Emerald Advisers LLC Acquires Shares of 416,929 Fulton Financial Co. (NASDAQ:FULT)

Emerald Advisers LLC bought a new position in shares of Fulton Financial Co. (NASDAQ:FULT) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 416,929 shares of the bank’s stock, valued at approximately $7,079,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Miller Howard Investments Inc. NY lifted its holdings in Fulton Financial by 2.4% during the second quarter. Miller Howard Investments Inc. NY now owns 22,132 shares of the bank’s stock worth $376,000 after acquiring an additional 527 shares during the period. CIBC Asset Management Inc raised its stake in shares of Fulton Financial by 3.7% during the 2nd quarter. CIBC Asset Management Inc now owns 16,883 shares of the bank’s stock worth $287,000 after purchasing an additional 605 shares during the period. Blue Trust Inc. raised its stake in shares of Fulton Financial by 21.9% during the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after purchasing an additional 691 shares during the period. Texas Permanent School Fund Corp boosted its holdings in shares of Fulton Financial by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 143,357 shares of the bank’s stock worth $2,278,000 after buying an additional 1,538 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Fulton Financial by 14.3% during the second quarter. Los Angeles Capital Management LLC now owns 13,966 shares of the bank’s stock valued at $237,000 after buying an additional 1,750 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Price Performance

FULT opened at $17.96 on Friday. The firm has a 50-day moving average price of $18.26 and a 200-day moving average price of $16.77. Fulton Financial Co. has a twelve month low of $11.63 and a twelve month high of $20.33. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 11.16 and a beta of 0.74.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data 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. The business had revenue of $334.71 million during the quarter, compared to analyst estimates of $296.38 million. Fulton Financial had a net margin of 17.93% and a return on equity of 11.29%. Fulton Financial’s revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 EPS. Equities analysts expect that Fulton Financial Co. will post 1.73 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were paid a dividend of $0.17 per share. The ex-dividend date was Monday, July 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.79%. Fulton Financial’s payout ratio is 42.24%.

Wall Street Analysts Forecast Growth

FULT has been the topic of a number of research analyst reports. Jefferies Financial Group dropped 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. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.40.

Fulton Financial Company 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.