Fulton Financial Corporation $FULT Shares Bought by Savant Capital LLC

Savant Capital LLC lifted its stake in shares of Fulton Financial Corporation (NASDAQ:FULT) by 50.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,634 shares of the bank’s stock after acquiring an additional 9,976 shares during the period. Savant Capital LLC’s holdings in Fulton Financial were worth $535,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quarry LP increased its position in Fulton Financial by 1,669.6% during the first quarter. Quarry LP now owns 1,982 shares of the bank’s stock worth $36,000 after purchasing an additional 1,870 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of Fulton Financial during the 1st quarter valued at $60,000. Strs Ohio acquired a new stake in shares of Fulton Financial during the 1st quarter worth $152,000. Bare Financial Services Inc raised its position in shares of Fulton Financial by 24.1% in the 1st quarter. Bare Financial Services Inc now owns 9,595 shares of the bank’s stock worth $174,000 after buying an additional 1,864 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Fulton Financial in the second quarter valued at $186,000. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Trading Up 0.7%

FULT opened at $17.78 on Friday. The firm’s 50 day moving average is $18.23 and its 200-day moving average is $18.23. Fulton Financial Corporation has a 52-week low of $14.32 and a 52-week high of $22.49. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $3.21 billion, a P/E ratio of 9.31 and a beta of 0.88.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, November 8th. The bank reported $0.45 earnings per share for the quarter. Fulton Financial had a net margin of 19.01% and a return on equity of 12.55%. The business had revenue of $236.96 million during the quarter. Analysts expect that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, October 1st. This represents a $0.72 annualized dividend and a dividend yield of 4.0%. Fulton Financial’s dividend payout ratio (DPR) is currently 37.70%.

Insider Activity

In other news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $19.28, for a total transaction of $96,400.00. Following the sale, the director directly owned 90,477 shares of the company’s stock, valued at approximately $1,744,396.56. The trade was a 5.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FULT shares. Raymond James Financial upgraded Fulton Financial from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, October 7th. Weiss Ratings cut Fulton Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Zacks Research lowered shares of Fulton Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $20.00 price target (down from $22.00) on shares of Fulton Financial in a research report on Thursday, October 23rd. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Fulton Financial presently has a consensus rating of “Hold” and an average target price of $20.70.

Fulton Financial 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.