Verition Fund Management LLC purchased a new stake in shares of Fulton Financial Corp (NASDAQ:FULT) in the second quarter, according to its most recent filing with the SEC. The firm purchased 22,022 shares of the bank’s stock, valued at approximately $232,000.
Several other hedge funds also recently bought and sold shares of the company. New York State Common Retirement Fund lifted its position in shares of Fulton Financial by 0.3% during the 1st quarter. New York State Common Retirement Fund now owns 390,386 shares of the bank’s stock valued at $4,486,000 after acquiring an additional 992 shares during the period. Profund Advisors LLC increased its stake in shares of Fulton Financial by 10.4% during the 2nd quarter. Profund Advisors LLC now owns 11,168 shares of the bank’s stock worth $118,000 after purchasing an additional 1,054 shares in the last quarter. Smith Graham & Co. Investment Advisors LP increased its stake in shares of Fulton Financial by 0.4% during the 2nd quarter. Smith Graham & Co. Investment Advisors LP now owns 330,297 shares of the bank’s stock worth $3,478,000 after purchasing an additional 1,355 shares in the last quarter. Aperio Group LLC increased its stake in shares of Fulton Financial by 5.1% during the 1st quarter. Aperio Group LLC now owns 38,398 shares of the bank’s stock worth $441,000 after purchasing an additional 1,852 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in shares of Fulton Financial by 1.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 154,807 shares of the bank’s stock worth $1,630,000 after purchasing an additional 1,976 shares in the last quarter. Institutional investors own 64.42% of the company’s stock.
FULT has been the subject of several recent analyst reports. ValuEngine cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Zacks Investment Research cut shares of Fulton Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, July 14th. BidaskClub cut shares of Fulton Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, August 21st. Stephens began coverage on shares of Fulton Financial in a report on Monday, June 1st. They set an “equal weight” rating and a $12.00 target price on the stock. Finally, Raymond James upgraded shares of Fulton Financial from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Fulton Financial presently has a consensus rating of “Hold” and an average target price of $12.00.
Fulton Financial stock opened at $9.56 on Wednesday. The firm has a market cap of $1.55 billion, a PE ratio of 8.69 and a beta of 0.89. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.96 and a current ratio of 0.96. The firm’s 50 day moving average price is $9.96 and its two-hundred day moving average price is $10.88. Fulton Financial Corp has a twelve month low of $8.91 and a twelve month high of $18.00.
Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, July 21st. The bank reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.20. The firm had revenue of $211.78 million for the quarter, compared to analyst estimates of $208.20 million. Fulton Financial had a net margin of 17.89% and a return on equity of 7.83%. Equities analysts anticipate that Fulton Financial Corp will post 0.68 EPS for the current fiscal year.
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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