Nordea Investment Management AB cut its holdings in Fulton Financial Corporation (NASDAQ:FULT – Free Report) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 557,158 shares of the bank’s stock after selling 1,184 shares during the quarter. Nordea Investment Management AB owned approximately 0.31% of Fulton Financial worth $10,104,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB lifted its stake in Fulton Financial by 5.5% in the second quarter. Wilmington Savings Fund Society FSB now owns 32,510 shares of the bank’s stock worth $586,000 after acquiring an additional 1,700 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Fulton Financial during the second quarter valued at about $186,000. Vest Financial LLC lifted its position in shares of Fulton Financial by 100.7% during the second quarter. Vest Financial LLC now owns 167,681 shares of the bank’s stock valued at $3,025,000 after buying an additional 84,152 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its position in shares of Fulton Financial by 22.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 43,047 shares of the bank’s stock valued at $776,000 after buying an additional 7,754 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in shares of Fulton Financial by 13.2% during the second quarter. Inspire Investing LLC now owns 21,551 shares of the bank’s stock valued at $389,000 after buying an additional 2,510 shares during the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $19.28, for a total value of $96,400.00. Following the transaction, the director owned 90,477 shares in the company, valued at approximately $1,744,396.56. This represents a 5.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.07% of the company’s stock.
Fulton Financial Stock Performance
Fulton Financial (NASDAQ:FULT – Get Free Report) last announced its quarterly earnings data on Tuesday, November 8th. The bank reported $0.45 EPS for the quarter. The firm had revenue of $236.96 million during the quarter. Fulton Financial had a net margin of 17.00% and a return on equity of 12.64%. Sell-side analysts expect that Fulton Financial Corporation will post 1.91 EPS for the current year.
Fulton Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.2%. The ex-dividend date was Wednesday, October 1st. Fulton Financial’s dividend payout ratio is 42.11%.
Analyst Upgrades and Downgrades
Several research firms have commented on FULT. Raymond James Financial raised shares of Fulton Financial from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Tuesday, October 7th. DA Davidson increased their price target on shares of Fulton Financial from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods increased their price target on shares of Fulton Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research report on Thursday, July 17th. Zacks Research lowered shares of Fulton Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Fulton Financial in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $21.10.
Check Out Our Latest Research Report on FULT
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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