Fox Run Management L.L.C. Invests $296,000 in Fulton Financial Corporation $FULT

Key Points

• Fox Run Management L.L.C. has invested approximately $296,000 in Fulton Financial Corporation by acquiring 16,379 shares during the first quarter.
• Fulton Financial reported an earnings per share (EPS) of $0.55 for the most recent quarter, exceeding estimates and showing a year-over-year increase from $0.52.
• The company has declared a quarterly dividend of $0.18 per share, which represents an annualized dividend yield of 3.9%.

Fox Run Management L.L.C. acquired a new position in Fulton Financial Corporation (NASDAQ:FULT - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 16,379 shares of the bank's stock, valued at approximately $296,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FULT. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Fulton Financial by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,303 shares of the bank's stock valued at $657,000 after purchasing an additional 684 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Fulton Financial during the first quarter valued at $287,000. Silver Oak Securities Incorporated purchased a new stake in Fulton Financial in the 1st quarter worth about $333,000. New York State Teachers Retirement System boosted its position in Fulton Financial by 1.3% during the 1st quarter. New York State Teachers Retirement System now owns 240,935 shares of the bank's stock worth $4,359,000 after acquiring an additional 2,985 shares during the period. Finally, Deutsche Bank AG grew its stake in Fulton Financial by 50.1% during the 4th quarter. Deutsche Bank AG now owns 154,894 shares of the bank's stock valued at $2,986,000 after acquiring an additional 51,670 shares in the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Stock Performance

Shares of NASDAQ:FULT traded down $0.01 during trading on Monday, reaching $19.63. The stock had a trading volume of 1,437,866 shares, compared to its average volume of 1,548,379. The stock has a fifty day simple moving average of $18.50 and a two-hundred day simple moving average of $18.00. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. Fulton Financial Corporation has a 52 week low of $14.32 and a 52 week high of $22.49. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 11.48 and a beta of 0.82.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its earnings results on Tuesday, July 15th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.12. The business had revenue of $328.45 million for the quarter, compared to analyst estimates of $320.47 million. Fulton Financial had a net margin of 17.00% and a return on equity of 12.64%. During the same period last year, the business posted $0.52 EPS. As a group, analysts anticipate that Fulton Financial Corporation will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.18 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.7%. Fulton Financial's payout ratio is presently 42.11%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FULT. Keefe, Bruyette & Woods increased their price target on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Jefferies Financial Group reiterated a "hold" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Piper Sandler reissued a "neutral" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Finally, DA Davidson upped their price target on shares of Fulton Financial from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $21.13.

Insider Activity at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $18.41, for a total transaction of $92,050.00. Following the completion of the transaction, the director owned 599,102 shares of the company's stock, valued at approximately $11,029,467.82. The trade was a 0.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.07% of the company's stock.

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.