Crossmark Global Holdings Inc. Purchases New Stake in Fulton Financial Corporation (FULT)
Crossmark Global Holdings Inc. purchased a new stake in Fulton Financial Corporation (NASDAQ:FULT) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 14,199 shares of the bank’s stock, valued at approximately $266,000.
Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Fulton Financial by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,861,134 shares of the bank’s stock valued at $73,363,000 after purchasing an additional 95,105 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Fulton Financial by 54.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 324,346 shares of the bank’s stock worth $6,162,000 after buying an additional 114,256 shares during the period. Chicago Equity Partners LLC grew its position in shares of Fulton Financial by 24.6% in the 2nd quarter. Chicago Equity Partners LLC now owns 500,662 shares of the bank’s stock worth $9,513,000 after buying an additional 98,852 shares during the period. Flinton Capital Management LLC grew its position in shares of Fulton Financial by 52.6% in the 2nd quarter. Flinton Capital Management LLC now owns 15,596 shares of the bank’s stock worth $296,000 after buying an additional 5,376 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of Fulton Financial by 20.8% in the 2nd quarter. Voya Investment Management LLC now owns 74,088 shares of the bank’s stock worth $1,408,000 after buying an additional 12,743 shares during the period. 62.72% of the stock is currently owned by institutional investors.
Several research firms have issued reports on FULT. ValuEngine upgraded shares of Fulton Financial from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, September 20th. Jefferies Group restated a “hold” rating and set a $20.00 target price on shares of Fulton Financial in a research note on Friday, September 15th. Keefe, Bruyette & Woods restated a “hold” rating and set a $18.00 target price on shares of Fulton Financial in a research note on Tuesday, September 26th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $18.00 price objective on shares of Fulton Financial in a research note on Thursday, October 19th. Two investment 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 company presently has an average rating of “Hold” and an average target price of $18.60.
Fulton Financial Corporation (NASDAQ FULT) opened at $19.00 on Friday. Fulton Financial Corporation has a one year low of $16.45 and a one year 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 cap of $3,266.02, a P/E ratio of 18.11 and a beta of 1.16.
Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data 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. The firm had revenue of $194.19 million for the quarter, compared to analysts’ expectations of $200.00 million. Fulton Financial had a net margin of 21.15% and a return on equity of 8.28%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. research analysts expect that Fulton Financial Corporation will post 1.05 earnings per share for the current fiscal year.
The company also recently announced a special dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.03 dividend. This represents a yield of 2.42%. This is a positive change from Fulton Financial’s previous special dividend of $0.02. The ex-dividend date is Thursday, November 30th. Fulton Financial’s dividend payout ratio is currently 42.72%.
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About Fulton Financial
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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