Inspire Investing LLC Sells 1,978 Shares of Fulton Financial Co. (NASDAQ:FULT)

Inspire Investing LLC cut its holdings in Fulton Financial Co. (NASDAQ:FULT) by 8.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 20,508 shares of the bank’s stock after selling 1,978 shares during the period. Inspire Investing LLC’s holdings in Fulton Financial were worth $348,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of FULT. Seven Eight Capital LP bought a new position in Fulton Financial in the 2nd quarter valued at $485,000. Amalgamated Bank grew its position in Fulton Financial by 6.2% during the second quarter. Amalgamated Bank now owns 55,335 shares of the bank’s stock valued at $940,000 after buying an additional 3,224 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in Fulton Financial by 20.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 37,929 shares of the bank’s stock worth $644,000 after buying an additional 6,430 shares during the last quarter. Meridian Wealth Partners LLC boosted its stake in Fulton Financial by 4.7% in the second quarter. Meridian Wealth Partners LLC now owns 27,557 shares of the bank’s stock valued at $468,000 after acquiring an additional 1,230 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Fulton Financial during the 2nd quarter valued at approximately $178,000. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Price Performance

Shares of NASDAQ FULT opened at $18.03 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 0.93. Fulton Financial Co. has a fifty-two week low of $11.63 and a fifty-two week high of $20.33. The stock has a market cap of $3.28 billion, a PE ratio of 11.20 and a beta of 0.74. The stock has a fifty day moving average of $18.51 and a 200-day moving average of $17.01.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, July 16th. The bank reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.22. Fulton Financial had a return on equity of 11.29% and a net margin of 17.93%. The business had revenue of $334.71 million during the quarter, compared to analyst estimates of $296.38 million. During the same quarter in the previous year, the firm earned $0.47 EPS. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. Equities research analysts anticipate that Fulton Financial Co. will post 1.73 earnings per share for the current year.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.77%. Fulton Financial’s dividend payout ratio (DPR) is currently 42.24%.

Analyst Ratings Changes

A number of equities research analysts recently commented on FULT shares. Jefferies Financial Group dropped their price objective on Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Fulton Financial currently has a consensus rating of “Hold” and an average target price of $18.40.

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.