18,006 Shares in Fulton Financial Co. (NASDAQ:FULT) Acquired by Algert Global LLC

Algert Global LLC acquired a new stake in Fulton Financial Co. (NASDAQ:FULT) during the second quarter, according to its most recent filing with the SEC. The firm acquired 18,006 shares of the bank’s stock, valued at approximately $306,000.

Other hedge funds have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its holdings in Fulton Financial by 70.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 79,410 shares of the bank’s stock valued at $1,262,000 after acquiring an additional 32,941 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Fulton Financial in the 1st quarter valued at about $452,000. BNP Paribas Financial Markets grew its position in shares of Fulton Financial by 78.8% during the 1st quarter. BNP Paribas Financial Markets now owns 83,162 shares of the bank’s stock worth $1,321,000 after buying an additional 36,663 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Fulton Financial during the first quarter worth approximately $1,941,000. Finally, Tidal Investments LLC acquired a new position in Fulton Financial in the first quarter valued at approximately $807,000. 72.02% of the stock is currently owned by institutional investors.

Fulton Financial Trading Down 0.6 %

Shares of NASDAQ FULT opened at $17.17 on Wednesday. Fulton Financial Co. has a twelve month low of $11.99 and a twelve month high of $20.33. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 10.66 and a beta of 0.73. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.26. The company’s fifty day moving average is $18.06 and its 200-day moving average is $17.17.

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

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.96%. Fulton Financial’s payout ratio is 42.24%.

Analysts Set New Price Targets

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

Fulton Financial Company Profile

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.