 10.58 and a beta of 0.77. Fulton Financial Co. has a 52-week low of $9.64 and a 52-week high of $17.34. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s 50-day simple moving average is $15.45 and its 200 day simple moving average is $15.19.

Fulton Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend was Thursday, March 28th. Fulton Financial’s payout ratio is currently 42.24%.

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.