Janus Henderson Group PLC Reduces Stock Holdings in Fulton Financial Corporation $FULT

Key Points

• Janus Henderson cut its Fulton Financial stake by 23.4% in the first quarter, selling 415,801 shares and retaining 1.36 million shares worth about $27.7 million. Institutional investors collectively own 72.02% of the bank.
• Fulton Financial trades near its 52-week high at $24.33, with a market capitalization of $4.65 billion and a price-to-earnings ratio of 11.64. The company pays a quarterly dividend of $0.19, equivalent to a 3.1% annual yield.
• Analyst sentiment remains mixed, with two Buy ratings and four Hold ratings; the consensus rating is Hold and the average price target is $23.75.

Janus Henderson Group PLC lowered its stake in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 23.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,360,809 shares of the bank's stock after selling 415,801 shares during the quarter. Janus Henderson Group PLC owned approximately 0.71% of Fulton Financial worth $27,680,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Amundi boosted its holdings in shares of Fulton Financial by 54.9% in the 1st quarter. Amundi now owns 54,128 shares of the bank's stock valued at $1,101,000 after buying an additional 19,173 shares in the last quarter. California State Teachers Retirement System raised its stake in Fulton Financial by 27.7% during the 1st quarter. California State Teachers Retirement System now owns 222,216 shares of the bank's stock worth $4,520,000 after acquiring an additional 48,227 shares in the last quarter. Royal Bank of Canada raised its stake in Fulton Financial by 7.1% during the 1st quarter. Royal Bank of Canada now owns 220,896 shares of the bank's stock worth $4,494,000 after acquiring an additional 14,594 shares in the last quarter. Rhino Investment Partners Inc lifted its position in Fulton Financial by 105.4% in the first quarter. Rhino Investment Partners Inc now owns 840,319 shares of the bank's stock valued at $17,092,000 after acquiring an additional 431,305 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in Fulton Financial in the first quarter valued at $266,000. Hedge funds and other institutional investors own 72.02% of the company's stock.

Insider Buying and Selling

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director directly owned 75,477 shares of the company's stock, valued at $1,822,014.78. This represents a 6.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.01% of the stock is currently owned by corporate insiders.

Fulton Financial Stock Performance

NASDAQ FULT opened at $24.33 on Monday. The firm's fifty day moving average is $23.45 and its two-hundred day moving average is $21.85. Fulton Financial Corporation has a one year low of $16.60 and a one year high of $25.23. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $4.65 billion, a PE ratio of 11.64 and a beta of 0.79.

Fulton Financial Dividend Announcement

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

Wall Street Analyst Weigh In

FULT has been the topic of several research reports. Piper Sandler set a $23.00 price objective on Fulton Financial and gave the stock a "neutral" rating in a report on Friday, June 12th. Wall Street Zen raised Fulton Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. DA Davidson upped their target price on Fulton Financial from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Raymond James Financial raised their price target on Fulton Financial from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Fulton Financial in a research note on Wednesday. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $23.75.

Fulton Financial 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source