Archford Capital Strategies LLC Boosts Holdings in Fulton Financial Corporation (FULT)
Archford Capital Strategies LLC grew its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT) by 74,153.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,791 shares of the bank’s stock after acquiring an additional 20,763 shares during the quarter. Archford Capital Strategies LLC’s holdings in Fulton Financial Corporation were worth $898,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Fulton Financial Corporation by 7.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,721 shares of the bank’s stock worth $147,000 after acquiring an additional 519 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Fulton Financial Corporation by 5.3% during the second quarter. Advisor Group Inc. now owns 8,336 shares of the bank’s stock worth $158,000 after acquiring an additional 417 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Fulton Financial Corporation by 56.0% during the second quarter. Riverhead Capital Management LLC now owns 9,985 shares of the bank’s stock worth $190,000 after acquiring an additional 3,585 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Fulton Financial Corporation during the first quarter worth approximately $184,000. Finally, Sei Investments Co. raised its stake in shares of Fulton Financial Corporation by 3.8% during the second quarter. Sei Investments Co. now owns 10,378 shares of the bank’s stock worth $198,000 after acquiring an additional 377 shares in the last quarter. 62.98% of the stock is currently owned by hedge funds and other institutional investors.
In other Fulton Financial Corporation news, Director R Scott Smith, Jr. sold 5,539 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $18.35, for a total value of $101,640.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig A. Roda sold 19,309 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $18.42, for a total value of $355,671.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,348 shares of company stock worth $484,312. Insiders own 0.68% of the company’s stock.
Shares of Fulton Financial Corporation (NASDAQ FULT) traded up 1.32% on Monday, hitting $19.20. 176,778 shares of the company traded hands. The firm’s 50 day moving average price is $18.08 and its 200-day moving average price is $18.14. Fulton Financial Corporation has a 1-year low of $14.05 and a 1-year high of $19.90. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 19.39 and a beta of 1.17.
Fulton Financial Corporation (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, July 18th. The bank reported $0.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. Fulton Financial Corporation had a return on equity of 8.02% and a net margin of 20.86%. The company had revenue of $193.93 million for the quarter, compared to analyst estimates of $194.02 million. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, equities research analysts expect that Fulton Financial Corporation will post $1.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Monday, October 2nd were paid a $0.11 dividend. The ex-dividend date was Friday, September 29th. This represents a $0.44 dividend on an annualized basis and a yield of 2.32%. Fulton Financial Corporation’s payout ratio is 44.44%.
Several research analysts have commented on the stock. Boenning Scattergood reissued a “hold” rating on shares of Fulton Financial Corporation in a research note on Wednesday, July 19th. ValuEngine raised shares of Fulton Financial Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. 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 research note on Tuesday, July 25th. Stephens assumed coverage on shares of Fulton Financial Corporation in a research note on Thursday, July 13th. They set an “equal weight” rating on the stock. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $18.00 price target on shares of Fulton Financial Corporation in a research note on Friday, June 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $18.25.
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About Fulton Financial Corporation
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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