Coston McIsaac & Partners Invests $54,000 in Fulton Financial Co. (NASDAQ:FULT)

Coston McIsaac & Partners bought a new stake in Fulton Financial Co. (NASDAQ:FULT) during the third quarter, Holdings Channel.com reports. The fund bought 2,980 shares of the bank’s stock, valued at approximately $54,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FULT. Private Advisor Group LLC lifted its position in Fulton Financial by 7.6% during the 3rd quarter. Private Advisor Group LLC now owns 32,656 shares of the bank’s stock worth $592,000 after acquiring an additional 2,303 shares during the period. Stewardship Advisors LLC acquired a new stake in shares of Fulton Financial in the 3rd quarter worth approximately $318,000. Blue Trust Inc. boosted its position in Fulton Financial by 28.8% during the third quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock worth $84,000 after purchasing an additional 1,106 shares in the last quarter. Good Life Advisors LLC purchased a new position in shares of Fulton Financial in the third quarter valued at $830,000. Finally, Creative Planning raised its position in shares of Fulton Financial by 26.5% during the 3rd quarter. Creative Planning now owns 33,554 shares of the bank’s stock worth $608,000 after purchasing an additional 7,039 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Stock Performance

NASDAQ:FULT traded down $0.09 during trading hours on Wednesday, reaching $17.52. 307,770 shares of the stock were exchanged, compared to its average volume of 1,464,785. The firm has a 50 day simple moving average of $18.13 and a 200-day simple moving average of $17.34. Fulton Financial Co. has a 52 week low of $11.99 and a 52 week high of $20.33. The stock has a market capitalization of $3.18 billion, a P/E ratio of 10.94 and a beta of 0.73. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.26.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. Fulton Financial had a return on equity of 11.29% and a net margin of 17.93%. The business had revenue of $487.33 million for the quarter, compared to the consensus estimate of $321.00 million. During the same quarter last year, the business posted $0.43 EPS. As a group, sell-side analysts forecast that Fulton Financial Co. will post 1.73 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently declared 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 was Tuesday, October 1st. This represents a $0.68 annualized dividend and a dividend yield of 3.88%. Fulton Financial’s payout ratio is 42.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a research note on Thursday, October 17th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, Jefferies Financial Group decreased their target price on Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Fulton Financial presently has an average rating of “Hold” and an average target price of $18.83.

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.