JPMorgan Chase & Co. Has $5.62 Million Stake in Fulton Financial Corp (NASDAQ:FULT)
JPMorgan Chase & Co. cut its stake in Fulton Financial Corp (NASDAQ:FULT) by 58.9% in the first quarter, HoldingsChannel reports. The firm owned 363,261 shares of the bank’s stock after selling 520,400 shares during the quarter. JPMorgan Chase & Co.’s holdings in Fulton Financial were worth $5,623,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of FULT. Toronto Dominion Bank purchased a new position in Fulton Financial in the fourth quarter worth approximately $39,000. Oregon Public Employees Retirement Fund grew its position in Fulton Financial by 1,448.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,071,618 shares of the bank’s stock worth $69,000 after acquiring an additional 1,002,392 shares during the period. Hudock Capital Group LLC grew its position in Fulton Financial by 99.8% in the first quarter. Hudock Capital Group LLC now owns 4,855 shares of the bank’s stock worth $75,000 after acquiring an additional 2,425 shares during the period. Pearl River Capital LLC purchased a new position in Fulton Financial in the first quarter worth approximately $112,000. Finally, Bessemer Group Inc. purchased a new position in Fulton Financial in the fourth quarter worth approximately $121,000. Institutional investors and hedge funds own 64.92% of the company’s stock.
In other news, COO Curtis J. Myers sold 6,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $17.03, for a total transaction of $110,695.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Deporter sold 3,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $16.91, for a total value of $50,730.00. Following the transaction, the insider now owns 2,266 shares of the company’s stock, valued at $38,318.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,660 shares of company stock valued at $249,145. Company insiders own 1.02% of the company’s stock.
FULT opened at $16.14 on Friday. Fulton Financial Corp has a 52 week low of $14.38 and a 52 week high of $18.45. The firm has a market cap of $2.72 billion, a PE ratio of 13.11, a PEG ratio of 1.45 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.46.
Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33. Fulton Financial had a return on equity of 9.50% and a net margin of 21.95%. The business had revenue of $210.00 million during the quarter, compared to analyst estimates of $212.93 million. During the same period last year, the business posted $0.28 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts predict that Fulton Financial Corp will post 1.39 earnings per share for the current fiscal year.
Fulton Financial Company Profile
Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.
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