Measured Wealth Private Client Group LLC Purchases New Holdings 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 shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,511 shares of the bank's stock, valued at approximately $425,000.

A number of other institutional investors have also recently bought and sold shares of the company. Hirtle Callaghan & Co LLC acquired a new stake in Fulton Financial during the first quarter valued at $231,000. IFG Advisory LLC acquired a new stake in shares of Fulton Financial in the first quarter worth about $301,000. Strategic Family Wealth Counselors L.L.C. acquired a new stake in shares of Fulton Financial in the first quarter worth about $252,000. Readystate Asset Management LP acquired a new stake in shares of Fulton Financial in the first quarter worth about $536,000. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Fulton Financial by 369.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 52,080 shares of the bank's stock worth $942,000 after buying an additional 40,997 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company's stock.

Insider Transactions 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 transaction, the director directly owned 599,102 shares in the company, valued at $11,029,467.82. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.07% of the stock is owned by corporate insiders.

Fulton Financial Stock Performance

Shares of Fulton Financial stock traded up $0.66 during trading on Tuesday, reaching $18.48. The company's stock had a trading volume of 1,584,572 shares, compared to its average volume of 1,448,960. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 0.89. The business's fifty day moving average price is $18.21 and its 200-day moving average price is $18.12. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 10.81 and a beta of 0.82. Fulton Financial Corporation has a one year low of $14.32 and a one year high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.12. Fulton Financial had a return on equity of 12.44% and a net margin of 17.00%. The business had revenue of $328.45 million for the quarter, compared to analyst estimates of $320.47 million. During the same period in the previous year, the company posted $0.52 earnings per share. As a group, equities research analysts predict that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

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 annualized dividend and a yield of 3.9%. The ex-dividend date was Tuesday, July 1st. Fulton Financial's payout ratio is currently 42.11%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price target on 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 reaffirmed a "hold" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Piper Sandler reaffirmed a "neutral" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Finally, DA Davidson lifted their price objective on Fulton Financial from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Fulton Financial currently has an average rating of "Hold" and a consensus price target of $21.13.

Fulton Financial 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.