Jefferies Financial Group Inc. Invests $4.58 Million in Fulton Financial Corporation $FULT

Key Points

• Jefferies Financial Group disclosed a new stake in Fulton Financial, buying 236,951 shares valued at about $4.58 million in the fourth quarter.
• Fulton Financial recently reported Q1 earnings of $0.55 per share, topping analyst expectations of $0.50, even though revenue came in below forecasts. The bank also said it expects full-year EPS of 2.17.
• The company paid a quarterly dividend of $0.19, equal to an annualized yield of about 3.5%. Analysts currently have a Hold consensus on the stock with a $23 price target.

Jefferies Financial Group Inc. bought a new stake in Fulton Financial Corporation (NASDAQ:FULT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 236,951 shares of the bank's stock, valued at approximately $4,580,000. Jefferies Financial Group Inc. owned approximately 0.13% of Fulton Financial as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. First Trust Advisors LP grew its holdings in shares of Fulton Financial by 0.4% in the third quarter. First Trust Advisors LP now owns 5,646,713 shares of the bank's stock valued at $105,198,000 after acquiring an additional 19,855 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Fulton Financial by 25.3% in the third quarter. American Century Companies Inc. now owns 3,583,100 shares of the bank's stock worth $66,753,000 after acquiring an additional 723,948 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Fulton Financial by 6.4% in the third quarter. Fisher Asset Management LLC now owns 3,363,509 shares of the bank's stock worth $62,662,000 after acquiring an additional 203,708 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Fulton Financial by 6.0% in the third quarter. Ameriprise Financial Inc. now owns 1,266,534 shares of the bank's stock worth $23,596,000 after acquiring an additional 71,353 shares during the period. Finally, Invesco Ltd. raised its position in shares of Fulton Financial by 4.6% in the second quarter. Invesco Ltd. now owns 1,240,920 shares of the bank's stock worth $22,386,000 after buying an additional 55,017 shares in the last quarter. 72.02% of the stock is owned by institutional investors.

Fulton Financial Price Performance

FULT stock opened at $21.44 on Tuesday. The firm has a 50 day moving average price of $20.95 and a 200-day moving average price of $20.28. Fulton Financial Corporation has a 52-week low of $16.60 and a 52-week high of $22.99. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 10.21 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 0.90.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. Fulton Financial had a net margin of 20.85% and a return on equity of 12.69%. The firm had revenue of $331.86 million during the quarter, compared to analyst estimates of $359.36 million. During the same period last year, the business earned $0.52 earnings per share. Equities research analysts forecast that Fulton Financial Corporation will post 2.17 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Wednesday, April 1st. Fulton Financial's payout ratio is presently 36.19%.

Insiders Place Their Bets

In related news, Director E Philip Wenger sold 5,000 shares of the business's stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $21.42, for a total value of $107,100.00. Following the completion of the transaction, the director directly owned 80,477 shares in the company, valued at $1,723,817.34. The trade was a 5.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.01% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FULT has been the topic of a number of recent analyst reports. Raymond James Financial reiterated an "outperform" rating and issued a $24.00 price objective on shares of Fulton Financial in a research report on Monday, April 27th. DA Davidson started coverage on Fulton Financial in a research note on Wednesday, February 25th. They set a "neutral" rating and a $24.00 price objective on the stock. Weiss Ratings raised Fulton Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 1st. Finally, Wall Street Zen cut Fulton Financial from a "hold" rating to a "sell" rating in a research note on Sunday, May 3rd. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $23.00.

About Fulton Financial

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial's offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.

Want to see what other hedge funds are holding FULT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fulton Financial Corporation (NASDAQ:FULT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.