Ritholtz Wealth Management Buys Shares of 26,402 Fulton Financial Corporation $FULT

Ritholtz Wealth Management bought a new stake in shares of Fulton Financial Corporation (NASDAQ:FULT) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 26,402 shares of the bank’s stock, valued at approximately $537,000.

Other hedge funds have also recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new position in Fulton Financial during the 4th quarter valued at approximately $25,000. Eurizon Capital SGR S.p.A. purchased a new position in Fulton Financial during the fourth quarter valued at $27,000. Torren Management LLC bought a new stake in Fulton Financial in the fourth quarter worth $28,000. V Square Quantitative Management LLC bought a new stake in Fulton Financial in the fourth quarter worth $28,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Fulton Financial in the fourth quarter worth $28,000. 72.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Fulton Financial in a research report on Monday, April 27th. Piper Sandler set a $23.00 price objective on shares of Fulton Financial and gave the company a “neutral” rating in a research note on Friday, June 12th. Wall Street Zen cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Finally, Weiss Ratings upgraded shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $23.00.

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $21.42, for a total transaction of $107,100.00. Following the transaction, the director owned 80,477 shares in the company, valued at approximately $1,723,817.34. This represents a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.01% of the company’s stock.

Fulton Financial Stock Up 0.2%

Fulton Financial stock opened at $24.19 on Wednesday. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 11.52 and a beta of 0.80. The stock has a fifty day simple moving average of $22.09 and a two-hundred day simple moving average of $21.12. Fulton Financial Corporation has a 12 month low of $16.60 and a 12 month high of $24.43. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.06.

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

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given 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 yield of 3.1%. Fulton Financial’s payout ratio is 36.19%.

About Fulton Financial

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.