Inspire Investing LLC Raises Stock Position in Fulton Financial Co. (NASDAQ:FULT)

Inspire Investing LLC lifted its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 10.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,737 shares of the bank’s stock after purchasing an additional 2,229 shares during the quarter. Inspire Investing LLC’s holdings in Fulton Financial were worth $412,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in FULT. Millennium Management LLC lifted its holdings in Fulton Financial by 511.1% during the 2nd quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock worth $55,287,000 after buying an additional 2,723,170 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Fulton Financial by 710.0% during the second quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank’s stock worth $11,880,000 after acquiring an additional 613,272 shares during the period. Bank of New York Mellon Corp increased its position in shares of Fulton Financial by 28.8% during the second quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank’s stock worth $43,164,000 after acquiring an additional 567,771 shares during the period. American Century Companies Inc. raised its stake in shares of Fulton Financial by 18.6% in the second quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank’s stock valued at $51,323,000 after acquiring an additional 474,099 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Fulton Financial in the second quarter valued at $7,292,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on FULT. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Jefferies Financial Group cut their target price on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.40.

Fulton Financial Trading Down 1.2 %

NASDAQ:FULT opened at $18.43 on Friday. Fulton Financial Co. has a 1 year low of $11.99 and a 1 year high of $20.33. The stock has a market cap of $3.35 billion, a P/E ratio of 11.45 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a 50-day simple moving average of $18.10 and a 200-day simple moving average of $17.26.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Fulton Financial had a return on equity of 11.29% and a net margin of 17.93%. The firm had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. During the same period in the prior year, the company posted $0.43 earnings per share. As a group, analysts anticipate that Fulton Financial Co. will post 1.73 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 annualized dividend and a yield of 3.69%. Fulton Financial’s dividend payout ratio is currently 42.24%.

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.