Vestmark Advisory Solutions Inc. Invests $344,000 in Fulton Financial Corporation $FULT

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Vestmark Advisory Solutions Inc. bought a new stake in Fulton Financial Corporation (NASDAQ:FULT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,009 shares of the bank's stock, valued at approximately $344,000.

Other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its stake 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 valued at $657,000 after buying an additional 684 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Fulton Financial in the first quarter valued at $287,000. Silver Oak Securities Incorporated bought a new stake in shares of Fulton Financial in the first quarter valued at $333,000. New York State Teachers Retirement System raised its stake in shares of Fulton Financial by 1.3% in the first quarter. New York State Teachers Retirement System now owns 240,935 shares of the bank's stock valued at $4,359,000 after buying an additional 2,985 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Fulton Financial by 50.1% in the fourth quarter. Deutsche Bank AG now owns 154,894 shares of the bank's stock valued at $2,986,000 after buying an additional 51,670 shares during the period. 72.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.08% of the stock is currently owned by insiders.

Fulton Financial Price Performance

Fulton Financial stock traded up $1.15 during midday trading on Friday, hitting $19.64. 1,843,498 shares of the company's stock were exchanged, compared to its average volume of 1,451,566. Fulton Financial Corporation has a 52-week low of $14.32 and a 52-week high of $22.49. The stock has a 50-day moving average price of $18.40 and a two-hundred day moving average price of $18.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $3.58 billion, a P/E ratio of 11.49 and a beta of 0.82.

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 the consensus estimate of $0.43 by $0.12. Fulton Financial had a return on equity of 12.64% and a net margin of 17.00%.The business had revenue of $328.45 million during the quarter, compared to analysts' expectations of $320.47 million. During the same period in the previous year, the business earned $0.52 earnings per share. On average, equities research analysts forecast that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, July 1st. Fulton Financial's payout ratio is presently 42.11%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FULT. DA Davidson boosted their target price on Fulton Financial from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Piper Sandler reiterated a "neutral" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Jefferies Financial Group reiterated a "hold" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods boosted their price objective on Fulton Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $21.13.

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.