Fulton Financial Corporation (NASDAQ:FULT) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. increased its stake in Fulton Financial Corporation (NASDAQ:FULT) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,775,213 shares of the bank’s stock after buying an additional 499,352 shares during the period. Vanguard Group Inc. owned approximately 8.47% of Fulton Financial Corporation worth $263,738,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of FULT. Norges Bank bought a new position in Fulton Financial Corporation during the fourth quarter worth approximately $33,985,000. Principal Financial Group Inc. raised its position in Fulton Financial Corporation by 159.8% in the first quarter. Principal Financial Group Inc. now owns 1,816,332 shares of the bank’s stock worth $32,422,000 after buying an additional 1,117,263 shares during the last quarter. Bank of New York Mellon Corp raised its position in Fulton Financial Corporation by 4.3% in the first quarter. Bank of New York Mellon Corp now owns 3,766,029 shares of the bank’s stock worth $67,222,000 after buying an additional 156,969 shares during the last quarter. Alliancebernstein L.P. raised its position in Fulton Financial Corporation by 2.8% in the first quarter. Alliancebernstein L.P. now owns 4,979,421 shares of the bank’s stock worth $88,883,000 after buying an additional 135,632 shares during the last quarter. Finally, Foundry Partners LLC raised its stake in Fulton Financial Corporation by 14.5% in the first quarter. Foundry Partners LLC now owns 1,070,009 shares of the bank’s stock valued at $19,100,000 after buying an additional 135,314 shares in the last quarter. 62.05% of the stock is owned by institutional investors.
Fulton Financial Corporation (NASDAQ FULT) traded up 0.56% during mid-day trading on Friday, reaching $18.10. The company’s stock had a trading volume of 780,911 shares. The stock has a market cap of $3.16 billion, a P/E ratio of 18.28 and a beta of 1.16. Fulton Financial Corporation has a one year low of $13.46 and a one year high of $19.90. The firm’s 50 day moving average is $18.73 and its 200-day moving average is $18.37.
Fulton Financial Corporation (NASDAQ:FULT) last released its earnings results on Tuesday, July 18th. The bank reported $0.26 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. Fulton Financial Corporation had a net margin of 20.86% and a return on equity of 8.02%. The company had revenue of $193.93 million during the quarter, compared to analysts’ expectations of $194.02 million. During the same quarter last year, the business earned $0.23 EPS. Equities analysts expect that Fulton Financial Corporation will post $1.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 3rd were issued a $0.11 dividend. The ex-dividend date was Thursday, June 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.43%. Fulton Financial Corporation’s dividend payout ratio is presently 44.44%.
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FULT has been the subject of several research analyst reports. ValuEngine raised Fulton Financial Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Zacks Investment Research upgraded Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Tuesday, July 25th. Stephens started coverage on Fulton Financial Corporation in a research report on Thursday, July 13th. They set an “equal weight” rating on the stock. Boenning Scattergood restated a “hold” rating on shares of Fulton Financial Corporation in a research report on Wednesday, July 19th. Finally, Jefferies Group LLC restated a “hold” rating and set a $20.00 price target on shares of Fulton Financial Corporation in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Fulton Financial Corporation has a consensus rating of “Hold” and an average price target of $18.33.
In other Fulton Financial Corporation news, Director R Scott Smith, Jr. sold 5,539 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $18.35, for a total transaction of $101,640.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Deporter sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $18.00, for a total transaction of $27,000.00. The disclosure for this sale can be found here. Insiders sold a total of 26,348 shares of company stock valued at $484,312 in the last quarter. Insiders own 0.68% of the company’s stock.
Fulton Financial Corporation Company Profile
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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