LSV Asset Management lessened its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,378,475 shares of the bank’s stock after selling 7,000 shares during the quarter. LSV Asset Management owned 0.79% of Fulton Financial worth $24,467,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Victory Capital Management Inc. purchased a new stake in shares of Fulton Financial in the first quarter worth about $45,404,000. Millennium Management LLC boosted its stake in shares of Fulton Financial by 3,372.9% in the fourth quarter. Millennium Management LLC now owns 776,919 shares of the bank’s stock worth $13,907,000 after buying an additional 754,548 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Fulton Financial by 2.2% in the fourth quarter. BlackRock Inc. now owns 18,973,800 shares of the bank’s stock worth $339,632,000 after buying an additional 415,507 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Fulton Financial by 177.8% in the fourth quarter. Deutsche Bank AG now owns 561,216 shares of the bank’s stock worth $10,042,000 after buying an additional 359,167 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Fulton Financial by 29.9% in the first quarter. Prudential Financial Inc. now owns 1,094,713 shares of the bank’s stock worth $19,431,000 after buying an additional 251,720 shares during the last quarter. Institutional investors and hedge funds own 64.84% of the company’s stock.
A number of analysts have recently commented on FULT shares. BidaskClub upgraded Fulton Financial from a “hold” rating to a “buy” rating in a research note on Thursday, March 8th. Hovde Group restated a “hold” rating and issued a $18.00 target price on shares of Fulton Financial in a research note on Monday, April 23rd. Zacks Investment Research downgraded Fulton Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Jefferies Group restated a “hold” rating and issued a $19.00 target price on shares of Fulton Financial in a research note on Thursday, April 19th. Finally, DA Davidson started coverage on Fulton Financial in a research note on Monday, March 26th. They issued a “neutral” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.29.
Shares of Fulton Financial opened at $17.35 on Wednesday, MarketBeat.com reports. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 1.73 and a beta of 1.03. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.42. Fulton Financial Co. has a 12-month low of $17.25 and a 12-month high of $17.52.
Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, April 17th. The bank reported $0.28 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.28. The company had revenue of $197.19 million for the quarter, compared to the consensus estimate of $199.94 million. Fulton Financial had a return on equity of 8.71% and a net margin of 20.66%. Fulton Financial’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 earnings per share. research analysts predict that Fulton Financial Co. will post 1.25 EPS for the current year.
In other Fulton Financial news, insider David M. Campbell sold 4,660 shares of the stock in a transaction that occurred on Friday, April 20th. The stock was sold at an average price of $17.08, for a total transaction of $79,592.80. Following the transaction, the insider now owns 617 shares in the company, valued at $10,538.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Scott Smith, Jr. sold 5,000 shares of the stock in a transaction that occurred on Tuesday, April 24th. The stock was sold at an average price of $17.30, for a total value of $86,500.00. The disclosure for this sale can be found here. Insiders have sold 13,485 shares of company stock worth $231,309 in the last quarter. 0.84% of the stock is currently owned by company insiders.
About Fulton Financial
Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.
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