Fulton Bank N.A. Sells 21,500 Shares of Fulton Financial Corporation $FULT

Fulton Bank N.A. lowered its position in Fulton Financial Corporation (NASDAQ:FULT) by 1.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,179,778 shares of the bank’s stock after selling 21,500 shares during the period. Fulton Financial accounts for 0.8% of Fulton Bank N.A.’s portfolio, making the stock its 28th largest holding. Fulton Bank N.A. owned 0.66% of Fulton Financial worth $23,997,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FULT. Nordea Investment Management AB raised its holdings in shares of Fulton Financial by 25.2% during the 4th quarter. Nordea Investment Management AB now owns 737,737 shares of the bank’s stock valued at $14,327,000 after purchasing an additional 148,399 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Fulton Financial by 46.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 603,553 shares of the bank’s stock valued at $11,244,000 after purchasing an additional 191,764 shares during the last quarter. Norges Bank bought a new stake in Fulton Financial in the fourth quarter worth $44,271,000. Econ Financial Services Corp bought a new stake in Fulton Financial in the fourth quarter worth $2,018,000. Finally, Jefferies Financial Group Inc. bought a new stake in Fulton Financial in the fourth quarter worth $4,580,000. Institutional investors own 72.02% of the company’s stock.

Insider Buying and Selling

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of Fulton Financial 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 transaction, the director directly owned 80,477 shares of the company’s stock, valued at $1,723,817.34. The trade was a 5.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FULT shares. Weiss Ratings upgraded Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Wall Street Zen downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 3rd. 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. Finally, Raymond James Financial raised their price objective on Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.50.

Fulton Financial Stock Up 1.1%

FULT stock opened at $24.46 on Thursday. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 11.65 and a beta of 0.79. The company has a 50-day moving average of $22.14 and a two-hundred day moving average of $21.15. Fulton Financial Corporation has a 52-week low of $16.60 and a 52-week high of $24.55. 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 (NASDAQ:FULT) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.55 EPS for the quarter, topping 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 business had revenue of $331.86 million for the quarter, compared to analyst estimates of $359.36 million. During the same period in the previous year, the company posted $0.52 earnings per share. As a group, equities research analysts anticipate that Fulton Financial Corporation will post 2.18 EPS for the current year.

Fulton Financial Announces Dividend

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 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 yield of 3.1%. Fulton Financial’s dividend payout ratio (DPR) is 36.19%.

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.