Swiss National Bank Reduces Stock Holdings in Fulton Financial Corporation $FULT
by Amy Steele · The Cerbat GemSwiss National Bank lessened its position in shares of Fulton Financial Corporation (NASDAQ:FULT – Free Report) by 1.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 348,200 shares of the bank’s stock after selling 4,500 shares during the period. Swiss National Bank’s holdings in Fulton Financial were worth $6,282,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in FULT. Quarry LP raised its position in Fulton Financial by 1,669.6% during the first quarter. Quarry LP now owns 1,982 shares of the bank’s stock worth $36,000 after acquiring an additional 1,870 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new position in shares of Fulton Financial during the 1st quarter worth approximately $60,000. Strs Ohio acquired a new position in shares of Fulton Financial during the 1st quarter worth approximately $152,000. Bare Financial Services Inc lifted its stake in Fulton Financial by 24.1% in the 1st quarter. Bare Financial Services Inc now owns 9,595 shares of the bank’s stock valued at $174,000 after buying an additional 1,864 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in Fulton Financial in the 2nd quarter valued at approximately $186,000. 72.02% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $19.28, for a total value of $96,400.00. Following the completion of the transaction, the director owned 90,477 shares in the company, valued at $1,744,396.56. This represents a 5.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.08% of the stock is currently owned by corporate insiders.
Fulton Financial Price Performance
FULT opened at $18.18 on Monday. Fulton Financial Corporation has a 52-week low of $14.32 and a 52-week high of $21.85. The company has a 50 day moving average of $17.93 and a two-hundred day moving average of $18.25. The company has a market cap of $3.28 billion, a P/E ratio of 9.52 and a beta of 0.88. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.37.
Fulton Financial (NASDAQ:FULT – Get Free Report) last announced its quarterly earnings results on Tuesday, November 8th. The bank reported $0.45 earnings per share for the quarter. Fulton Financial had a net margin of 19.01% and a return on equity of 12.55%. The firm had revenue of $236.96 million during the quarter. On average, analysts expect that Fulton Financial Corporation will post 1.91 earnings per share for the current year.
Fulton Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.72 annualized dividend and a yield of 4.0%. Fulton Financial’s payout ratio is 37.70%.
Analysts Set New Price Targets
Several research firms have weighed in on FULT. Weiss Ratings downgraded Fulton Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Raymond James Financial upgraded Fulton Financial from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price objective on shares of Fulton Financial from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Wednesday, November 26th. Finally, Zacks Research cut shares of Fulton Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Fulton Financial currently has a consensus rating of “Hold” and a consensus price target of $20.90.
View Our Latest Stock Report on Fulton Financial
Fulton Financial Company Profile
Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.
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