Atwater Malick LLC Grows Position in Fulton Financial Corp (NASDAQ:FULT)

Atwater Malick LLC increased its stake in shares of Fulton Financial Corp (NASDAQ:FULT) by 119.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,565 shares of the bank’s stock after buying an additional 16,079 shares during the quarter. Fulton Financial comprises 0.4% of Atwater Malick LLC’s holdings, making the stock its 27th largest position. Atwater Malick LLC’s holdings in Fulton Financial were worth $458,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank purchased a new stake in Fulton Financial in the fourth quarter valued at $39,000. Oregon Public Employees Retirement Fund raised its position in Fulton Financial by 1,448.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,071,618 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,002,392 shares during the period. ETF Managers Group LLC raised its position in Fulton Financial by 18.1% in the fourth quarter. ETF Managers Group LLC now owns 7,494 shares of the bank’s stock valued at $116,000 after purchasing an additional 1,148 shares during the period. Bessemer Group Inc. purchased a new stake in Fulton Financial in the fourth quarter valued at $121,000. Finally, Tower Research Capital LLC TRC raised its position in Fulton Financial by 223.8% in the third quarter. Tower Research Capital LLC TRC now owns 7,502 shares of the bank’s stock valued at $125,000 after purchasing an additional 5,185 shares during the period. Hedge funds and other institutional investors own 66.60% of the company’s stock.

Several equities research analysts recently issued reports on FULT shares. BidaskClub upgraded Fulton Financial from a “hold” rating to a “buy” rating in a report on Saturday, January 5th. Barclays reiterated a “buy” rating and issued a $21.00 price objective on shares of Fulton Financial in a report on Friday, January 11th. Zacks Investment Research downgraded Fulton Financial from a “buy” rating to a “hold” rating in a report on Friday, January 11th. Boenning Scattergood reiterated a “hold” rating on shares of Fulton Financial in a report on Wednesday, January 16th. Finally, Piper Jaffray Companies downgraded Fulton Financial from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $19.00 to $17.50 in a report on Thursday, January 17th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Fulton Financial currently has a consensus rating of “Hold” and an average price target of $18.88.

In other news, COO Curtis J. Myers sold 6,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $17.03, for a total transaction of $110,695.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.02% of the company’s stock.

FULT opened at $17.48 on Friday. Fulton Financial Corp has a 12 month low of $14.38 and a 12 month high of $18.45. The firm has a market cap of $2.97 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.55 and a beta of 1.02. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.46.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, April 16th. The bank reported $0.33 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. Fulton Financial had a return on equity of 9.50% and a net margin of 21.95%. The firm had revenue of $210.00 million during the quarter, compared to analysts’ expectations of $212.93 million. During the same period in the previous year, the firm posted $0.28 EPS. Fulton Financial’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts forecast that Fulton Financial Corp will post 1.39 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.97%. This is a boost from Fulton Financial’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, March 29th. Fulton Financial’s payout ratio is presently 44.07%.

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About Fulton Financial

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.

Further Reading: Analyst Ratings Trading

Institutional Ownership by Quarter for Fulton Financial (NASDAQ:FULT)

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