Silver Oak Securities Incorporated Purchases Shares of 18,538 Fulton Financial Corporation (NASDAQ:FULT)

Silver Oak Securities Incorporated acquired a new position in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 18,538 shares of the bank's stock, valued at approximately $333,000.

Several other large investors also recently modified their holdings of FULT. Jones Financial Companies Lllp grew its position in Fulton Financial by 193.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock valued at $25,000 after purchasing an additional 853 shares during the period. Nomura Asset Management Co. Ltd. grew its position in Fulton Financial by 57.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock valued at $42,000 after purchasing an additional 800 shares during the period. GAMMA Investing LLC grew its position in Fulton Financial by 42.2% in the 1st quarter. GAMMA Investing LLC now owns 3,072 shares of the bank's stock valued at $56,000 after purchasing an additional 911 shares during the period. Byrne Asset Management LLC grew its position in Fulton Financial by 114.5% in the 1st quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank's stock valued at $58,000 after purchasing an additional 1,717 shares during the period. Finally, Covestor Ltd grew its position in Fulton Financial by 196.9% in the 4th quarter. Covestor Ltd now owns 3,976 shares of the bank's stock valued at $76,000 after purchasing an additional 2,637 shares during the period. Institutional investors and hedge funds own 72.02% of the company's stock.

Fulton Financial Price Performance

Shares of FULT traded up $0.53 during midday trading on Monday, hitting $17.66. 1,570,585 shares of the company traded hands, compared to its average volume of 1,423,774. The stock has a 50-day moving average of $17.18 and a 200-day moving average of $18.48. Fulton Financial Corporation has a one year low of $14.33 and a one year high of $22.49. The firm has a market cap of $3.21 billion, a P/E ratio of 10.39 and a beta of 0.77. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.92 and a quick ratio of 0.92.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.08. The firm had revenue of $322.64 million for the quarter, compared to analysts' expectations of $315.07 million. Fulton Financial had a return on equity of 12.19% and a net margin of 16.59%. During the same period in the prior year, the business posted $0.40 earnings per share. As a group, sell-side analysts predict that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Tuesday, July 1st. Fulton Financial's dividend payout ratio (DPR) is 42.35%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FULT. Keefe, Bruyette & Woods dropped their price target on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Piper Sandler dropped their price target on shares of Fulton Financial from $22.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Finally, DA Davidson reissued a "neutral" rating and set a $20.00 price target on shares of Fulton Financial in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Fulton Financial presently has a consensus rating of "Hold" and an average price target of $20.30.

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.