Fulton Financial Corporation (FULT) Stake Lessened by M&T Bank Corp

M&T Bank Corp decreased its position in Fulton Financial Corporation (NASDAQ:FULT) by 0.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 495,950 shares of the bank’s stock after selling 3,403 shares during the period. M&T Bank Corp owned about 0.28% of Fulton Financial Corporation worth $9,422,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Capstone Asset Management Co. grew its holdings in shares of Fulton Financial Corporation by 0.5% in the first quarter. Capstone Asset Management Co. now owns 13,849 shares of the bank’s stock worth $247,000 after purchasing an additional 70 shares during the last quarter. LS Investment Advisors LLC grew its holdings in shares of Fulton Financial Corporation by 0.6% in the first quarter. LS Investment Advisors LLC now owns 11,894 shares of the bank’s stock worth $212,000 after purchasing an additional 72 shares during the last quarter. Wagner Bowman Management Corp grew its holdings in shares of Fulton Financial Corporation by 0.6% in the second quarter. Wagner Bowman Management Corp now owns 12,178 shares of the bank’s stock worth $231,000 after purchasing an additional 74 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Fulton Financial Corporation by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 15,522 shares of the bank’s stock worth $295,000 after purchasing an additional 77 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Fulton Financial Corporation by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,513 shares of the bank’s stock worth $485,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 62.99% of the company’s stock.

In other Fulton Financial Corporation news, insider Craig A. Roda sold 19,309 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $18.42, for a total value of $355,671.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director R Scott Smith, Jr. sold 5,539 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $18.35, for a total value of $101,640.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,348 shares of company stock worth $484,312. Insiders own 0.68% of the company’s stock.

Fulton Financial Corporation (FULT) traded up 0.55% during mid-day trading on Friday, reaching $18.15. 127,163 shares of the company traded hands. The company’s 50 day moving average price is $17.49 and its 200 day moving average price is $18.09. The firm has a market capitalization of $3.18 billion, a P/E ratio of 18.33 and a beta of 1.16. Fulton Financial Corporation has a 12-month low of $14.04 and a 12-month high of $19.90.

Fulton Financial Corporation (NASDAQ:FULT) last released its earnings results on Tuesday, July 18th. The bank reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Fulton Financial Corporation had a return on equity of 8.02% and a net margin of 20.86%. The business had revenue of $193.93 million for the quarter, compared to analyst estimates of $194.02 million. During the same quarter last year, the firm posted $0.23 earnings per share. Equities research analysts predict that Fulton Financial Corporation will post $1.06 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 2nd will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.44 dividend on an annualized basis and a yield of 2.44%. Fulton Financial Corporation’s payout ratio is 44.44%.

Several brokerages have recently issued reports on FULT. Zacks Investment Research upgraded shares of Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Wednesday. Jefferies Group LLC restated a “hold” rating and issued a $20.00 target price on shares of Fulton Financial Corporation in a report on Friday, September 15th. BidaskClub cut shares of Fulton Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. ValuEngine upgraded shares of Fulton Financial Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Finally, Boenning Scattergood restated a “hold” rating on shares of Fulton Financial Corporation in a report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Fulton Financial Corporation currently has an average rating of “Hold” and an average target price of $18.33.

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Fulton Financial Corporation 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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Institutional Ownership by Quarter for Fulton Financial Corporation (NASDAQ:FULT)

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