PNC Financial Services Group Inc. grew its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 110,093 shares of the bank’s stock after acquiring an additional 5,619 shares during the quarter. PNC Financial Services Group Inc. owned 0.06% of Fulton Financial Corporation worth $2,091,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Fulton Financial Corporation by 64.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,202 shares of the bank’s stock valued at $129,000 after acquiring an additional 2,824 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in Fulton Financial Corporation by 56.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 9,985 shares of the bank’s stock valued at $190,000 after acquiring an additional 3,585 shares during the period. River Wealth Advisors LLC bought a new position in Fulton Financial Corporation during the 1st quarter worth approximately $182,000. Jane Street Group LLC bought a new position in Fulton Financial Corporation during the 1st quarter worth approximately $184,000. Finally, Sei Investments Co. grew its position in Fulton Financial Corporation by 3.8% during the 2nd quarter. Sei Investments Co. now owns 10,378 shares of the bank’s stock worth $198,000 after acquiring an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 62.99% of the company’s stock.

A number of brokerages have commented on FULT. 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 objective for the company in a research report on Tuesday, July 25th. Stephens assumed coverage on Fulton Financial Corporation in a research note on Thursday, July 13th. They set an “equal weight” rating for the company. Jefferies Group LLC reissued a “hold” rating and set a $20.00 price objective on shares of Fulton Financial Corporation in a research note on Friday, September 15th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Fulton Financial Corporation in a research note on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.33.

Fulton Financial Corporation (FULT) opened at 19.00 on Tuesday. Fulton Financial Corporation has a one year low of $14.04 and a one year high of $19.90. The stock has a market cap of $3.32 billion, a P/E ratio of 19.19 and a beta of 1.17. The company’s 50-day moving average price is $17.63 and its 200-day moving average price is $18.06.

Fulton Financial Corporation (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, July 18th. The bank reported $0.26 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.26. Fulton Financial Corporation had a net margin of 20.86% and a return on equity of 8.02%. The business had revenue of $193.93 million for the quarter, compared to analysts’ expectations of $194.02 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. Analysts forecast that Fulton Financial Corporation will post $1.06 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.44 annualized dividend and a dividend yield of 2.32%. Fulton Financial Corporation’s dividend payout ratio (DPR) is presently 44.44%.

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In related news, Director R Scott Smith, Jr. sold 5,539 shares of the company’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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Craig A. Roda sold 19,309 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $18.42, for a total transaction of $355,671.78. 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 90 days. Company 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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Institutional Ownership by Quarter for Fulton Financial Corporation (NASDAQ:FULT)

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