Emerald Mutual Fund Advisers Trust Purchases New Holdings in Fulton Financial Co. (NASDAQ:FULT)

Emerald Mutual Fund Advisers Trust acquired a new position in shares of Fulton Financial Co. (NASDAQ:FULT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 231,539 shares of the bank’s stock, valued at approximately $3,932,000. Emerald Mutual Fund Advisers Trust owned approximately 0.13% of Fulton Financial as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Fulton Financial during the fourth quarter valued at $27,805,000. Hsbc Holdings PLC boosted its stake in shares of Fulton Financial by 36.0% in the 4th quarter. Hsbc Holdings PLC now owns 2,593,793 shares of the bank’s stock valued at $43,043,000 after purchasing an additional 686,269 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Fulton Financial by 28.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank’s stock valued at $43,164,000 after purchasing an additional 567,771 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Fulton Financial by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock worth $196,188,000 after buying an additional 297,923 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Fulton Financial by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock worth $320,061,000 after buying an additional 216,465 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors.

Fulton Financial Stock Down 2.4 %

Shares of NASDAQ:FULT opened at $17.96 on Friday. The company has a 50 day moving average price of $18.26 and a two-hundred day moving average price of $16.77. The company has a market capitalization of $3.26 billion, a PE ratio of 11.16 and a beta of 0.74. Fulton Financial Co. has a 52 week low of $11.63 and a 52 week high of $20.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 0.93.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, July 16th. The bank reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.22. The business had revenue of $334.71 million during the quarter, compared to analysts’ expectations of $296.38 million. Fulton Financial had a net margin of 17.93% and a return on equity of 11.29%. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. Analysts forecast that Fulton Financial Co. will post 1.73 earnings per share for the current year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Monday, July 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 42.24%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FULT. Jefferies Financial Group reduced their price objective on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $18.40.

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.