Bank of New York Mellon Corp Has $38.04 Million Holdings in Fulton Financial Corp (FULT)
Bank of New York Mellon Corp raised its stake in Fulton Financial Corp (NASDAQ:FULT) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,305,293 shares of the bank’s stock after purchasing an additional 27,083 shares during the period. Bank of New York Mellon Corp’s holdings in Fulton Financial were worth $38,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Zeke Capital Advisors LLC grew its stake in Fulton Financial by 32.2% in the first quarter. Zeke Capital Advisors LLC now owns 14,088 shares of the bank’s stock valued at $250,000 after purchasing an additional 3,431 shares during the last quarter. Engineers Gate Manager LP purchased a new position in Fulton Financial in the first quarter valued at about $297,000. A.R.T. Advisors LLC purchased a new position in Fulton Financial in the first quarter valued at about $331,000. Adviser Investments LLC purchased a new position in Fulton Financial in the second quarter valued at about $380,000. Finally, Xact Kapitalforvaltning AB grew its stake in Fulton Financial by 43.4% in the first quarter. Xact Kapitalforvaltning AB now owns 25,113 shares of the bank’s stock valued at $446,000 after purchasing an additional 7,600 shares during the last quarter. Institutional investors own 62.72% of the company’s stock.
Several research firms have issued reports on FULT. Zacks Investment Research upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. ValuEngine upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. BidaskClub upgraded Fulton Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 25th. Finally, Piper Jaffray Companies upgraded Fulton Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $18.50 to $19.00 in a research note on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $18.57.
Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, July 17th. The bank reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.07. Fulton Financial had a return on equity of 8.20% and a net margin of 19.05%. The business had revenue of $208.12 million for the quarter, compared to analyst estimates of $208.67 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. sell-side analysts predict that Fulton Financial Corp will post 1.15 EPS for the current year.
About Fulton Financial
Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.
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