Fulton Financial Co. (NASDAQ:FULT) Position Lifted by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV raised its stake in Fulton Financial Co. (NASDAQ:FULT) by 20.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 37,929 shares of the bank’s stock after purchasing an additional 6,430 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Fulton Financial were worth $644,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FULT. YHB Investment Advisors Inc. acquired a new position in Fulton Financial in the first quarter worth about $36,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Fulton Financial in the 4th quarter worth approximately $38,000. Family Firm Inc. bought a new stake in shares of Fulton Financial in the 2nd quarter valued at approximately $46,000. Blue Trust Inc. raised 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 acquiring an additional 691 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Fulton Financial during the first quarter worth $66,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FULT. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Jefferies Financial Group dropped 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. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fulton Financial currently has a consensus rating of “Hold” and an average target price of $18.40.

Fulton Financial Stock Up 0.7 %

Fulton Financial stock opened at $17.94 on Friday. 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 Co. has a one year low of $11.63 and a one year high of $20.33. The company has a 50-day simple moving average of $18.45 and a 200-day simple moving average of $17.02. The firm has a market capitalization of $3.26 billion, a P/E ratio of 11.14 and a beta of 0.74.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, July 16th. The bank reported $0.47 EPS for the quarter, topping the consensus estimate of $0.25 by $0.22. The firm 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%. Fulton Financial’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, equities analysts expect that Fulton Financial Co. will post 1.73 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.79%. The ex-dividend date is Tuesday, October 1st. Fulton Financial’s payout ratio is currently 42.24%.

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.