Emerald Mutual Fund Advisers Trust Buys 630,152 Shares of Fulton Financial Co. (NASDAQ:FULT)

Emerald Mutual Fund Advisers Trust boosted its stake in Fulton Financial Co. (NASDAQ:FULT) by 272.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 861,691 shares of the bank’s stock after purchasing an additional 630,152 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.47% of Fulton Financial worth $15,622,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Family Firm Inc. bought a new position in shares of Fulton Financial in the second quarter valued at approximately $46,000. Coston McIsaac & Partners bought a new position in Fulton Financial in the 3rd quarter valued at $54,000. Blue Trust Inc. grew its position in shares of Fulton Financial by 21.9% during the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after purchasing an additional 691 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Fulton Financial in the first quarter worth $66,000. Finally, AE Wealth Management LLC purchased a new stake in shares of Fulton Financial in the second quarter worth $172,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on FULT shares. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Piper Sandler set a $21.00 price objective on Fulton Financial in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.83.

Fulton Financial Trading Down 0.3 %

NASDAQ FULT opened at $18.06 on Friday. The stock’s 50-day simple moving average is $18.10 and its two-hundred day simple moving average is $17.47. Fulton Financial Co. has a twelve month low of $13.19 and a twelve month high of $20.33. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 11.43 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The company had revenue of $487.33 million for the quarter, compared to analysts’ expectations of $321.00 million. Fulton Financial had a return on equity of 11.14% and a net margin of 16.37%. During the same period last year, the firm posted $0.43 EPS. Research analysts forecast that Fulton Financial Co. will post 1.75 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.77%. Fulton Financial’s dividend payout ratio (DPR) is 43.04%.

Fulton Financial 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.