Principal Financial Group Inc. lessened its stake in Fulton Financial Corporation (NASDAQ:FULT) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,841,122 shares of the bank’s stock after selling 7,947 shares during the period. Principal Financial Group Inc. owned about 1.05% of Fulton Financial Corporation worth $34,521,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Prudential Financial Inc. lifted its stake in shares of Fulton Financial Corporation by 1.2% in the third quarter. Prudential Financial Inc. now owns 909,943 shares of the bank’s stock valued at $17,061,000 after buying an additional 10,730 shares during the period. Legacy Advisors LLC bought a new position in Fulton Financial Corporation during the third quarter worth about $4,641,000. Palisade Capital Management LLC NJ lifted its stake in Fulton Financial Corporation by 1.9% during the third quarter. Palisade Capital Management LLC NJ now owns 1,249,759 shares of the bank’s stock worth $23,433,000 after purchasing an additional 23,103 shares during the period. NJ State Employees Deferred Compensation Plan bought a new position in Fulton Financial Corporation during the third quarter worth about $675,000. Finally, Crossmark Global Holdings Inc. bought a new position in Fulton Financial Corporation during the third quarter worth about $266,000. Institutional investors and hedge funds own 62.57% of the company’s stock.
A number of research analysts have commented on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $17.50 price target on shares of Fulton Financial Corporation in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Tuesday, July 25th. Piper Jaffray Companies restated a “hold” rating and set a $18.00 price target on shares of Fulton Financial Corporation in a research note on Thursday, October 19th. BidaskClub cut shares of Fulton Financial Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, ValuEngine upgraded shares of Fulton Financial Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $18.67.
Fulton Financial Corporation (NASDAQ:FULT) opened at $18.00 on Friday. Fulton Financial Corporation has a one year low of $16.45 and a one year high of $19.90. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3,117.17, a P/E ratio of 17.28 and a beta of 1.16.
Fulton Financial Corporation (NASDAQ:FULT) last posted its earnings results on Tuesday, October 17th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Fulton Financial Corporation had a net margin of 21.15% and a return on equity of 8.28%. The company had revenue of $194.19 million during the quarter, compared to analysts’ expectations of $200.00 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. Fulton Financial Corporation’s quarterly revenue was up 8.7% compared to the same quarter last year. sell-side analysts forecast that Fulton Financial Corporation will post 1.05 EPS for the current fiscal year.
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About Fulton Financial Corporation
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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