Jefferies Financial Group Inc. Takes Position in Fulton Financial Corporation $FULT

Jefferies Financial Group Inc. purchased a new position in shares of Fulton Financial Corporation (NASDAQ:FULT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,366 shares of the bank’s stock, valued at approximately $517,000.

Several other hedge funds have also recently modified their holdings of FULT. Norges Bank purchased a new position in Fulton Financial during the 4th quarter worth $44,271,000. First Trust Advisors LP boosted its holdings in shares of Fulton Financial by 31.2% in the first quarter. First Trust Advisors LP now owns 8,050,923 shares of the bank’s stock valued at $163,756,000 after acquiring an additional 1,912,709 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Fulton Financial by 132.4% during the first quarter. Bank of America Corp DE now owns 1,576,996 shares of the bank’s stock worth $32,076,000 after acquiring an additional 898,435 shares during the period. Deutsche Bank AG acquired a new position in shares of Fulton Financial during the second quarter worth about $4,899,000. Finally, UBS Group AG raised its holdings in Fulton Financial by 78.0% during the fourth quarter. UBS Group AG now owns 666,449 shares of the bank’s stock worth $12,882,000 after purchasing an additional 291,975 shares in the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Stock Down 0.9%

Shares of NASDAQ FULT opened at $23.46 on Tuesday. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 11.22 and a beta of 0.79. Fulton Financial Corporation has a 52 week low of $16.60 and a 52 week high of $25.23. The firm has a 50-day moving average price of $24.23 and a 200 day moving average price of $22.33. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.15.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Wednesday, July 22nd. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.07. Fulton Financial had a net margin of 20.63% and a return on equity of 12.68%. The company had revenue of $367.87 million for the quarter, compared to analyst estimates of $358.83 million. During the same period in the prior year, the business posted $0.55 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities research analysts anticipate that Fulton Financial Corporation will post 2.23 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a $0.19 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.2%. Fulton Financial’s dividend payout ratio (DPR) is currently 36.36%.

Insiders Place Their Bets

In other Fulton Financial news, Director Lisa Crutchfield sold 4,100 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $24.80, for a total value of $101,680.00. Following the sale, the director owned 7,838 shares of the company’s stock, valued at $194,382.40. This represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $24.14, for a total transaction of $120,700.00. Following the completion of the sale, the director directly owned 75,477 shares in the company, valued at $1,822,014.78. This trade represents a 6.21% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FULT. Weiss Ratings restated a “buy (b)” rating on shares of Fulton Financial in a research report on Wednesday, July 29th. Wall Street Zen raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Raymond James Financial raised their price target on Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Piper Sandler restated a “neutral” rating and issued a $27.00 price target (up from $23.00) on shares of Fulton Financial in a research note on Monday, August 3rd. Finally, DA Davidson lifted their price target on Fulton Financial from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Fulton Financial has a consensus rating of “Hold” and a consensus price target of $24.75.

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.