DekaBank Deutsche Girozentrale Acquires Shares of 10,710 Fulton Financial Co. (NASDAQ:FULT)

DekaBank Deutsche Girozentrale bought a new position in shares of Fulton Financial Co. (NASDAQ:FULT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,710 shares of the bank’s stock, valued at approximately $178,000.

Several other large investors also recently modified their holdings of the business. YHB Investment Advisors Inc. purchased a new stake in Fulton Financial in the 1st quarter worth approximately $36,000. OLD Point Trust & Financial Services N A bought a new position in shares of Fulton Financial during the fourth quarter valued at approximately $38,000. Family Firm Inc. purchased a new stake in Fulton Financial in the second quarter worth $46,000. Blue Trust Inc. boosted its holdings in Fulton Financial by 21.9% in the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after acquiring an additional 691 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Fulton Financial during the 1st quarter valued at $66,000. 72.02% of the stock is owned by institutional investors.

Fulton Financial Stock Down 2.7 %

NASDAQ:FULT opened at $18.49 on Friday. Fulton Financial Co. has a 1-year low of $11.63 and a 1-year high of $20.33. The company has a market capitalization of $3.36 billion, a PE ratio of 11.63 and a beta of 0.74. The firm’s 50-day moving average price is $18.50 and its 200-day moving average price is $16.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.93 and a quick ratio of 0.93.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, July 16th. The bank reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.22. Fulton Financial had a net margin of 17.93% and a return on equity of 11.29%. The business had revenue of $334.71 million during the quarter, compared to the consensus estimate of $296.38 million. During the same quarter last year, the firm earned $0.47 earnings per share. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, equities analysts predict that Fulton Financial Co. will post 1.73 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.68%. The ex-dividend date is Tuesday, October 1st. Fulton Financial’s dividend payout ratio (DPR) is 42.24%.

Wall Street Analysts Forecast Growth

FULT has been the subject of several research analyst reports. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Jefferies Financial Group lowered their price objective on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Fulton Financial currently has an average rating of “Hold” and a consensus target price of $18.40.

About Fulton Financial

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.