Xponance Inc. Acquires 717 Shares of Fulton Financial Corporation (NASDAQ:FULT)

Xponance Inc. grew its holdings in Fulton Financial Corporation (NASDAQ:FULT) by 5.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,775 shares of the bank’s stock after purchasing an additional 717 shares during the period. Xponance Inc.’s holdings in Fulton Financial were worth $249,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Proficio Capital Partners LLC bought a new stake in Fulton Financial during the 4th quarter worth $279,000. Raymond James Financial Inc. bought a new stake in Fulton Financial during the 4th quarter worth $1,676,000. HighTower Advisors LLC grew its position in Fulton Financial by 1.4% during the 4th quarter. HighTower Advisors LLC now owns 63,321 shares of the bank’s stock worth $1,221,000 after acquiring an additional 849 shares during the last quarter. Swiss National Bank grew its position in Fulton Financial by 0.8% during the 4th quarter. Swiss National Bank now owns 357,800 shares of the bank’s stock worth $6,898,000 after acquiring an additional 2,900 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in Fulton Financial by 7.7% during the 4th quarter. Natixis Advisors LLC now owns 41,721 shares of the bank’s stock worth $804,000 after acquiring an additional 2,990 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.

Analyst Upgrades and Downgrades

FULT has been the topic of a number of research reports. Jefferies Financial Group restated a “hold” rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Piper Sandler restated a “neutral” rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods boosted their price objective on Fulton Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, DA Davidson lifted their target price on Fulton Financial from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.13.

Fulton Financial Stock Down 0.6%

Shares of FULT opened at $19.62 on Friday. The company has a market capitalization of $3.57 billion, a PE ratio of 11.47 and a beta of 0.77. Fulton Financial Corporation has a 12 month low of $14.33 and a 12 month high of $22.49. The stock’s 50-day moving average price is $18.02 and its two-hundred day moving average price is $18.33. The company has a current ratio of 0.89, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.43 by $0.12. The firm had revenue of $328.45 million for the quarter, compared to the consensus estimate of $320.47 million. Fulton Financial had a return on equity of 12.44% and a net margin of 17.00%. During the same period in the previous year, the business earned $0.52 EPS. On average, analysts anticipate that Fulton Financial Corporation will post 1.91 EPS for the current year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Tuesday, July 1st. Fulton Financial’s dividend payout ratio is 42.11%.

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.