SRS Capital Advisors Inc. Decreases Holdings in Fulton Financial Co. (NASDAQ:FULT)

SRS Capital Advisors Inc. lessened its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 3.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 90,267 shares of the bank’s stock after selling 3,499 shares during the period. SRS Capital Advisors Inc.’s holdings in Fulton Financial were worth $1,533,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FULT. Vanguard Group Inc. boosted its position in 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 purchasing an additional 216,465 shares during the period. Dimensional Fund Advisors LP boosted its position in Fulton Financial by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock worth $196,188,000 after purchasing an additional 297,923 shares during the period. Hsbc Holdings PLC boosted its position in Fulton Financial by 36.0% during the fourth quarter. Hsbc Holdings PLC now owns 2,593,793 shares of the bank’s stock worth $43,043,000 after purchasing an additional 686,269 shares during the period. Bank of New York Mellon Corp boosted its position in Fulton Financial by 28.8% during the second quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank’s stock worth $43,164,000 after purchasing an additional 567,771 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Fulton Financial by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,062,343 shares of the bank’s stock worth $33,946,000 after purchasing an additional 100,902 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group cut their target price on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.40.

Fulton Financial Price Performance

Shares of FULT stock traded down $0.45 during trading hours on Friday, reaching $17.96. The stock had a trading volume of 901,757 shares, compared to its average volume of 1,451,815. The stock’s fifty day simple moving average is $18.26 and its 200 day simple moving average is $16.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. Fulton Financial Co. has a 12 month low of $11.63 and a 12 month high of $20.33. The firm has a market capitalization of $3.26 billion, a PE ratio of 11.16 and a beta of 0.75.

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. Fulton Financial had a net margin of 17.93% and a return on equity of 11.29%. The company had revenue of $334.71 million during the quarter, compared to analyst estimates of $296.38 million. During the same period last year, the business earned $0.47 earnings per share. Fulton Financial’s revenue was up 22.4% compared to the same quarter last year. On average, equities research analysts predict that Fulton Financial Co. will post 1.73 EPS for the current year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a dividend of $0.17 per share. The ex-dividend date was Monday, July 1st. This represents a $0.68 annualized dividend and a yield of 3.79%. Fulton Financial’s payout ratio is presently 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.