Fulton Bank N.A. Has $24 Million Stake in Fulton Financial Corporation $FULT

Fulton Bank N.A. decreased its stake in shares of Fulton Financial Corporation (NASDAQ:FULT) by 1.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,179,778 shares of the bank’s stock after selling 21,500 shares during the quarter. Fulton Financial accounts for about 0.8% of Fulton Bank N.A.’s investment portfolio, making the stock its 28th biggest position. Fulton Bank N.A.’s holdings in Fulton Financial were worth $23,997,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in FULT. Kestra Advisory Services LLC bought a new stake in shares of Fulton Financial in the fourth quarter valued at about $25,000. Eurizon Capital SGR S.p.A. acquired a new stake in Fulton Financial during the fourth quarter worth about $27,000. V Square Quantitative Management LLC bought a new position in Fulton Financial during the fourth quarter valued at about $28,000. Torren Management LLC bought a new position in Fulton Financial during the fourth quarter valued at about $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Fulton Financial in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Stock Performance

NASDAQ FULT opened at $24.46 on Thursday. The stock has a market cap of $4.68 billion, a P/E ratio of 11.65 and a beta of 0.79. The company’s 50-day simple moving average is $22.14 and its 200 day simple moving average is $21.15. Fulton Financial Corporation has a twelve month low of $16.60 and a twelve month high of $24.55. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.06.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. The firm had revenue of $331.86 million during the quarter, compared to analyst estimates of $359.36 million. Fulton Financial had a net margin of 20.85% and a return on equity of 12.69%. During the same quarter in the prior year, the business posted $0.52 earnings per share. As a group, research analysts forecast that Fulton Financial Corporation will post 2.18 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.1%. Fulton Financial’s dividend payout ratio is presently 36.19%.

Insider Activity

In other news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $21.42, for a total value of $107,100.00. Following the completion of the transaction, the director directly owned 80,477 shares of the company’s stock, valued at approximately $1,723,817.34. This represents a 5.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Piper Sandler set a $23.00 price objective on Fulton Financial and gave the stock a “neutral” rating in a research report on Friday, June 12th. Wall Street Zen cut Fulton Financial from a “hold” rating to a “sell” rating in a research report on Sunday, May 3rd. Raymond James Financial upped their target price on Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Weiss Ratings raised Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $23.50.

Fulton Financial Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.