Millennium Management LLC reduced its holdings in Fulton Financial Corp (NASDAQ:FULT) by 87.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,355 shares of the bank’s stock after selling 108,214 shares during the period. Millennium Management LLC’s holdings in Fulton Financial were worth $238,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Toronto Dominion Bank acquired a new stake in shares of Fulton Financial in the fourth quarter worth approximately $39,000. Oregon Public Employees Retirement Fund lifted its position in Fulton Financial by 1,448.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,071,618 shares of the bank’s stock worth $69,000 after buying an additional 1,002,392 shares in the last quarter. ETF Managers Group LLC lifted its position in Fulton Financial by 18.1% during the fourth quarter. ETF Managers Group LLC now owns 7,494 shares of the bank’s stock worth $116,000 after buying an additional 1,148 shares in the last quarter. Bessemer Group Inc. purchased a new position in Fulton Financial during the fourth quarter worth approximately $121,000. Finally, FDx Advisors Inc. purchased a new position in Fulton Financial during the fourth quarter worth approximately $159,000. 66.38% of the stock is currently owned by institutional investors.
In related news, insider David M. Campbell sold 5,160 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $17.00, for a total value of $87,720.00. Following the sale, the insider now owns 7,283 shares in the company, valued at approximately $123,811. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Curtis J. Myers sold 6,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $17.03, for a total value of $110,695.00. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by insiders.
FULT stock opened at $17.08 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.88 billion, a P/E ratio of 14.47, a PEG ratio of 1.53 and a beta of 1.02. Fulton Financial Corp has a 12-month low of $14.38 and a 12-month high of $18.45.
Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $0.33 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. The firm had revenue of $210.00 million for the quarter, compared to the consensus estimate of $212.93 million. Fulton Financial had a return on equity of 9.50% and a net margin of 21.95%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 EPS. On average, research analysts expect that Fulton Financial Corp will post 1.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, March 29th. This is an increase from Fulton Financial’s previous quarterly dividend of $0.12. Fulton Financial’s payout ratio is currently 44.07%.
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Fulton Financial Company 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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