Los Angeles Capital Management LLC Grows Stock Position in Fulton Financial Co. (NASDAQ:FULT)

Los Angeles Capital Management LLC raised its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 14.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 13,966 shares of the bank’s stock after buying an additional 1,750 shares during the period. Los Angeles Capital Management LLC’s holdings in Fulton Financial were worth $237,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in shares of Fulton Financial by 70.9% during the 1st 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 buying an additional 32,941 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Fulton Financial during 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 valued at $1,321,000 after acquiring an additional 36,663 shares during the period. Rafferty Asset Management LLC grew its position in shares of Fulton Financial by 53.7% during the 4th quarter. Rafferty Asset Management LLC now owns 270,480 shares of the bank’s stock valued at $4,452,000 after acquiring an additional 94,538 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in shares of Fulton Financial during the 1st quarter valued at about $1,941,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Jefferies Financial Group dropped their target price on Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.40.

Fulton Financial Trading Up 2.5 %

FULT stock opened at $17.83 on Monday. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 11.07 and a beta of 0.74. The business’s 50-day moving average is $18.36 and its 200 day moving average is $16.87. Fulton Financial Co. has a 12-month low of $11.63 and a 12-month high of $20.33. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26.

Fulton Financial (NASDAQ:FULT) last issued 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. The business had revenue of $334.71 million for the quarter, compared to analysts’ expectations of $296.38 million. Fulton Financial had a return on equity of 11.29% and a net margin of 17.93%. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. On average, sell-side analysts anticipate 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 was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Monday, July 1st. Fulton Financial’s dividend payout ratio is currently 42.24%.

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.