Federated Investors Inc. PA lifted its stake in Fulton Financial Corporation (NASDAQ:FULT) by 134.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 304,785 shares of the bank’s stock after purchasing an additional 174,993 shares during the quarter. Federated Investors Inc. PA owned 0.17% of Fulton Financial Corporation worth $5,791,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Fulton Financial Corporation by 64.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,202 shares of the bank’s stock valued at $129,000 after acquiring an additional 2,824 shares in the last quarter. River Wealth Advisors LLC bought a new position in shares of Fulton Financial Corporation in the 1st quarter valued at approximately $182,000. Capital Fund Management S.A. bought a new position in shares of Fulton Financial Corporation in the 1st quarter valued at approximately $184,000. Jane Street Group LLC bought a new position in Fulton Financial Corporation in the 1st quarter worth approximately $184,000. Finally, Invictus RG bought a new position in Fulton Financial Corporation in the 1st quarter worth approximately $186,000. Hedge funds and other institutional investors own 62.99% of the company’s stock.
Shares of Fulton Financial Corporation (NASDAQ:FULT) traded up 0.58% during midday trading on Friday, hitting $17.45. The company’s stock had a trading volume of 1,739,297 shares. The company has a market cap of $3.05 billion, a P/E ratio of 17.63 and a beta of 1.16. The company has a 50-day moving average price of $17.51 and a 200 day moving average price of $18.12. Fulton Financial Corporation has a 1-year low of $14.04 and a 1-year high of $19.90.
Fulton Financial Corporation (NASDAQ:FULT) last announced its quarterly earnings results on Tuesday, July 18th. The bank reported $0.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The company had revenue of $193.93 million during the quarter, compared to the consensus estimate of $194.02 million. Fulton Financial Corporation had a net margin of 20.86% and a return on equity of 8.02%. During the same quarter last year, the firm earned $0.23 earnings per share. On average, equities research analysts predict that Fulton Financial Corporation will post $1.06 EPS for the current year.
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Several analysts have recently weighed in on the company. BidaskClub lowered Fulton Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Zacks Investment Research lowered Fulton Financial Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. ValuEngine raised Fulton Financial Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Boenning Scattergood reissued a “hold” rating on shares of Fulton Financial Corporation in a research note on Wednesday, July 19th. Finally, Stephens initiated coverage on Fulton Financial Corporation in a research note on Thursday, July 13th. They issued an “equal weight” rating on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Fulton Financial Corporation currently has an average rating of “Hold” and an average target price of $18.33.
In related news, insider Craig A. Roda sold 19,309 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $18.42, for a total value of $355,671.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael J. Deporter sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $18.00, for a total transaction of $27,000.00. The disclosure for this sale can be found here. Insiders have sold 26,348 shares of company stock valued at $484,312 in the last three months. 0.68% of the stock is owned by insiders.
Fulton Financial Corporation 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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