51,061 Shares in Fulton Financial Corporation (FULT) Acquired by Jane Street Group LLC
Jane Street Group LLC purchased a new stake in shares of Fulton Financial Corporation (NASDAQ:FULT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 51,061 shares of the bank’s stock, valued at approximately $957,000.
Several other hedge funds have also recently bought and sold shares of FULT. Aperio Group LLC raised its position in shares of Fulton Financial by 30.3% during the 2nd quarter. Aperio Group LLC now owns 48,682 shares of the bank’s stock valued at $925,000 after acquiring an additional 11,325 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Fulton Financial by 54.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 324,346 shares of the bank’s stock valued at $6,162,000 after acquiring an additional 114,256 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Fulton Financial by 7.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 107,929 shares of the bank’s stock valued at $2,045,000 after acquiring an additional 7,746 shares in the last quarter. World Asset Management Inc raised its position in shares of Fulton Financial by 2.2% during the 2nd quarter. World Asset Management Inc now owns 11,005 shares of the bank’s stock valued at $209,000 after acquiring an additional 237 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Fulton Financial by 3.8% during the 2nd quarter. Sei Investments Co. now owns 10,378 shares of the bank’s stock valued at $198,000 after acquiring an additional 377 shares in the last quarter. 62.74% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Wednesday, September 20th. BidaskClub lowered Fulton Financial from a “hold” rating to a “sell” rating in a research report on Saturday. Jefferies Group reaffirmed a “hold” rating and issued a $20.00 target price on shares of Fulton Financial in a research report on Friday, September 15th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $18.00 target price on shares of Fulton Financial in a research report on Tuesday, September 26th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $18.00 target price on shares of Fulton Financial in a research report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $18.60.
Shares of Fulton Financial Corporation (NASDAQ FULT) opened at $18.25 on Wednesday. Fulton Financial Corporation has a 52-week low of $16.45 and a 52-week high of $19.90. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3,125.93, a price-to-earnings ratio of 17.33 and a beta of 1.17.
Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, October 17th. The bank reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. Fulton Financial had a return on equity of 8.28% and a net margin of 21.15%. The firm had revenue of $194.19 million for the quarter, compared to analyst estimates of $200.00 million. During the same period last year, the company earned $0.24 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. equities analysts anticipate that Fulton Financial Corporation will post 1.05 EPS for the current fiscal year.
The firm also recently declared a special dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.03 dividend. This is a boost from Fulton Financial’s previous special dividend of $0.02. The ex-dividend date is Thursday, November 30th. This represents a dividend yield of 2.42%. Fulton Financial’s dividend payout ratio is presently 42.72%.
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Fulton Financial Profile
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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