Inscription Capital LLC Buys New Position in Fulton Financial Co. (NASDAQ:FULT)

Inscription Capital LLC acquired a new position in Fulton Financial Co. (NASDAQ:FULT) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 43,846 shares of the bank’s stock, valued at approximately $692,000.

Several other hedge funds have also recently made changes to their positions in the business. IndexIQ Advisors LLC lifted its position in shares of Fulton Financial by 3.0% in the 2nd quarter. IndexIQ Advisors LLC now owns 23,756 shares of the bank’s stock worth $375,000 after acquiring an additional 703 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Fulton Financial by 2.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 27,132 shares of the bank’s stock worth $345,000 after buying an additional 732 shares during the period. FMR LLC lifted its position in shares of Fulton Financial by 32.2% during the 2nd quarter. FMR LLC now owns 3,089 shares of the bank’s stock worth $48,000 after buying an additional 752 shares during the period. Bank of Montreal Can lifted its position in shares of Fulton Financial by 5.0% during the 2nd quarter. Bank of Montreal Can now owns 17,418 shares of the bank’s stock worth $276,000 after buying an additional 825 shares during the period. Finally, HighTower Advisors LLC lifted its position in shares of Fulton Financial by 6.5% during the 2nd quarter. HighTower Advisors LLC now owns 17,078 shares of the bank’s stock worth $269,000 after buying an additional 1,045 shares during the period. Institutional investors own 62.97% of the company’s stock.

FULT stock opened at $16.07 on Thursday. The business’s 50-day moving average price is $15.60 and its two-hundred day moving average price is $16.26. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. The firm has a market cap of $2.62 billion, a PE ratio of 10.79 and a beta of 0.84. Fulton Financial Co. has a 1-year low of $9.91 and a 1-year high of $18.41.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Monday, July 19th. The bank reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.05. The firm had revenue of $214.29 million for the quarter, compared to analyst estimates of $217.31 million. Fulton Financial had a return on equity of 10.27% and a net margin of 25.29%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. On average, analysts forecast that Fulton Financial Co. will post 1.48 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, October 1st will be issued a $0.14 dividend. The ex-dividend date is Thursday, September 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.48%. Fulton Financial’s dividend payout ratio (DPR) is 51.85%.

A number of equities research analysts recently weighed in on the company. Raymond James reaffirmed a “hold” rating and set a $15.17 price target on shares of Fulton Financial in a report on Monday, July 26th. Zacks Investment Research cut Fulton Financial from a “buy” rating to a “hold” rating in a report on Wednesday.

Fulton Financial Company Profile

Fulton Financial Corp. is financial holding company, which through its subsidiaries, engages in the provision of consumer and commercial banking products and services. It offers checking account and savings deposit products, certificates of deposit and individual retirement accounts. The company also offers investment management, trust, brokerage, insurance and investment advisory services to consumer and commercial banking customers in the market areas serviced by the subsidiary banks.

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Institutional Ownership by Quarter for Fulton Financial (NASDAQ:FULT)

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