Wealth Enhancement Advisory Services LLC Increases Position in Fulton Financial Corporation $FULT

Wealth Enhancement Advisory Services LLC grew its stake in Fulton Financial Corporation (NASDAQ:FULT) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,594 shares of the bank’s stock after acquiring an additional 1,291 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Fulton Financial were worth $718,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its stake in Fulton Financial by 2.0% during the 1st quarter. Private Advisor Group LLC now owns 35,552 shares of the bank’s stock valued at $643,000 after purchasing an additional 704 shares during the last quarter. Xponance Inc. raised its holdings in Fulton Financial by 5.5% in the 1st quarter. Xponance Inc. now owns 13,775 shares of the bank’s stock worth $249,000 after purchasing an additional 717 shares during the period. Blue Trust Inc. raised its holdings in shares of Fulton Financial by 15.1% during the first quarter. Blue Trust Inc. now owns 5,728 shares of the bank’s stock valued at $104,000 after acquiring an additional 752 shares during the last quarter. Versor Investments LP raised its holdings in shares of Fulton Financial by 1.3% during the first quarter. Versor Investments LP now owns 60,900 shares of the bank’s stock valued at $1,102,000 after acquiring an additional 800 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Fulton Financial by 42.2% during the first quarter. GAMMA Investing LLC now owns 3,072 shares of the bank’s stock valued at $56,000 after acquiring an additional 911 shares during the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Stock Up 0.7%

Fulton Financial stock opened at $18.35 on Friday. Fulton Financial Corporation has a 1-year low of $14.32 and a 1-year high of $22.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $3.34 billion, a PE ratio of 10.73 and a beta of 0.82. The stock’s fifty day moving average is $18.82 and its two-hundred day moving average is $17.99.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.12. The company had revenue of $328.45 million for the quarter, compared to analyst estimates of $320.47 million. Fulton Financial had a return on equity of 12.64% and a net margin of 17.00%.During the same quarter last year, the company posted $0.52 earnings per share. On average, sell-side analysts expect that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.72 annualized dividend and a dividend yield of 3.9%. Fulton Financial’s dividend payout ratio (DPR) is presently 42.11%.

Insider Activity

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $19.28, for a total transaction of $96,400.00. Following the transaction, the director owned 90,477 shares of the company’s stock, valued at approximately $1,744,396.56. This trade represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FULT shares. Jefferies Financial Group restated a “hold” rating on shares of Fulton Financial in a research report on Wednesday, July 9th. DA Davidson increased their price objective on Fulton Financial from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fulton Financial in a research report on Saturday, September 27th. Keefe, Bruyette & Woods upped their price target on Fulton Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Thursday, July 17th. Finally, Piper Sandler restated a “neutral” rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Fulton Financial currently has an average rating of “Hold” and an average price target of $21.13.

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.