Fulton Financial Corporation $FULT Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its Fulton Financial stake by 3,174.6% in the first quarter, ending with 47,908 shares valued at approximately $974,000. Institutional investors collectively own 72.02% of Fulton Financial.
• Fulton Financial shares opened at $24.57, near their 52-week high of $25.23, with a $4.70 billion market capitalization. The company pays a quarterly dividend of $0.19, equivalent to a 3.1% annual yield.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $23.50, although Raymond James raised its target to $26 and rated the stock “Outperform.”

Fifth Third Bancorp lifted its position in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 3,174.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 47,908 shares of the bank's stock after purchasing an additional 46,445 shares during the quarter. Fifth Third Bancorp's holdings in Fulton Financial were worth $974,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Kestra Advisory Services LLC acquired a new position in Fulton Financial during the fourth quarter valued at approximately $25,000. Root Financial Partners LLC increased its position in shares of Fulton Financial by 89.9% in the first quarter. Root Financial Partners LLC now owns 1,282 shares of the bank's stock worth $26,000 after acquiring an additional 607 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Fulton Financial in the fourth quarter worth $27,000. V Square Quantitative Management LLC purchased a new position in shares of Fulton Financial in the 4th quarter valued at $28,000. Finally, Torren Management LLC purchased a new position in shares of Fulton Financial in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 72.02% of the company's stock.

Insiders Place Their Bets

In other news, Director E Philip Wenger sold 5,000 shares of the firm's stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.01% of the stock is currently owned by insiders.

Fulton Financial Stock Performance

NASDAQ FULT opened at $24.57 on Monday. The stock has a market cap of $4.70 billion, a P/E ratio of 11.76 and a beta of 0.79. The company's fifty day simple moving average is $23.12 and its 200-day simple moving average is $21.68. 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 Corporation has a 52 week low of $16.60 and a 52 week high of $25.23.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Fulton Financial's dividend payout ratio is presently 36.36%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FULT shares. Raymond James Financial upped their price target on shares of Fulton Financial from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Piper Sandler set a $23.00 price objective on Fulton Financial and gave the company a "neutral" rating in a research report on Friday, June 12th. Wall Street Zen raised Fulton Financial from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Weiss Ratings upgraded Fulton Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Fulton Financial has a consensus rating of "Hold" and an average price target of $23.50.

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.

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