Inspire Investing LLC Makes New Investment in Fulton Financial Co. (NASDAQ:FULT)

Inspire Investing LLC purchased a new position in shares of Fulton Financial Co. (NASDAQ:FULT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,576 shares of the bank’s stock, valued at approximately $238,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Jennison Associates LLC grew its position in shares of Fulton Financial by 59.8% in the second quarter. Jennison Associates LLC now owns 119,195 shares of the bank’s stock valued at $1,881,000 after purchasing an additional 44,591 shares during the period. State Street Corp grew its position in shares of Fulton Financial by 6.4% in the second quarter. State Street Corp now owns 8,450,517 shares of the bank’s stock valued at $134,532,000 after purchasing an additional 508,644 shares during the period. SG Americas Securities LLC grew its position in shares of Fulton Financial by 53.0% in the second quarter. SG Americas Securities LLC now owns 70,043 shares of the bank’s stock valued at $1,105,000 after purchasing an additional 24,259 shares during the period. Geode Capital Management LLC grew its position in shares of Fulton Financial by 2.0% in the second quarter. Geode Capital Management LLC now owns 3,104,461 shares of the bank’s stock valued at $48,988,000 after purchasing an additional 59,898 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in shares of Fulton Financial by 17.5% in the second quarter. Parametric Portfolio Associates LLC now owns 460,146 shares of the bank’s stock valued at $7,261,000 after purchasing an additional 68,677 shares during the period. 62.47% of the stock is owned by institutional investors.

FULT stock opened at $18.88 on Friday. The stock has a 50-day moving average price of $16.91 and a two-hundred day moving average price of $16.13. Fulton Financial Co. has a 12-month low of $13.25 and a 12-month high of $18.92. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. The company has a market cap of $3.05 billion, a PE ratio of 12.10 and a beta of 0.83.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Monday, October 18th. The bank reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.12. The company had revenue of $233.85 million for the quarter, compared to analysts’ expectations of $219.08 million. Fulton Financial had a return on equity of 10.72% and a net margin of 26.58%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Equities analysts forecast that Fulton Financial Co. will post 1.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 14th. Shareholders of record on Friday, December 31st were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Thursday, December 30th. This is a boost from Fulton Financial’s previous quarterly dividend of $0.04. Fulton Financial’s payout ratio is currently 35.90%.

In related news, EVP Daniel R. Stolzer sold 6,000 shares of the business’s stock in a transaction dated Thursday, October 21st. The stock was sold at an average price of $16.94, for a total value of $101,640.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP David M. Campbell purchased 10,300 shares of the business’s stock in a transaction that occurred on Monday, November 22nd. The stock was acquired at an average price of $17.00 per share, for a total transaction of $175,100.00. The disclosure for this purchase can be found here. Insiders own 1.01% of the company’s stock.

Separately, Zacks Investment Research raised Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Wednesday, January 5th.

Fulton Financial Profile

Fulton Financial Corp. is financial holding company, which through its subsidiaries, engages in the provision of consumer and commercial banking products and services. It offers checking account and savings deposit products, certificates of deposit and individual retirement accounts. The company also offers investment management, trust, brokerage, insurance and investment advisory services to consumer and commercial banking customers in the market areas serviced by the subsidiary banks.

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Institutional Ownership by Quarter for Fulton Financial (NASDAQ:FULT)

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