Sciencast Management LP bought a new stake in Fulton Financial Corp (NASDAQ:FULT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 34,534 shares of the bank’s stock, valued at approximately $602,000.
Other hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in shares of Fulton Financial by 42.3% during the 2nd quarter. Wells Fargo & Company MN now owns 249,797 shares of the bank’s stock worth $4,089,000 after buying an additional 74,251 shares during the last quarter. Bank of Montreal Can raised its holdings in Fulton Financial by 94.8% in the 2nd quarter. Bank of Montreal Can now owns 26,914 shares of the bank’s stock valued at $441,000 after acquiring an additional 13,098 shares during the period. Renaissance Technologies LLC raised its holdings in Fulton Financial by 224.9% in the 2nd quarter. Renaissance Technologies LLC now owns 313,245 shares of the bank’s stock valued at $5,128,000 after acquiring an additional 216,845 shares during the period. HighTower Advisors LLC raised its holdings in Fulton Financial by 17.5% in the 2nd quarter. HighTower Advisors LLC now owns 18,367 shares of the bank’s stock valued at $299,000 after acquiring an additional 2,736 shares during the period. Finally, NumerixS Investment Technologies Inc bought a new position in shares of Fulton Financial during the second quarter worth approximately $25,000. Institutional investors and hedge funds own 63.93% of the company’s stock.
FULT has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Thursday, January 9th. ValuEngine upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Monday, November 25th. Finally, BidaskClub lowered shares of Fulton Financial from a “sell” rating to a “strong sell” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Fulton Financial currently has a consensus rating of “Hold” and an average target price of $19.00.
In other Fulton Financial news, EVP David M. Campbell purchased 5,900 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $16.89 per share, for a total transaction of $99,651.00. Also, EVP Daniel R. Stolzer sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $17.59, for a total transaction of $105,540.00. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
FULT stock traded down $0.25 during midday trading on Friday, hitting $16.78. The stock had a trading volume of 496,655 shares, compared to its average volume of 747,403. Fulton Financial Corp has a 1-year low of $14.85 and a 1-year high of $18.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.38. The firm has a market cap of $2.80 billion, a P/E ratio of 12.34 and a beta of 0.99. The business has a fifty day moving average price of $17.27 and a two-hundred day moving average price of $16.76.
Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $217.76 million during the quarter, compared to the consensus estimate of $216.83 million. Fulton Financial had a net margin of 22.34% and a return on equity of 10.02%. During the same period last year, the firm posted $0.33 earnings per share. On average, equities analysts anticipate that Fulton Financial Corp will post 1.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Tuesday, December 31st. Fulton Financial’s payout ratio is presently 37.41%.
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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