US Bancorp DE Purchases 1,038 Shares of Fulton Financial Co. (NASDAQ:FULT)

US Bancorp DE raised its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 62.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,694 shares of the bank’s stock after purchasing an additional 1,038 shares during the period. US Bancorp DE’s holdings in Fulton Financial were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of FULT. Raymond James & Associates grew its holdings in Fulton Financial by 12.0% during the first quarter. Raymond James & Associates now owns 49,094 shares of the bank’s stock valued at $816,000 after purchasing an additional 5,268 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Fulton Financial by 19.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,186 shares of the bank’s stock worth $485,000 after acquiring an additional 4,742 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of Fulton Financial in the first quarter worth $185,000. HighTower Advisors LLC boosted its holdings in shares of Fulton Financial by 2.0% in the first quarter. HighTower Advisors LLC now owns 59,232 shares of the bank’s stock worth $986,000 after acquiring an additional 1,142 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in shares of Fulton Financial by 2.9% in the first quarter. Private Advisor Group LLC now owns 31,259 shares of the bank’s stock worth $520,000 after acquiring an additional 887 shares during the period. 69.55% of the stock is owned by institutional investors.

Fulton Financial Price Performance

NASDAQ:FULT opened at $13.72 on Friday. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 7.98 and a beta of 0.79. Fulton Financial Co. has a 52-week low of $9.64 and a 52-week high of $18.91. The stock has a fifty day moving average of $13.18 and a 200 day moving average of $13.34. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 0.94.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Fulton Financial had a return on equity of 13.23% and a net margin of 22.57%. The business had revenue of $375.50 million for the quarter, compared to the consensus estimate of $270.30 million. During the same quarter last year, the business posted $0.42 earnings per share. On average, research analysts expect that Fulton Financial Co. will post 1.6 EPS for the current fiscal year.

Fulton Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, July 3rd were given a dividend of $0.16 per share. This is an increase from Fulton Financial’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, June 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.66%. Fulton Financial’s dividend payout ratio (DPR) is presently 37.21%.

Analyst Upgrades and Downgrades

FULT has been the subject of a number of analyst reports. Stephens reaffirmed an “overweight” rating and issued a $14.50 price target on shares of Fulton Financial in a report on Thursday, July 20th. StockNews.com began coverage on Fulton Financial in a report on Wednesday, August 23rd. They issued a “hold” rating for the company. Finally, TheStreet raised Fulton Financial from a “c+” rating to a “b-” rating in a research note on Thursday, August 3rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.60.

About Fulton Financial

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.