Dynamic Technology Lab Private Ltd purchased a new position in shares of Fulton Financial Corporation (NASDAQ:FULT) during the 3rd quarter, according to the company in 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 institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Fulton Financial by 7.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,721 shares of the bank’s stock valued at $147,000 after purchasing an additional 519 shares during the period. Advisor Group Inc. boosted its stake in Fulton Financial by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 8,336 shares of the bank’s stock valued at $158,000 after purchasing an additional 417 shares during the period. Riverhead Capital Management LLC boosted its stake in Fulton Financial 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 purchasing an additional 3,585 shares during the period. FDx Advisors Inc. acquired a new position in Fulton Financial during the 3rd quarter valued at about $192,000. Finally, Sei Investments Co. boosted its stake in Fulton Financial by 3.8% during the 2nd quarter. Sei Investments Co. now owns 10,378 shares of the bank’s stock valued at $198,000 after purchasing an additional 377 shares during the period. 62.74% of the stock is owned by institutional investors.
Fulton Financial Corporation (NASDAQ FULT) traded up $0.50 during mid-day trading on Friday, hitting $18.15. 2,905,320 shares of the stock were exchanged, compared to its average volume of 869,767. Fulton Financial Corporation has a twelve month low of $16.45 and a twelve month high of $19.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $3,152.20, a price-to-earnings ratio of 17.48 and a beta of 1.17.
Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, October 17th. The bank reported $0.28 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $200.00 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. equities research analysts predict that Fulton Financial Corporation will post 1.05 EPS for the current fiscal year.
The business also recently disclosed a special dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, November 30th. This is an increase from Fulton Financial’s previous special dividend of $0.02. This represents a yield of 2.42%. Fulton Financial’s payout ratio is presently 42.72%.
A number of research firms have commented on FULT. Piper Jaffray Companies restated a “hold” rating and set a $18.00 price target on shares of Fulton Financial in a research report on Thursday, October 19th. Keefe, Bruyette & Woods restated a “hold” rating and set a $17.00 price target on shares of Fulton Financial in a research report on Thursday, October 19th. Jefferies Group reiterated a “hold” rating and issued a $20.00 target price on shares of Fulton Financial in a report on Friday, September 15th. BidaskClub downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 9th. Finally, Zacks Investment Research upgraded shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Wednesday, September 20th. 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 stock. The stock has an average rating of “Hold” and an average target price 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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