Dimensional Fund Advisors LP Acquires 16,295 Shares of Fulton Financial Co. (NASDAQ:FULT)

Dimensional Fund Advisors LP lifted its holdings in Fulton Financial Co. (NASDAQ:FULT) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,047,397 shares of the bank’s stock after purchasing an additional 16,295 shares during the period. Dimensional Fund Advisors LP owned 6.63% of Fulton Financial worth $204,562,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. OLD Point Trust & Financial Services N A bought a new position in shares of Fulton Financial in the fourth quarter worth about $38,000. YHB Investment Advisors Inc. bought a new position in shares of Fulton Financial in the first quarter worth about $36,000. Family Firm Inc. bought a new position in shares of Fulton Financial in the second quarter worth about $46,000. Blue Trust Inc. increased its stake in shares of Fulton Financial by 21.9% in the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after purchasing an additional 691 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Fulton Financial during the first quarter worth about $66,000. 72.02% of the stock is currently owned by institutional investors.

Fulton Financial Stock Up 2.9 %

NASDAQ FULT opened at $19.00 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average is $18.46 and its two-hundred day moving average is $16.92. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 11.74 and a beta of 0.74. Fulton Financial Co. has a 1-year low of $11.63 and a 1-year high of $20.33.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data 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. The company had revenue of $334.71 million for the quarter, compared to the consensus estimate of $296.38 million. Fulton Financial had a return on equity of 11.29% and a net margin of 17.93%. The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. Equities analysts forecast that Fulton Financial Co. will post 1.73 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Tuesday, October 1st. Fulton Financial’s payout ratio is 42.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FULT shares. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Jefferies Financial Group decreased 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. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.40.

Fulton Financial 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.