Dynamic Technology Lab Private Ltd purchased a new position in shares of Fulton Financial Corporation (NASDAQ:FULT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 22,380 shares of the bank’s stock, valued at approximately $419,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its holdings in Fulton Financial by 0.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 772,900 shares of the bank’s stock valued at $14,492,000 after buying an additional 6,942 shares in the last quarter. RKL Wealth Management LLC raised its holdings in shares of Fulton Financial by 13.2% in the 3rd quarter. RKL Wealth Management LLC now owns 57,300 shares of the bank’s stock valued at $1,074,000 after purchasing an additional 6,661 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Fulton Financial by 7.0% in the 3rd quarter. Rhumbline Advisers now owns 400,299 shares of the bank’s stock valued at $7,506,000 after purchasing an additional 26,066 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Fulton Financial by 10.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 96,609 shares of the bank’s stock valued at $1,811,000 after purchasing an additional 8,997 shares in the last quarter. Finally, FDx Advisors Inc. bought a new stake in shares of Fulton Financial in the 3rd quarter valued at about $192,000. 62.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Fulton Financial Corporation (NASDAQ FULT) opened at $18.10 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.98 and a current ratio of 0.98. Fulton Financial Corporation has a 12-month low of $16.45 and a 12-month high of $19.90. The firm has a market cap of $3,204.73, a P/E ratio of 17.77 and a beta of 1.17.
Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, October 17th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Fulton Financial had a net margin of 21.15% and a return on equity of 8.28%. The firm had revenue of $194.19 million during the quarter, compared to analysts’ expectations of $200.00 million. During the same period in the previous year, the business posted $0.24 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. equities analysts expect that Fulton Financial Corporation will post 1.05 earnings per share for the current year.
The business also recently disclosed a special dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, November 30th. This is a boost from Fulton Financial’s previous special dividend of $0.02. This represents a yield of 2.42%. Fulton Financial’s dividend payout ratio is currently 42.72%.
FULT has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, September 20th. BidaskClub lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Saturday. Jefferies Group reiterated a “hold” rating and set a $20.00 price objective on shares of Fulton Financial in a research note on Friday, September 15th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $18.00 price objective on shares of Fulton Financial in a research note on Tuesday, September 26th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $18.00 price objective on shares of Fulton Financial in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $18.60.
Fulton Financial 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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