Inceptionr LLC Takes Position in Fulton Financial Corporation $FULT

Inceptionr LLC acquired a new position in shares of Fulton Financial Corporation (NASDAQ:FULT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 27,766 shares of the bank’s stock, valued at approximately $496,000.

A number of other large investors have also recently made changes to their positions in FULT. Atlantic Union Bankshares Corp acquired a new position in Fulton Financial during the 2nd quarter worth approximately $871,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Fulton Financial in the 1st quarter valued at $425,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Fulton Financial during the 2nd quarter worth $186,000. Public Sector Pension Investment Board grew its stake in shares of Fulton Financial by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 577,492 shares of the bank’s stock worth $10,447,000 after purchasing an additional 124,019 shares in the last quarter. Finally, Martingale Asset Management L P increased its holdings in Fulton Financial by 168.4% in the first quarter. Martingale Asset Management L P now owns 31,936 shares of the bank’s stock valued at $578,000 after buying an additional 20,036 shares during the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Trading Down 0.4%

Shares of Fulton Financial stock opened at $18.18 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $3.28 billion, a P/E ratio of 9.52 and a beta of 0.88. Fulton Financial Corporation has a 1 year low of $14.32 and a 1 year high of $21.85. The company’s fifty day moving average is $17.93 and its two-hundred day moving average is $18.25.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, November 8th. The bank reported $0.45 earnings per share for the quarter. The business had revenue of $236.96 million during the quarter. Fulton Financial had a net margin of 19.01% and a return on equity of 12.55%. Analysts forecast that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.0%. Fulton Financial’s payout ratio is presently 37.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FULT shares. Keefe, Bruyette & Woods increased their price target on shares of Fulton Financial from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Wednesday. Weiss Ratings cut shares of Fulton Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Raymond James Financial upgraded shares of Fulton Financial from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Tuesday, October 7th. Finally, Zacks Research cut shares of Fulton Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.90.

Insider Activity

In other news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $19.28, for a total transaction of $96,400.00. Following the completion of the sale, the director owned 90,477 shares in the company, valued at $1,744,396.56. This represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.08% of the company’s stock.

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.