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Silver Oak Securities Incorporated bought a new position in shares of Fulton Financial Corporation (NASDAQ:FULT – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,538 shares of the bank’s stock, valued at approximately $333,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Proficio Capital Partners LLC acquired a new position in Fulton Financial in the fourth quarter worth about $279,000. Jones Financial Companies Lllp grew its stake in Fulton Financial by 193.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank’s stock worth $25,000 after purchasing an additional 853 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Fulton Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank’s stock worth $45,837,000 after purchasing an additional 19,329 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Fulton Financial in the fourth quarter worth about $1,676,000. Finally, Amundi grew its stake in Fulton Financial by 187.4% in the fourth quarter. Amundi now owns 92,029 shares of the bank’s stock worth $1,780,000 after purchasing an additional 60,005 shares in the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on FULT shares. Piper Sandler decreased their price target on Fulton Financial from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. DA Davidson reiterated a “neutral” rating and issued a $20.00 price target on shares of Fulton Financial in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods decreased their price target on Fulton Financial from $24.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, April 17th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.88.
Check Out Our Latest Research Report on Fulton Financial
Fulton Financial Stock Performance
Shares of FULT stock opened at $19.10 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $17.58 and a two-hundred day moving average of $18.34. Fulton Financial Corporation has a 52 week low of $14.33 and a 52 week high of $22.49. The company has a market cap of $3.47 billion, a P/E ratio of 11.23 and a beta of 0.77.
Fulton Financial (NASDAQ:FULT – Get Free Report) last issued its earnings results on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Fulton Financial had a return on equity of 12.19% and a net margin of 16.59%. The company had revenue of $322.64 million during the quarter, compared to the consensus estimate of $315.07 million. During the same period in the previous year, the firm posted $0.40 earnings per share. As a group, analysts anticipate that Fulton Financial Corporation will post 1.91 EPS for the current year.
Fulton Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.77%. Fulton Financial’s dividend payout ratio (DPR) is presently 42.35%.
Fulton Financial Company 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.
See Also
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