Maltese Capital Management LLC acquired a new position in shares of Fulton Financial Corp (NASDAQ:FULT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 205,060 shares of the bank’s stock, valued at approximately $3,383,000.
Other large investors also recently modified their holdings of the company. Zeke Capital Advisors LLC grew its holdings in Fulton Financial by 32.2% during the 1st quarter. Zeke Capital Advisors LLC now owns 14,088 shares of the bank’s stock worth $250,000 after acquiring an additional 3,431 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Fulton Financial in the 1st quarter valued at about $297,000. A.R.T. Advisors LLC bought a new position in shares of Fulton Financial in the 1st quarter valued at about $331,000. Evermay Wealth Management LLC bought a new position in shares of Fulton Financial in the 1st quarter valued at about $379,000. Finally, Adviser Investments LLC bought a new position in shares of Fulton Financial in the 2nd quarter valued at about $380,000. 63.40% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on FULT shares. Hovde Group reaffirmed a “hold” rating and issued a $18.00 target price on shares of Fulton Financial in a research note on Monday, April 23rd. Boenning Scattergood reaffirmed a “hold” rating on shares of Fulton Financial in a research note on Friday, June 1st. BidaskClub lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, June 6th. Piper Jaffray Companies raised shares of Fulton Financial from a “neutral” rating to an “overweight” rating and raised their target price for the company from $18.50 to $19.00 in a research note on Thursday, July 19th. Finally, Zacks Investment Research lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Friday, June 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $18.43.
Shares of NASDAQ FULT opened at $18.05 on Tuesday. The stock has a market capitalization of $3.18 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 1.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 0.97. Fulton Financial Corp has a 1 year low of $15.05 and a 1 year high of $19.55.
Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, July 17th. The bank reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.07. The company had revenue of $208.12 million for the quarter, compared to analyst estimates of $208.67 million. Fulton Financial had a net margin of 19.05% and a return on equity of 8.20%. During the same quarter last year, the firm earned $0.26 EPS. analysts expect that Fulton Financial Corp will post 1.15 EPS for the current year.
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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