Emerald Acquisition Ltd. acquired a new stake in shares of Fulton Financial Corp. (NASDAQ:FULT) during the second quarter, Holdings Channel reports. The firm acquired 200,994 shares of the company’s stock, valued at approximately $2,713,000. Emerald Acquisition Ltd. owned about 0.12% of Fulton Financial Corp. at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. raised its position in shares of Fulton Financial Corp. by 34.0% in the first quarter. Envestnet Asset Management Inc. now owns 10,307 shares of the company’s stock valued at $138,000 after buying an additional 2,615 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Fulton Financial Corp. by 76.7% in the second quarter. LS Investment Advisors LLC now owns 10,458 shares of the company’s stock valued at $141,000 after buying an additional 4,538 shares during the last quarter. Wagner Bowman Management Corp raised its position in shares of Fulton Financial Corp. by 0.6% in the second quarter. Wagner Bowman Management Corp now owns 11,878 shares of the company’s stock valued at $160,000 after buying an additional 74 shares during the last quarter. Bbva Compass Bancshares Inc. acquired a new position in shares of Fulton Financial Corp. during the second quarter valued at $162,000. Finally, Bank of Montreal Can acquired a new position in shares of Fulton Financial Corp. during the second quarter valued at $172,000. 59.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fulton Financial Corp. (NASDAQ:FULT) traded down 2.45% during midday trading on Monday, hitting $14.34. 685,478 shares of the stock traded hands. The company has a market capitalization of $2.48 billion, a PE ratio of 16.52 and a beta of 1.28. The firm’s 50 day moving average price is $14.23 and its 200 day moving average price is $13.78. Fulton Financial Corp. has a 12-month low of $11.48 and a 12-month high of $14.86.
Fulton Financial Corp. (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Fulton Financial Corp. had a return on equity of 7.31% and a net margin of 19.52%. Analysts expect that Fulton Financial Corp. will post $0.91 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Wednesday, September 28th. Fulton Financial Corp.’s dividend payout ratio (DPR) is currently 45.98%.
Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Fulton Financial Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. FBR & Co reissued a “hold” rating on shares of Fulton Financial Corp. in a research report on Wednesday, July 20th. Finally, Hovde Group assumed coverage on shares of Fulton Financial Corp. in a research report on Monday, September 12th. They issued an “outperform” rating and a $16.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.89.
In other Fulton Financial Corp. news, EVP Curtis J. Myers sold 15,580 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $14.34, for a total transaction of $223,417.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Moxley III purchased 9,896 shares of Fulton Financial Corp. stock in a transaction on Wednesday, July 27th. The shares were purchased at an average cost of $13.71 per share, with a total value of $135,674.16. The disclosure for this purchase can be found here. Company insiders own 0.75% of the company’s stock.
About Fulton Financial Corp.
Fulton Financial Corporation is a multi-bank financial holding company. The Company provides a range of banking and financial services to businesses and consumers through its banking subsidiaries: Fulton Bank, N.A., Fulton Bank of New Jersey, The Columbia Bank, Lafayette Ambassador Bank, FNB Bank, N.A.
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