Wagner Bowman Management Corp increased its position in shares of Fulton Financial Corp (NASDAQ:FULT) by 0.5% during the first quarter, Holdings Channel reports. The firm owned 12,104 shares of the bank’s stock after buying an additional 63 shares during the period. Wagner Bowman Management Corp’s holdings in Fulton Financial Corp were worth $216,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Fund Advisors raised its position in shares of Fulton Financial Corp by 6.1% in the third quarter. BlackRock Fund Advisors now owns 9,400,145 shares of the bank’s stock worth $136,490,000 after buying an additional 540,610 shares during the period. Comerica Bank raised its position in shares of Fulton Financial Corp by 34.8% in the fourth quarter. Comerica Bank now owns 204,714 shares of the bank’s stock worth $3,849,000 after buying an additional 52,893 shares during the period. State Street Corp raised its position in shares of Fulton Financial Corp by 11.7% in the fourth quarter. State Street Corp now owns 8,065,027 shares of the bank’s stock worth $151,626,000 after buying an additional 845,682 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Fulton Financial Corp by 9.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 29,850 shares of the bank’s stock worth $561,000 after buying an additional 2,700 shares during the period. Finally, Citadel Advisors LLC raised its position in shares of Fulton Financial Corp by 320.0% in the third quarter. Citadel Advisors LLC now owns 163,019 shares of the bank’s stock worth $2,367,000 after buying an additional 124,207 shares during the period. Institutional investors and hedge funds own 58.70% of the company’s stock.
Fulton Financial Corp (NASDAQ:FULT) remained flat at $18.45 during mid-day trading on Friday. 1,184,298 shares of the stock were exchanged. The stock has a market cap of $3.21 billion, a PE ratio of 19.84 and a beta of 1.10. Fulton Financial Corp has a one year low of $12.66 and a one year high of $19.75. The company’s 50-day moving average is $18.03 and its 200-day moving average is $17.63.
Fulton Financial Corp (NASDAQ:FULT) last announced its earnings results on Tuesday, April 18th. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. Fulton Financial Corp had a net margin of 20.37% and a return on equity of 7.67%. The business earned $183.15 million during the quarter, compared to analyst estimates of $184.36 million. During the same period in the previous year, the business posted $0.22 earnings per share. Fulton Financial Corp’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts expect that Fulton Financial Corp will post $1.01 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Monday, April 3rd were given a dividend of $0.11 per share. The ex-dividend date was Thursday, March 30th. This is a positive change from Fulton Financial Corp’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 2.38%. Fulton Financial Corp’s payout ratio is presently 43.01%.
FULT has been the topic of a number of research reports. Zacks Investment Research lowered shares of Fulton Financial Corp from a “buy” rating to a “hold” rating in a research note on Monday, December 26th. Keefe, Bruyette & Woods set a $17.00 price target on shares of Fulton Financial Corp and gave the company a “hold” rating in a research note on Monday, April 10th. Finally, Barclays PLC reiterated a “sell” rating on shares of Fulton Financial Corp in a research note on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $18.00.
In other Fulton Financial Corp news, insider Curtis J. Myers sold 9,285 shares of Fulton Financial Corp stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $18.75, for a total transaction of $174,093.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.75% of the company’s stock.
About Fulton Financial Corp
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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