Fulton Financial Corporation $FULT Shares Acquired by UBS Group AG

Key Points

• UBS Group AG significantly boosted its stake in Fulton Financial, increasing holdings by 78% in the fourth quarter to 666,449 shares, worth about $12.9 million. Institutional investors now own roughly 72% of the bank.
• Fulton Financial reported better-than-expected earnings for the latest quarter, posting $0.55 per share versus the $0.50 consensus estimate. However, revenue came in below expectations at $331.86 million.
• The stock also offers a dividend yield of about 3.6%, with a quarterly payout of $0.19 per share. Recent analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $23.00.

UBS Group AG lifted its position in Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 78.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 666,449 shares of the bank's stock after purchasing an additional 291,975 shares during the period. UBS Group AG owned about 0.37% of Fulton Financial worth $12,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Fulton Financial in the fourth quarter worth about $28,000. EverSource Wealth Advisors LLC raised its holdings in Fulton Financial by 373.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the bank's stock worth $30,000 after purchasing an additional 1,311 shares during the period. State of Wyoming purchased a new position in Fulton Financial during the second quarter worth approximately $30,000. Parallel Advisors LLC grew its holdings in Fulton Financial by 69.0% in the third quarter. Parallel Advisors LLC now owns 1,903 shares of the bank's stock valued at $35,000 after purchasing an additional 777 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in Fulton Financial by 48.0% in the third quarter. Jones Financial Companies Lllp now owns 1,995 shares of the bank's stock valued at $38,000 after purchasing an additional 647 shares during the period. Institutional investors and hedge funds own 72.02% of the company's stock.

Fulton Financial Trading Up 1.6%

Shares of FULT opened at $21.01 on Friday. Fulton Financial Corporation has a 52-week low of $16.60 and a 52-week high of $22.99. The stock has a market cap of $4.02 billion, a PE ratio of 10.00 and a beta of 0.81. The firm's fifty day moving average is $20.82 and its two-hundred day moving average is $20.10. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.06.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. Fulton Financial had a net margin of 20.85% and a return on equity of 12.69%. The firm had revenue of $331.86 million for the quarter, compared to the consensus estimate of $359.36 million. During the same period last year, the firm posted $0.52 earnings per share. Research analysts forecast that Fulton Financial Corporation will post 2.17 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, April 1st. Fulton Financial's dividend payout ratio (DPR) is currently 36.19%.

Insider Buying and Selling

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the business's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $21.42, for a total transaction of $107,100.00. Following the transaction, the director owned 80,477 shares of the company's stock, valued at approximately $1,723,817.34. The trade was a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

FULT has been the topic of a number of recent analyst reports. DA Davidson started coverage on Fulton Financial in a research report on Wednesday, February 25th. They set a "neutral" rating and a $24.00 target price on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $24.00 price objective on shares of Fulton Financial in a report on Monday, April 27th. Wall Street Zen lowered shares of Fulton Financial from a "hold" rating to a "sell" rating in a research report on Sunday, May 3rd. Finally, Weiss Ratings upgraded shares of Fulton Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Fulton Financial has a consensus rating of "Hold" and an average target price of $23.00.

Fulton Financial Company 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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