Palladium Partners LLC Holds Position in Fulton Financial Corporation (FULT)
Palladium Partners LLC held its stake in shares of Fulton Financial Corporation (NASDAQ:FULT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,107 shares of the bank’s stock at the end of the second quarter. Palladium Partners LLC’s holdings in Fulton Financial Corporation were worth $382,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in FULT. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Fulton Financial Corporation by 64.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,202 shares of the bank’s stock worth $129,000 after buying an additional 2,824 shares in the last quarter. River Wealth Advisors LLC acquired a new stake in shares of Fulton Financial Corporation during the first quarter worth $182,000. Capital Fund Management S.A. acquired a new stake in shares of Fulton Financial Corporation during the first quarter worth $184,000. Jane Street Group LLC acquired a new stake in shares of Fulton Financial Corporation during the first quarter worth $184,000. Finally, Invictus RG acquired a new stake in shares of Fulton Financial Corporation during the first quarter worth $186,000. 62.08% of the stock is currently owned by institutional investors.
Shares of Fulton Financial Corporation (FULT) opened at 17.95 on Tuesday. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 18.13 and a beta of 1.16. Fulton Financial Corporation has a 52 week low of $13.46 and a 52 week high of $19.90. The stock’s 50 day moving average price is $18.73 and its 200 day moving average price is $18.37.
Fulton Financial Corporation (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, July 18th. The bank reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $193.93 million during the quarter, compared to analysts’ expectations of $194.02 million. Fulton Financial Corporation had a net margin of 20.86% and a return on equity of 8.02%. During the same period last year, the firm posted $0.23 earnings per share. Equities research analysts anticipate that Fulton Financial Corporation will post $1.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 3rd were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Thursday, June 29th. Fulton Financial Corporation’s dividend payout ratio (DPR) is presently 44.44%.
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FULT has been the topic of a number of analyst reports. ValuEngine raised Fulton Financial Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. Zacks Investment Research raised Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Tuesday, July 25th. Stephens initiated coverage on Fulton Financial Corporation in a report on Thursday, July 13th. They issued an “equal weight” rating on the stock. Boenning Scattergood reaffirmed a “hold” rating on shares of Fulton Financial Corporation in a report on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Fulton Financial Corporation in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Fulton Financial Corporation currently has a consensus rating of “Hold” and a consensus price target of $18.33.
In other news, insider Craig A. Roda sold 19,309 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $18.42, for a total value of $355,671.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Deporter sold 1,500 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $18.00, for a total transaction of $27,000.00. The disclosure for this sale can be found here. Insiders sold 26,348 shares of company stock valued at $484,312 over the last quarter. Insiders own 0.68% of the company’s stock.
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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