37,125 Shares in Fulton Financial Corporation $FULT Bought by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new stake in Fulton Financial Corporation, purchasing 37,125 shares valued at approximately $672,000.
• Fulton Financial recently reported $0.55 earnings per share for the last quarter, surpassing analysts' expectations, with a revenue of $328.45 million.
• Fulton Financial's quarterly dividend announced was $0.18 per share, with a 3.7% annualized dividend yield and a payout ratio of 42.11%.

Dynamic Technology Lab Private Ltd bought a new stake in Fulton Financial Corporation (NASDAQ:FULT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 37,125 shares of the bank's stock, valued at approximately $672,000.

A number of other large investors also recently made changes to their positions in FULT. Quarry LP increased its holdings in shares of Fulton Financial by 1,669.6% in the 1st quarter. Quarry LP now owns 1,982 shares of the bank's stock valued at $36,000 after purchasing an additional 1,870 shares during the period. GAMMA Investing LLC increased its holdings in shares of Fulton Financial by 42.2% in the 1st quarter. GAMMA Investing LLC now owns 3,072 shares of the bank's stock valued at $56,000 after purchasing an additional 911 shares during the period. Byrne Asset Management LLC increased its holdings in shares of Fulton Financial by 114.5% in the 1st quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank's stock valued at $58,000 after purchasing an additional 1,717 shares during the period. Wealth Preservation Advisors LLC acquired a new position in shares of Fulton Financial in the 1st quarter valued at about $60,000. Finally, Blue Trust Inc. increased its holdings in Fulton Financial by 15.1% in the first quarter. Blue Trust Inc. now owns 5,728 shares of the bank's stock worth $104,000 after buying an additional 752 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company's stock.

Insider Buying and Selling at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $18.41, for a total value of $92,050.00. Following the completion of the sale, the director directly owned 599,102 shares of the company's stock, valued at approximately $11,029,467.82. This represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.08% of the company's stock.

Fulton Financial Stock Performance

Fulton Financial stock traded down $0.23 during trading hours on Monday, reaching $19.19. 135,269 shares of the company were exchanged, compared to its average volume of 1,426,192. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 11.23 and a beta of 0.85. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $18.93 and a 200 day moving average of $17.94. Fulton Financial Corporation has a 12 month low of $14.32 and a 12 month high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.12. Fulton Financial had a return on equity of 12.64% and a net margin of 17.00%.The company had revenue of $328.45 million during the quarter, compared to analysts' expectations of $320.47 million. During the same period in the prior year, the business earned $0.52 earnings per share. As a group, research analysts anticipate that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, July 1st. Fulton Financial's dividend payout ratio is currently 42.11%.

Analyst Ratings Changes

A number of research firms recently commented on FULT. Jefferies Financial Group restated a "hold" rating on shares of Fulton Financial in a report on Wednesday, July 9th. DA Davidson increased their price objective on Fulton Financial from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Piper Sandler restated a "neutral" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods increased their price objective on Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $21.13.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.