American International Group Inc. grew its holdings in shares of Fulton Financial Corp (NASDAQ:FULT) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,777 shares of the bank’s stock after buying an additional 6,022 shares during the quarter. American International Group Inc. owned approximately 0.27% of Fulton Financial worth $7,805,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Arizona State Retirement System raised its holdings in shares of Fulton Financial by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 122,022 shares of the bank’s stock valued at $2,013,000 after purchasing an additional 3,471 shares during the period. Tower Bridge Advisors raised its holdings in shares of Fulton Financial by 29.2% in the 3rd quarter. Tower Bridge Advisors now owns 15,785 shares of the bank’s stock valued at $263,000 after purchasing an additional 3,563 shares during the period. Glen Harbor Capital Management LLC raised its holdings in shares of Fulton Financial by 29.9% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 16,256 shares of the bank’s stock valued at $268,000 after purchasing an additional 3,744 shares during the period. Riverhead Capital Management LLC raised its holdings in shares of Fulton Financial by 29.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 17,960 shares of the bank’s stock valued at $296,000 after purchasing an additional 4,100 shares during the period. Finally, Foundry Partners LLC grew its stake in Fulton Financial by 0.3% in the 3rd quarter. Foundry Partners LLC now owns 1,347,519 shares of the bank’s stock valued at $22,436,000 after buying an additional 4,223 shares during the last quarter. 62.07% of the stock is currently owned by hedge funds and other institutional investors.
In other Fulton Financial news, insider David M. Campbell bought 6,002 shares of the firm’s stock in a transaction on Thursday, November 8th. The shares were purchased at an average price of $16.67 per share, for a total transaction of $100,053.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ernest J. Waters bought 2,000 shares of the firm’s stock in a transaction on Thursday, November 8th. The shares were acquired at an average price of $16.71 per share, for a total transaction of $33,420.00. Following the transaction, the director now owns 27,793 shares in the company, valued at $464,421.03. The disclosure for this purchase can be found here. Corporate insiders own 0.84% of the company’s stock.
Shares of FULT opened at $17.41 on Monday. Fulton Financial Corp has a 52 week low of $15.05 and a 52 week high of $19.55. The stock has a market capitalization of $3.07 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.81 and a beta of 0.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43.
Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, October 16th. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.04. Fulton Financial had a net margin of 20.45% and a return on equity of 8.89%. The firm had revenue of $214.23 million for the quarter, compared to analyst estimates of $209.72 million. During the same quarter in the prior year, the business posted $0.28 EPS. Equities analysts expect that Fulton Financial Corp will post 1.2 earnings per share for the current year.
The firm also recently announced a special dividend, which will be paid on Friday, December 14th. Shareholders of record on Monday, December 3rd will be given a dividend of $0.04 per share. This represents a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, November 30th. This is a positive change from Fulton Financial’s previous special dividend of $0.03. Fulton Financial’s dividend payout ratio is presently 44.86%.
FULT has been the topic of a number of research reports. BidaskClub lowered shares of Fulton Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Friday, October 5th. Barclays upgraded shares of Fulton Financial from an “underweight” rating to an “overweight” rating and upped their price target for the company from $18.00 to $19.00 in a research note on Wednesday, October 3rd. ValuEngine upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Fulton Financial in a research note on Wednesday, October 17th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $18.83.
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Fulton Financial Profile
Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.
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