Vanguard Group Inc. Has $286.70 Million Position in Fulton Financial Corporation (FULT)
Vanguard Group Inc. lifted its stake in shares of Fulton Financial Corporation (NASDAQ:FULT) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,089,443 shares of the bank’s stock after purchasing an additional 314,230 shares during the quarter. Vanguard Group Inc. owned 8.64% of Fulton Financial Corporation worth $286,699,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in FULT. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Fulton Financial Corporation 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. Jane Street Group LLC bought a new stake in shares of Fulton Financial Corporation during the 1st quarter valued at $184,000. Invictus RG bought a new stake in shares of Fulton Financial Corporation during the 1st quarter valued at $186,000. Riverhead Capital Management LLC raised its stake in shares of Fulton Financial Corporation 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. Finally, Sei Investments Co. raised its stake in shares of Fulton Financial Corporation 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. Institutional investors own 62.99% of the company’s stock.
In other Fulton Financial Corporation news, insider Craig A. Roda sold 19,309 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $18.42, for a total transaction of $355,671.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director R Scott Smith, Jr. sold 5,539 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $18.35, for a total value of $101,640.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,348 shares of company stock worth $484,312. Insiders own 0.68% of the company’s stock.
Fulton Financial Corporation (FULT) opened at 19.25 on Wednesday. Fulton Financial Corporation has a 52 week low of $14.04 and a 52 week high of $19.90. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 19.44 and a beta of 1.17. The firm has a 50-day moving average price of $17.93 and a 200-day moving average price of $18.11.
Fulton Financial Corporation (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, July 18th. The bank reported $0.26 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.26. The business had revenue of $193.93 million for the quarter, compared to analysts’ expectations of $194.02 million. Fulton Financial Corporation had a return on equity of 8.02% and a net margin of 20.86%. During the same period last year, the firm earned $0.23 earnings per share. Analysts anticipate that Fulton Financial Corporation will post $1.06 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.44 dividend on an annualized basis and a yield of 2.29%. Fulton Financial Corporation’s dividend payout ratio is presently 44.44%.
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A number of analysts recently issued reports on the company. BidaskClub lowered Fulton Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $17.50 price objective on shares of Fulton Financial Corporation in a research note on Tuesday, October 3rd. Jefferies Group LLC reiterated a “hold” rating and set a $20.00 price objective on shares of Fulton Financial Corporation in a research note on Friday, September 15th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Fulton Financial Corporation in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Fulton Financial Corporation currently has a consensus rating of “Hold” and an average price target of $18.25.
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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