Fulton Financial Co. (NASDAQ:FULT) Shares Acquired by Emerald Advisers LLC

Emerald Advisers LLC grew its position in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 213.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,307,559 shares of the bank's stock after buying an additional 890,630 shares during the quarter. Emerald Advisers LLC owned 0.72% of Fulton Financial worth $23,706,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Millennium Management LLC lifted its holdings in shares of Fulton Financial by 511.1% in the 2nd quarter. Millennium Management LLC now owns 3,256,000 shares of the bank's stock worth $55,287,000 after buying an additional 2,723,170 shares during the period. American Century Companies Inc. lifted its holdings in shares of Fulton Financial by 18.6% in the 2nd quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank's stock worth $51,323,000 after buying an additional 474,099 shares during the period. Bank of New York Mellon Corp raised its position in shares of Fulton Financial by 28.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank's stock worth $43,164,000 after acquiring an additional 567,771 shares in the last quarter. Fulton Bank N.A. raised its position in shares of Fulton Financial by 0.9% in the 2nd quarter. Fulton Bank N.A. now owns 2,057,813 shares of the bank's stock worth $34,942,000 after acquiring an additional 17,955 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Fulton Financial by 6.4% in the 2nd quarter. Principal Financial Group Inc. now owns 1,008,894 shares of the bank's stock worth $17,131,000 after acquiring an additional 60,575 shares in the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Stock Down 0.3 %

NASDAQ:FULT traded down $0.05 during mid-day trading on Friday, hitting $18.06. 893,600 shares of the company's stock traded hands, compared to its average volume of 1,605,818. The company has a fifty day moving average of $18.10 and a 200 day moving average of $17.49. Fulton Financial Co. has a twelve month low of $13.19 and a twelve month high of $20.33. The company has a market capitalization of $3.29 billion, a P/E ratio of 11.43 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. Fulton Financial had a return on equity of 11.14% and a net margin of 16.37%. The company had revenue of $487.33 million for the quarter, compared to analyst estimates of $321.00 million. During the same period in the prior year, the company posted $0.43 EPS. On average, analysts forecast that Fulton Financial Co. will post 1.75 EPS for the current year.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Tuesday, October 1st. Fulton Financial's dividend payout ratio is presently 43.04%.

Wall Street Analyst Weigh In

FULT has been the subject of several recent research reports. StockNews.com raised Fulton Financial from a "sell" rating to a "hold" rating in a research report on Thursday, July 18th. Piper Sandler set a $21.00 price target on Fulton Financial in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $18.83.

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.