Hsbc Holdings PLC increased its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 68.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,359 shares of the bank's stock after purchasing an additional 45,802 shares during the period. Hsbc Holdings PLC owned 0.06% of Fulton Financial worth $2,726,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Fulton Financial in the 2nd quarter worth approximately $676,732,000. Dimensional Fund Advisors LP increased its holdings in Fulton Financial by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,177,001 shares of the bank's stock worth $227,333,000 after purchasing an additional 87,813 shares during the last quarter. First Trust Advisors LP raised its position in shares of Fulton Financial by 31.2% in the 1st quarter. First Trust Advisors LP now owns 8,050,923 shares of the bank's stock valued at $163,756,000 after purchasing an additional 1,912,709 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Fulton Financial by 29.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,590,883 shares of the bank's stock valued at $88,743,000 after buying an additional 1,054,321 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Fulton Financial by 219.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,822,385 shares of the bank's stock valued at $54,557,000 after acquiring an additional 1,939,260 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on FULT. Weiss Ratings restated a "buy (b)" rating on shares of Fulton Financial in a research note on Wednesday, July 29th. Raymond James Financial boosted their price target on Fulton Financial from $24.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. Piper Sandler restated a "neutral" rating and set a $27.00 price objective (up from $23.00) on shares of Fulton Financial in a research note on Monday, August 3rd. DA Davidson increased their target price on shares of Fulton Financial from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Finally, Wall Street Zen upgraded shares of Fulton Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $24.75.
Read Our Latest Stock Report on FULT
Fulton Financial Stock Performance
Shares of Fulton Financial stock opened at $23.60 on Friday. Fulton Financial Corporation has a fifty-two week low of $16.60 and a fifty-two week high of $25.23. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $24.15 and a 200-day simple moving average of $22.43. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 11.29 and a beta of 0.78.
Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.07. Fulton Financial had a return on equity of 12.68% and a net margin of 20.63%.The company had revenue of $367.87 million during the quarter, compared to the consensus estimate of $358.83 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The company's quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities analysts forecast that Fulton Financial Corporation will post 2.23 EPS for the current fiscal year.
Fulton Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, July 1st. Fulton Financial's dividend payout ratio is 36.36%.
Insider Activity at Fulton Financial
In other Fulton Financial news, Director Lisa Crutchfield sold 4,100 shares of the 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 completion of the sale, the director owned 7,838 shares in the company, valued at $194,382.40. This represents a 34.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director E. Wenger sold 5,000 shares of Fulton Financial stock in a transaction on Monday, July 13th. The shares were sold at an average price of $24.14, for a total transaction of $120,700.00. Following the sale, the director directly owned 75,477 shares of the company's stock, valued at $1,822,014.78. This trade represents a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.01% of the company's stock.
About Fulton Financial
(
Free Report)
Fulton Financial Corporation NASDAQ: FULT is a bank holding company headquartered in Lancaster, Pennsylvania. Its primary subsidiary, Fulton Bank, provides banking and financial services to consumers, businesses and institutions.
The company offers deposit accounts, residential and commercial lending, mortgages, treasury management, cash management and other commercial banking services. Through its broader financial services platform, Fulton also provides wealth management, investment services and insurance solutions.
Fulton serves customers through branches and digital channels across Pennsylvania, Delaware, Maryland, New Jersey and Virginia.
See Also
Want to see what other hedge funds are holding FULT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fulton Financial Corporation (NASDAQ:FULT - Free Report).
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