Flinton Capital Management LLC Has $296,000 Stake in Fulton Financial Corporation (FULT)
Flinton Capital Management LLC lifted its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT) by 52.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,596 shares of the bank’s stock after acquiring an additional 5,376 shares during the quarter. Flinton Capital Management LLC’s holdings in Fulton Financial Corporation were worth $296,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its holdings in Fulton Financial Corporation by 17,543.0% in the first quarter. BlackRock Inc. now owns 18,627,957 shares of the bank’s stock valued at $332,509,000 after buying an additional 18,522,374 shares during the last quarter. Vanguard Group Inc. increased its holdings in Fulton Financial Corporation by 2.1% in the second quarter. Vanguard Group Inc. now owns 15,089,443 shares of the bank’s stock valued at $286,699,000 after buying an additional 314,230 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Fulton Financial Corporation by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 14,443,398 shares of the bank’s stock valued at $274,426,000 after buying an additional 112,692 shares during the last quarter. State Street Corp increased its holdings in Fulton Financial Corporation by 10.2% in the first quarter. State Street Corp now owns 8,886,263 shares of the bank’s stock valued at $158,622,000 after buying an additional 821,236 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Fulton Financial Corporation by 0.6% in the second quarter. Alliancebernstein L.P. now owns 5,009,090 shares of the bank’s stock valued at $95,173,000 after buying an additional 29,669 shares during the last quarter. 62.99% of the stock is currently owned by institutional investors and hedge funds.
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Fulton Financial Corporation (NASDAQ:FULT) opened at 19.00 on Friday. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 19.19 and a beta of 1.17. The stock’s 50 day moving average price is $18.03 and its 200 day moving average price is $18.12. Fulton Financial Corporation has a 12-month low of $14.05 and a 12-month high of $19.90.
Fulton Financial Corporation (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, July 18th. The bank reported $0.26 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. The company had revenue of $193.93 million during the quarter, compared to analyst estimates of $194.02 million. Fulton Financial Corporation had a net margin of 20.86% and a return on equity of 8.02%. During the same quarter last year, the business posted $0.23 earnings per share. On average, equities research analysts anticipate that Fulton Financial Corporation will post $1.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Friday, September 29th. Fulton Financial Corporation’s payout ratio is 44.44%.
In other news, insider Craig A. Roda sold 19,309 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $18.42, for a total transaction of $355,671.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael J. Deporter sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $18.00, for a total transaction of $27,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,348 shares of company stock valued at $484,312. Company insiders own 0.68% of the company’s stock.
Several analysts recently weighed in on the company. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $17.50 price objective on shares of Fulton Financial Corporation in a report on Tuesday, October 3rd. Zacks Investment Research raised Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Wednesday, September 20th. Jefferies Group LLC reissued a “hold” rating and issued a $20.00 price objective on shares of Fulton Financial Corporation in a report on Friday, September 15th. BidaskClub lowered Fulton Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Finally, ValuEngine raised Fulton Financial Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Fulton Financial Corporation currently has an average rating of “Hold” and a consensus price target of $18.25.
Fulton Financial Corporation Company 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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