Ameritas Investment Partners Inc. reduced its stake in shares of Fulton Financial Corp (NASDAQ:FULT) by 28.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 150,578 shares of the bank’s stock after selling 59,906 shares during the period. Ameritas Investment Partners Inc. owned approximately 0.09% of Fulton Financial Corp worth $2,687,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp boosted its position in Fulton Financial Corp by 11.7% in the fourth quarter. State Street Corp now owns 8,065,027 shares of the bank’s stock valued at $151,626,000 after buying an additional 845,682 shares during the period. Comerica Bank boosted its position in Fulton Financial Corp by 34.8% in the fourth quarter. Comerica Bank now owns 204,714 shares of the bank’s stock valued at $3,849,000 after buying an additional 52,893 shares during the period. Wesbanco Bank Inc. boosted its position in Fulton Financial Corp by 27.8% in the fourth quarter. Wesbanco Bank Inc. now owns 74,745 shares of the bank’s stock valued at $1,405,000 after buying an additional 16,264 shares during the period. Russell Investments Group Ltd. acquired a new position in Fulton Financial Corp during the fourth quarter valued at about $7,648,000. Finally, Boston Private Wealth LLC boosted its position in Fulton Financial Corp by 23.9% in the third quarter. Boston Private Wealth LLC now owns 22,076 shares of the bank’s stock valued at $321,000 after buying an additional 4,260 shares during the period. 58.70% of the stock is currently owned by institutional investors and hedge funds.
Fulton Financial Corp (NASDAQ:FULT) opened at 17.70 on Wednesday. The company has a 50-day moving average price of $17.98 and a 200 day moving average price of $18.28. Fulton Financial Corp has a 52-week low of $12.66 and a 52-week high of $19.75. The company has a market capitalization of $3.09 billion, a PE ratio of 18.44 and a beta of 1.10.
Fulton Financial Corp (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, April 18th. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Fulton Financial Corp had a net margin of 20.37% and a return on equity of 7.67%. The business had revenue of $183.15 million for the quarter, compared to analyst estimates of $184.36 million. During the same period in the previous year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Fulton Financial Corp will post $1.07 earnings per share for the current year.
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Several research firms recently issued reports on FULT. Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Fulton Financial Corp in a research report on Friday, May 5th. Barclays PLC reaffirmed a “sell” rating and issued a $18.00 price objective (up from $17.00) on shares of Fulton Financial Corp in a research report on Friday, April 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Fulton Financial Corp in a research report on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $18.50.
In other Fulton Financial Corp news, EVP Meg R. Mueller sold 3,266 shares of Fulton Financial Corp stock in a transaction on Monday, April 24th. The shares were sold at an average price of $18.90, for a total value of $61,727.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.75% of the stock is currently owned by insiders.
About Fulton Financial Corp
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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