Prudential Financial Inc. Acquires 18,432 Shares of Fulton Financial Corporation $FULT

Prudential Financial Inc. lifted its holdings in Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 5.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 337,518 shares of the bank's stock after purchasing an additional 18,432 shares during the period. Prudential Financial Inc. owned 0.19% of Fulton Financial worth $6,089,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP lifted its position in shares of Fulton Financial by 1,669.6% in the first quarter. Quarry LP now owns 1,982 shares of the bank's stock worth $36,000 after buying an additional 1,870 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in shares of Fulton Financial in the 1st quarter valued at approximately $60,000. Strs Ohio acquired a new stake in Fulton Financial in the 1st quarter worth approximately $152,000. Bare Financial Services Inc lifted its holdings in Fulton Financial by 24.1% in the 1st quarter. Bare Financial Services Inc now owns 9,595 shares of the bank's stock worth $174,000 after purchasing an additional 1,864 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Fulton Financial during the second quarter worth approximately $186,000. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Price Performance

Shares of Fulton Financial stock opened at $18.18 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $3.28 billion, a PE ratio of 9.52 and a beta of 0.88. The firm has a fifty day moving average price of $17.93 and a two-hundred day moving average price of $18.25. Fulton Financial Corporation has a fifty-two week low of $14.32 and a fifty-two week high of $21.85.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 8th. The bank reported $0.45 earnings per share (EPS) for the quarter. Fulton Financial had a net margin of 19.01% and a return on equity of 12.55%. The company had revenue of $236.96 million for the quarter. Analysts expect that Fulton Financial Corporation will post 1.91 EPS for the current year.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.72 annualized dividend and a yield of 4.0%. Fulton Financial's dividend payout ratio is 37.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Raymond James Financial raised shares of Fulton Financial from a "market perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research report on Tuesday, October 7th. Zacks Research lowered shares of Fulton Financial from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Keefe, Bruyette & Woods upped their price target on shares of Fulton Financial from $20.00 to $21.00 and gave the company a "market perform" rating in a report on Wednesday. Finally, Weiss Ratings lowered Fulton Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Saturday, October 25th. Two analysts have rated the stock with a Buy rating and seven 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 an average target price of $20.90.

Read Our Latest Stock Analysis on Fulton Financial

Insider Activity at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $19.28, for a total transaction of $96,400.00. Following the sale, the director owned 90,477 shares of the company's stock, valued at approximately $1,744,396.56. This trade represents a 5.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.08% of the company's stock.

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.

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