Silver Oak Securities Incorporated Purchases Shares of 18,538 Fulton Financial Corporation (NASDAQ:FULT)

Silver Oak Securities Incorporated purchased a new stake in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 18,538 shares of the bank's stock, valued at approximately $333,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in Fulton Financial by 193.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock valued at $25,000 after purchasing an additional 853 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Fulton Financial by 57.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock valued at $42,000 after purchasing an additional 800 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Fulton Financial by 42.2% during the first quarter. GAMMA Investing LLC now owns 3,072 shares of the bank's stock valued at $56,000 after purchasing an additional 911 shares in the last quarter. Byrne Asset Management LLC lifted its holdings in Fulton Financial by 114.5% during the first quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank's stock valued at $58,000 after purchasing an additional 1,717 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Fulton Financial by 196.9% during the fourth quarter. Covestor Ltd now owns 3,976 shares of the bank's stock valued at $76,000 after purchasing an additional 2,637 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company's stock.

Fulton Financial Trading Down 0.8%

FULT stock traded down $0.16 during trading on Monday, reaching $18.94. 1,327,823 shares of the stock were exchanged, compared to its average volume of 1,409,199. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 11.14 and a beta of 0.77. The business has a 50 day moving average price of $17.58 and a 200-day moving average price of $18.34. Fulton Financial Corporation has a 1 year low of $14.33 and a 1 year high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. The firm had revenue of $322.64 million for the quarter, compared to analysts' expectations of $315.07 million. Fulton Financial had a return on equity of 12.19% and a net margin of 16.59%. During the same period in the prior year, the firm posted $0.40 earnings per share. On average, research analysts predict that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.72 dividend on an annualized basis and a yield of 3.80%. Fulton Financial's dividend payout ratio is currently 42.35%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FULT shares. Keefe, Bruyette & Woods decreased their price objective on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. DA Davidson reaffirmed a "neutral" rating and set a $20.00 price objective on shares of Fulton Financial in a research note on Wednesday, April 16th. Finally, Piper Sandler decreased their target price on shares of Fulton Financial from $22.00 to $20.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $20.88.

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.