Hancock Holding Co. reduced its stake in shares of Fulton Financial Corp (NASDAQ:FULT) by 38.0% during the first quarter, Holdings Channel reports. The fund owned 183,056 shares of the bank’s stock after selling 112,190 shares during the period. Hancock Holding Co. owned about 0.10% of Fulton Financial Corp worth $3,267,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in FULT. RKL Wealth Management LLC raised its position in Fulton Financial Corp by 8.1% in the first quarter. RKL Wealth Management LLC now owns 51,294 shares of the bank’s stock valued at $915,000 after buying an additional 3,827 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in Fulton Financial Corp by 0.5% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 30,003 shares of the bank’s stock valued at $536,000 after buying an additional 142 shares during the last quarter. Mutual of America Capital Management LLC raised its position in Fulton Financial Corp by 1.8% in the first quarter. Mutual of America Capital Management LLC now owns 135,126 shares of the bank’s stock valued at $2,412,000 after buying an additional 2,447 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Fulton Financial Corp by 3.9% in the first quarter. Parametric Portfolio Associates LLC now owns 724,499 shares of the bank’s stock valued at $12,932,000 after buying an additional 27,460 shares during the last quarter. Finally, Eagle Boston Investment Management Inc. raised its position in Fulton Financial Corp by 4.4% in the first quarter. Eagle Boston Investment Management Inc. now owns 73,471 shares of the bank’s stock valued at $1,311,000 after buying an additional 3,070 shares during the last quarter. Hedge funds and other institutional investors own 58.70% of the company’s stock.
Fulton Financial Corp (NASDAQ:FULT) traded up 0.58% during midday trading on Friday, reaching $17.45. The company’s stock had a trading volume of 1,013,571 shares. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 18.18 and a beta of 1.10. The stock’s 50-day moving average price is $18.01 and its 200-day moving average price is $18.17. Fulton Financial Corp has a 12 month low of $12.66 and a 12 month high of $19.75.
Fulton Financial Corp (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, April 18th. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Fulton Financial Corp had a return on equity of 7.67% and a net margin of 20.37%. The business had revenue of $183.15 million during the quarter, compared to analyst estimates of $184.36 million. During the same period last year, the company earned $0.22 earnings per share. Fulton Financial Corp’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts predict that Fulton Financial Corp will post $1.07 EPS for the current year.
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Several research firms recently commented on FULT. Jefferies Group LLC reiterated a “hold” rating and issued a $20.00 target price on shares of Fulton Financial Corp in a research note on Monday. Barclays PLC reissued a “sell” rating and set a $18.00 price target (up previously from $17.00) on shares of Fulton Financial Corp in a research report on Friday, April 21st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $18.00 price target on shares of Fulton Financial Corp in a research report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Fulton Financial Corp currently has a consensus rating of “Hold” and a consensus target price of $18.50.
In related news, EVP Meg R. Mueller sold 3,266 shares of the stock in a transaction on Monday, April 24th. The stock was sold at an average price of $18.90, for a total transaction of $61,727.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.75% of the stock is currently owned by company insiders.
Fulton Financial Corp Company Profile
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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