Fox Run Management L.L.C. Purchases New Holdings 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. bought a new stake in Fulton Financial Corporation (NASDAQ:FULT - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 16,379 shares of the bank's stock, valued at approximately $296,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in Fulton Financial by 1.9% in the 1st 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 stake in Fulton Financial in the 1st quarter valued at about $287,000. Silver Oak Securities Incorporated acquired a new stake in Fulton Financial in the 1st quarter valued at about $333,000. New York State Teachers Retirement System raised its position in Fulton Financial by 1.3% in the 1st quarter. New York State Teachers Retirement System now owns 240,935 shares of the bank's stock valued at $4,359,000 after purchasing an additional 2,985 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Fulton Financial by 50.1% in the 4th quarter. Deutsche Bank AG now owns 154,894 shares of the bank's stock valued at $2,986,000 after purchasing an additional 51,670 shares in the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Fulton Financial Stock Up 6.2%

Fulton Financial stock traded up $1.15 during midday trading on Friday, reaching $19.64. The company's stock had a trading volume of 1,843,498 shares, compared to its average volume of 1,525,958. Fulton Financial Corporation has a fifty-two week low of $14.32 and a fifty-two week high of $22.49. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The company has a market cap of $3.58 billion, a P/E ratio of 11.49 and a beta of 0.82. The business has a 50-day simple moving average of $18.45 and a 200-day simple moving average of $18.03.

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

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, July 1st. Fulton Financial's dividend payout ratio (DPR) is currently 42.11%.

Insider Transactions at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $18.41, for a total transaction of $92,050.00. Following the transaction, the director owned 599,102 shares in the company, valued at $11,029,467.82. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.08% of the stock is owned by corporate insiders.

About Fulton Financial

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.