Deutsche Bank AG Purchases New Shares in Fulton Financial Corporation $FULT

Key Points

• Deutsche Bank AG acquired 202,534 Fulton Financial shares worth approximately $4.9 million, giving it a 0.11% stake. Institutional investors collectively own 72.02% of the bank.
• Fulton Financial exceeded quarterly earnings expectations, reporting $0.60 EPS versus a $0.53 estimate and revenue of $367.87 million, up 12.2% year over year. The company also maintains a $0.19 quarterly dividend, equivalent to a 3.2% yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $24.75; recent targets range from $25 to $27.

Deutsche Bank AG acquired a new stake in Fulton Financial Corporation (NASDAQ:FULT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 202,534 shares of the bank's stock, valued at approximately $4,899,000. Deutsche Bank AG owned approximately 0.11% of Fulton Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Root Financial Partners LLC increased its stake 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. Kestra Advisory Services LLC purchased a new position in Fulton Financial during the fourth quarter worth approximately $25,000. Eurizon Capital SGR S.p.A. acquired a new stake in Fulton Financial in the fourth quarter valued at approximately $27,000. Axiom Investment Management LLC acquired a new stake in Fulton Financial in the first quarter valued at approximately $28,000. Finally, Torren Management LLC purchased a new stake in shares of Fulton Financial in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 72.02% of the company's stock.

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director Lisa Crutchfield sold 4,100 shares of the 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 completion of the sale, the director owned 7,838 shares in the company, valued at approximately $194,382.40. This represents a 34.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director E Philip Wenger sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $24.14, for a total transaction 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. This trade represents a 6.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.01% of the company's stock.

Fulton Financial Stock Up 0.3%

NASDAQ FULT opened at $23.66 on Wednesday. The business has a fifty day moving average price of $24.16 and a 200 day moving average price of $22.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $4.52 billion, a P/E ratio of 11.32 and a beta of 0.79. Fulton Financial Corporation has a one year low of $16.60 and a one year high of $25.23.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.60 earnings per share (EPS) 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 analysts' expectations of $358.83 million. During the same quarter in the previous year, the company posted $0.55 EPS. The firm's quarterly revenue was up 12.2% on a year-over-year basis. Research analysts anticipate that Fulton Financial Corporation will post 2.23 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on FULT shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Fulton Financial in a research note on Wednesday, July 29th. Piper Sandler reissued 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. Wall Street Zen raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. DA Davidson upped their price objective 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. Finally, Raymond James Financial increased their price objective 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. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price 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.

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