Measured Wealth Private Client Group LLC Makes New Investment in Fulton Financial Corporation (NASDAQ:FULT)

Key Points

• Measured Wealth Private Client Group LLC recently acquired a stake of 23,511 shares in Fulton Financial Corporation, valued at approximately $425,000 during the 1st quarter.
• Fulton Financial reported earnings per share of $0.55 for the last quarter, surpassing analysts' expectations of $0.43, with a revenue of $328.45 million.
• The company declared a quarterly dividend of $0.18 per share, providing an annualized yield of 4.0% and suggesting a dividend payout ratio of 42.11%.

Measured Wealth Private Client Group LLC acquired a new stake in Fulton Financial Corporation (NASDAQ:FULT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 23,511 shares of the bank's stock, valued at approximately $425,000.

Other hedge funds also recently made changes to their positions in the company. Summit Investment Advisors Inc. raised its stake in shares of Fulton Financial by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 18,997 shares of the bank's stock valued at $366,000 after purchasing an additional 602 shares during the period. 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 worth $657,000 after buying an additional 684 shares in the last quarter. Private Advisor Group LLC grew its stake in Fulton Financial by 2.0% during the first quarter. Private Advisor Group LLC now owns 35,552 shares of the bank's stock valued at $643,000 after acquiring an additional 704 shares in the last quarter. Xponance Inc. grew its stake in Fulton Financial by 5.5% during the first quarter. Xponance Inc. now owns 13,775 shares of the bank's stock valued at $249,000 after acquiring an additional 717 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Fulton Financial by 15.1% during the 1st quarter. Blue Trust Inc. now owns 5,728 shares of the bank's stock worth $104,000 after acquiring an additional 752 shares during the period. 72.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $18.41, for a total value of $92,050.00. Following the transaction, the director directly owned 599,102 shares in the company, valued at $11,029,467.82. This represents a 0.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FULT has been the topic of several recent analyst reports. Piper Sandler reaffirmed a "neutral" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Keefe, Bruyette & Woods upped their target price on Fulton Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. Finally, DA Davidson lifted their price target on shares of Fulton Financial from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Fulton Financial has an average rating of "Hold" and a consensus target price of $21.13.

Fulton Financial Stock Performance

Shares of NASDAQ:FULT traded up $0.17 during mid-day trading on Wednesday, reaching $18.65. 755,000 shares of the company traded hands, compared to its average volume of 1,444,526. The company's 50 day moving average price is $18.24 and its 200-day moving average price is $18.12. The firm has a market cap of $3.40 billion, a PE ratio of 10.91 and a beta of 0.82. Fulton Financial Corporation has a 52 week low of $14.32 and a 52 week high of $22.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.88.

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

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, July 1st. Fulton Financial's dividend payout ratio (DPR) is currently 42.11%.

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.