Palisade Capital Management LLC NJ lifted its holdings in Fulton Financial Corporation (NASDAQ:FULT) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,249,759 shares of the bank’s stock after purchasing an additional 23,103 shares during the quarter. Fulton Financial Corporation accounts for about 0.8% of Palisade Capital Management LLC NJ’s investment portfolio, making the stock its 28th biggest holding. Palisade Capital Management LLC NJ owned 0.71% of Fulton Financial Corporation worth $23,433,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Fulton Financial Corporation by 7.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,721 shares of the bank’s stock valued at $147,000 after acquiring an additional 519 shares during the last quarter. Advisor Group Inc. increased its position in Fulton Financial Corporation by 5.3% during the second quarter. Advisor Group Inc. now owns 8,336 shares of the bank’s stock valued at $158,000 after acquiring an additional 417 shares during the last quarter. Jane Street Group LLC purchased a new stake in Fulton Financial Corporation during the first quarter valued at $184,000. Riverhead Capital Management LLC increased its position in Fulton Financial Corporation by 56.0% during the second quarter. Riverhead Capital Management LLC now owns 9,985 shares of the bank’s stock valued at $190,000 after acquiring an additional 3,585 shares during the last quarter. Finally, Sei Investments Co. increased its position in Fulton Financial Corporation by 3.8% during the second quarter. Sei Investments Co. now owns 10,378 shares of the bank’s stock valued at $198,000 after acquiring an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 62.87% of the company’s stock.
A number of brokerages have commented on FULT. Boenning Scattergood restated a “hold” rating on shares of Fulton Financial Corporation in a research report on Wednesday, July 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $17.50 price objective on shares of Fulton Financial Corporation in a research note on Tuesday, October 3rd. Zacks Investment Research raised Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Tuesday, July 25th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Fulton Financial Corporation in a research note on Thursday, October 19th. Finally, BidaskClub lowered Fulton Financial Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.67.
Fulton Financial Corporation (NASDAQ:FULT) traded up $0.10 during trading on Friday, hitting $17.65. The stock had a trading volume of 873,900 shares, compared to its average volume of 712,072. Fulton Financial Corporation has a 52-week low of $16.30 and a 52-week high of $19.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $3,090.90, a PE ratio of 17.14 and a beta of 1.16.
Fulton Financial Corporation (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, October 17th. The bank reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.01. Fulton Financial Corporation had a return on equity of 8.28% and a net margin of 21.15%. The business had revenue of $194.19 million during the quarter, compared to analyst estimates of $200.00 million. During the same quarter last year, the business posted $0.24 EPS. The company’s revenue was up 8.7% on a year-over-year basis. equities research analysts forecast that Fulton Financial Corporation will post 1.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Monday, October 2nd were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, September 29th. This represents a $0.44 annualized dividend and a dividend yield of 2.49%. Fulton Financial Corporation’s dividend payout ratio is presently 42.72%.
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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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