Rhino Investment Partners Inc boosted its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 105.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 840,319 shares of the bank's stock after buying an additional 431,305 shares during the quarter. Fulton Financial accounts for about 4.8% of Rhino Investment Partners Inc's portfolio, making the stock its 6th largest holding. Rhino Investment Partners Inc owned about 0.44% of Fulton Financial worth $17,092,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Kestra Advisory Services LLC acquired a new stake in shares of Fulton Financial in the fourth quarter worth $25,000. Root Financial Partners LLC lifted its position in Fulton Financial by 89.9% during the first quarter. Root Financial Partners LLC now owns 1,282 shares of the bank's stock valued at $26,000 after purchasing an additional 607 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in Fulton Financial in the fourth quarter valued at $27,000. V Square Quantitative Management LLC purchased a new stake in Fulton Financial in the fourth quarter valued at $28,000. Finally, Torren Management LLC acquired a new stake in Fulton Financial during the 4th quarter worth about $28,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.
Fulton Financial Stock Up 1.1%
FULT stock opened at $24.68 on Wednesday. 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's fifty day moving average is $23.27 and its 200 day moving average is $21.75. The firm has a market cap of $4.72 billion, a PE ratio of 11.81 and a beta of 0.79.
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 3.1%. Fulton Financial's dividend payout ratio (DPR) is 36.36%.
Insider Activity at Fulton Financial
In related news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $24.14, for a total value of $120,700.00. Following the completion of the transaction, the director owned 75,477 shares in the company, valued at $1,822,014.78. The trade was a 6.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.01% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. Weiss Ratings upgraded Fulton Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 1st. Raymond James Financial upped their target price on Fulton Financial from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. DA Davidson raised their target price on Fulton Financial from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Piper Sandler set a $23.00 price target on Fulton Financial and gave the company a "neutral" rating in a research report on Friday, June 12th. Finally, Wall Street Zen raised Fulton Financial from a "sell" rating to a "hold" rating in a report on Saturday. 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 an average rating of "Hold" and an average target price of $23.75.
Read Our Latest Research Report on Fulton Financial
Fulton Financial Company 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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