Susquehanna Fundamental Investments LLC raised its holdings in Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 218.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,350 shares of the bank's stock after buying an additional 127,863 shares during the period. Susquehanna Fundamental Investments LLC owned about 0.10% of Fulton Financial worth $4,508,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the business. Root Financial Partners LLC boosted its position in shares of Fulton Financial by 89.9% during the 1st 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. Kestra Advisory Services LLC acquired a new stake in shares of Fulton Financial during the 4th quarter worth about $25,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Fulton Financial during the 4th quarter worth about $27,000. Axiom Investment Management LLC purchased a new stake in Fulton Financial during the first quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Fulton Financial during the fourth quarter worth approximately $28,000. 72.02% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, Director Lisa Crutchfield sold 4,100 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $24.80, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director E Philip Wenger sold 5,000 shares of the firm's stock in a transaction 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 transaction, the director directly owned 75,477 shares in the company, valued at $1,822,014.78. The trade was 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 Down 0.9%
Fulton Financial stock opened at $23.46 on Tuesday. 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 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 capitalization of $4.48 billion, a P/E ratio of 11.22 and a beta of 0.79. The stock has a 50-day simple moving average of $24.23 and a 200-day simple moving average of $22.33.
Fulton Financial (NASDAQ:FULT - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.60 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $367.87 million for the quarter, compared to the consensus estimate of $358.83 million. During the same quarter last year, the business posted $0.55 EPS. The firm's quarterly revenue was up 12.2% compared to the same quarter last year. Equities research analysts expect that Fulton Financial Corporation will post 2.23 earnings per share for the current year.
Fulton Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.2%. Fulton Financial's dividend payout ratio (DPR) is 36.36%.
Analysts Set New Price Targets
Several equities analysts have commented on FULT shares. Wall Street Zen upgraded shares of Fulton Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. 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 report on Monday, August 3rd. Weiss Ratings restated a "buy (b)" rating on shares of Fulton Financial in a research report on Wednesday, July 29th. Raymond James Financial upped their target price 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. Finally, DA Davidson increased their target price on shares of Fulton Financial from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $24.75.
Read Our Latest Report on FULT
Fulton Financial Profile
(
Free Report)
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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