Prudential Financial Inc. increased its stake in Fulton Financial Corp. (NASDAQ:FULT) by 17.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 810,663 shares of the company’s stock after buying an additional 121,600 shares during the period. Prudential Financial Inc. owned about 0.47% of Fulton Financial Corp. worth $10,944,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FULT. Goldman Sachs Group Inc. raised its position in shares of Fulton Financial Corp. by 13.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,058,916 shares of the company’s stock valued at $14,168,000 after buying an additional 126,321 shares during the period. Riverhead Capital Management LLC increased its stake in Fulton Financial Corp. by 4.3% in the first quarter. Riverhead Capital Management LLC now owns 45,045 shares of the company’s stock valued at $603,000 after buying an additional 1,845 shares in the last quarter. Gardner Russo & Gardner LLC increased its stake in Fulton Financial Corp. by 10.8% in the first quarter. Gardner Russo & Gardner LLC now owns 34,930 shares of the company’s stock valued at $467,000 after buying an additional 3,400 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Fulton Financial Corp. during the first quarter valued at $331,000. Finally, Palisade Capital Management LLC NJ increased its stake in Fulton Financial Corp. by 12.9% in the first quarter. Palisade Capital Management LLC NJ now owns 1,351,043 shares of the company’s stock valued at $18,077,000 after buying an additional 154,576 shares in the last quarter. Institutional investors own 59.12% of the company’s stock.
Shares of Fulton Financial Corp. (NASDAQ:FULT) traded up 1.53% during trading on Wednesday, hitting $14.57. 89,101 shares of the stock traded hands. The stock has a market cap of $2.52 billion, a PE ratio of 16.79 and a beta of 1.19. Fulton Financial Corp. has a 12 month low of $11.48 and a 12 month high of $14.86. The firm’s 50-day moving average price is $14.33 and its 200-day moving average price is $13.84.
Fulton Financial Corp. (NASDAQ:FULT) last posted its earnings results on Tuesday, July 19th. The company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Fulton Financial Corp. had a net margin of 19.52% and a return on equity of 7.31%. Analysts anticipate that Fulton Financial Corp. will post $0.91 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.40 annualized dividend and a yield of 2.79%. Fulton Financial Corp.’s payout ratio is 45.98%.
FULT has been the subject of several recent research reports. Hovde Group initiated coverage on shares of Fulton Financial Corp. in a research note on Monday, September 12th. They issued an “outperform” rating and a $16.00 price target for the company. Zacks Investment Research raised shares of Fulton Financial Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Tuesday, September 20th. Finally, FBR & Co reissued a “hold” rating on shares of Fulton Financial Corp. in a research note on Wednesday, July 20th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $13.89.
In related news, EVP Curtis J. Myers sold 15,580 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $14.34, for a total transaction of $223,417.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Philmer H. Rohrbaugh bought 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were bought at an average cost of $13.96 per share, with a total value of $195,440.00. The disclosure for this purchase can be found here. Corporate 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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