Hsbc Holdings PLC Purchases 26,266 Shares of Fulton Financial Corporation $FULT

Hsbc Holdings PLC boosted its position in Fulton Financial Corporation (NASDAQ:FULT) by 65.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,557 shares of the bank’s stock after purchasing an additional 26,266 shares during the period. Hsbc Holdings PLC’s holdings in Fulton Financial were worth $1,350,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in shares of Fulton Financial by 4.9% during the first quarter. Royal Bank of Canada now owns 220,706 shares of the bank’s stock worth $3,992,000 after purchasing an additional 10,242 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Fulton Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,096 shares of the bank’s stock valued at $1,955,000 after buying an additional 4,727 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Fulton Financial by 5.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 448,832 shares of the bank’s stock valued at $8,119,000 after buying an additional 21,596 shares during the last quarter. Jane Street Group LLC boosted its position in Fulton Financial by 914.9% during the 1st quarter. Jane Street Group LLC now owns 308,243 shares of the bank’s stock worth $5,576,000 after buying an additional 277,871 shares during the period. Finally, Strs Ohio acquired a new stake in Fulton Financial during the 1st quarter worth approximately $152,000. 72.02% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $24.14, for a total value of $120,700.00. Following the transaction, the director owned 75,477 shares in the company, valued at approximately $1,822,014.78. The trade was a 6.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FULT. DA Davidson upped their price target on shares of Fulton Financial from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday. Weiss Ratings upgraded shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Saturday. Raymond James Financial boosted their price objective on shares of Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Finally, Piper Sandler set a $23.00 price objective on Fulton Financial and gave the company a “neutral” rating in a report on Friday, June 12th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.75.

Fulton Financial Price Performance

Fulton Financial stock opened at $24.40 on Tuesday. The stock’s 50 day moving average is $23.19 and its 200 day moving average is $21.71. Fulton Financial Corporation has a one year low of $16.60 and a one year high of $25.23. The firm has a market cap of $4.66 billion, a P/E ratio of 11.67 and a beta of 0.79. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.90 and a quick ratio of 0.90.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.76 annualized dividend and a yield of 3.1%. Fulton Financial’s dividend payout ratio (DPR) is presently 36.36%.

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.