Bank of America Corp DE grew its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 132.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,576,996 shares of the bank's stock after acquiring an additional 898,435 shares during the period. Bank of America Corp DE owned about 0.83% of Fulton Financial worth $32,076,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of FULT. Keybank National Association OH grew its stake in Fulton Financial by 1.5% during the 1st quarter. Keybank National Association OH now owns 32,887 shares of the bank's stock valued at $669,000 after purchasing an additional 485 shares in the last quarter. Cetera Investment Advisers increased its holdings in Fulton Financial by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 21,829 shares of the bank's stock worth $444,000 after purchasing an additional 557 shares during the last quarter. State of Wyoming raised its position in shares of Fulton Financial by 13.4% in the 1st quarter. State of Wyoming now owns 4,829 shares of the bank's stock valued at $98,000 after purchasing an additional 570 shares in the last quarter. Root Financial Partners LLC raised its position in shares of Fulton Financial by 89.9% in the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank's stock valued at $26,000 after purchasing an additional 607 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Fulton Financial by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 99,907 shares of the bank's stock valued at $1,930,000 after buying an additional 678 shares during the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $24.14, for a total value of $120,700.00. Following the completion of the transaction, the director directly owned 75,477 shares in the company, valued at $1,822,014.78. The trade was a 6.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lisa Crutchfield sold 4,100 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $24.80, for a total value of $101,680.00. Following the transaction, the director directly owned 7,838 shares of the company's stock, valued at $194,382.40. This trade represents a 34.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.01% of the stock is owned by corporate insiders.
Analyst Ratings Changes
FULT has been the subject of a number of recent analyst reports. DA Davidson raised their price target on shares of Fulton Financial from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Raymond James Financial upped their price target on shares of Fulton Financial from $24.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Fulton Financial in a research note on Wednesday, July 29th. Piper Sandler reissued a "neutral" rating and set a $27.00 price objective (up from $23.00) on shares of Fulton Financial in a report on Monday, August 3rd. Finally, Wall Street Zen raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Fulton Financial has a consensus rating of "Hold" and an average target price of $24.75.
View Our Latest Report on FULT
Fulton Financial Stock Performance
FULT stock opened at $24.64 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. The firm has a market cap of $4.70 billion, a P/E ratio of 11.79 and a beta of 0.79. Fulton Financial Corporation has a 12-month low of $16.60 and a 12-month high of $25.23. The stock's 50 day simple moving average is $24.02 and its 200 day simple moving average is $22.14.
Fulton Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Fulton Financial's dividend payout ratio is currently 36.36%.
Fulton Financial Company Profile
(
Free Report)
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.
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