Logan Capital Management Inc. Continues to Hold Holdings in Fulton Financial Corporation (FULT)
Logan Capital Management Inc. continued to hold its stake in Fulton Financial Corporation (NASDAQ:FULT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 220,500 shares of the bank’s stock at the close of the 2nd quarter. Logan Capital Management Inc. owned about 0.13% of Fulton Financial Corporation worth $4,189,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Fulton Financial Corporation by 17,543.0% during the first quarter. BlackRock Inc. now owns 18,627,957 shares of the bank’s stock valued at $332,509,000 after purchasing an additional 18,522,374 shares during the period. Principal Financial Group Inc. raised its stake in shares of 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 valued at $32,422,000 after purchasing an additional 1,117,263 shares in the last quarter. State Street Corp raised its stake in shares of Fulton Financial Corporation by 10.2% in the first quarter. State Street Corp now owns 8,886,263 shares of the bank’s stock valued at $158,622,000 after purchasing an additional 821,236 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Fulton Financial Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 14,775,213 shares of the bank’s stock valued at $263,738,000 after purchasing an additional 499,352 shares in the last quarter. Finally, Citadel Advisors LLC raised its stake in shares of Fulton Financial Corporation by 3,057.0% in the first quarter. Citadel Advisors LLC now owns 414,801 shares of the bank’s stock valued at $7,404,000 after purchasing an additional 401,662 shares in the last quarter. 62.99% of the stock is currently owned by institutional investors.
Fulton Financial Corporation (NASDAQ:FULT) traded down 0.553% during trading on Tuesday, hitting $18.895. The company had a trading volume of 165,800 shares. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 19.086 and a beta of 1.17. The stock has a 50-day moving average of $17.63 and a 200 day moving average of $18.06. Fulton Financial Corporation has a one year low of $14.04 and a one year high of $19.90.
Fulton Financial Corporation (NASDAQ:FULT) last announced 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 for the quarter, compared to analysts’ expectations of $194.02 million. During the same period last year, the firm earned $0.23 earnings per share. Equities analysts forecast that Fulton Financial Corporation will post $1.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Friday, September 29th. Fulton Financial Corporation’s dividend payout ratio (DPR) is currently 44.44%.
In other Fulton Financial Corporation news, insider Craig A. Roda sold 19,309 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $18.42, for a total transaction of $355,671.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael J. Deporter sold 1,500 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $18.00, for a total value of $27,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,348 shares of company stock valued at $484,312. 0.68% of the stock is currently owned by corporate insiders.
FULT has been the subject of several research reports. ValuEngine raised Fulton Financial Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Boenning Scattergood reissued a “hold” rating on shares of Fulton Financial Corporation in a report on Wednesday, July 19th. Zacks Investment Research raised shares of Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Tuesday, July 25th. BidaskClub cut shares of Fulton Financial Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Stephens initiated coverage on shares of Fulton Financial Corporation in a research note on Thursday, July 13th. They issued an “equal weight” rating for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Fulton Financial Corporation currently has an average rating of “Hold” and a consensus price target of $18.33.
Fulton Financial Corporation 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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