Ruffer LLP Acquires Shares of 158,786 Fulton Financial Corporation $FULT

Key Points

• Ruffer LLP acquired a new stake of 158,786 shares of Fulton Financial (NASDAQ:FULT) in Q4, valued at about $3.07 million, representing roughly 0.09% ownership.
• Analysts' consensus rating is Hold with a consensus target price of $22.00 (two Buy, five Hold), though recent opinions range from Weiss Ratings upgrading to Buy to Wall Street Zen downgrading to Sell.
• Fulton pays a quarterly dividend of $0.19 (annualized $0.76) for a yield near 3.5%, and reported Q4 EPS of $0.55, beating estimates by $0.03.

Ruffer LLP acquired a new stake in Fulton Financial Corporation (NASDAQ:FULT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 158,786 shares of the bank's stock, valued at approximately $3,074,000. Ruffer LLP owned approximately 0.09% of Fulton Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FULT. Royal Bank of Canada increased its holdings in Fulton Financial by 4.9% in the first quarter. Royal Bank of Canada now owns 220,706 shares of the bank's stock valued at $3,992,000 after buying an additional 10,242 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Fulton Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,096 shares of the bank's stock valued at $1,955,000 after buying an additional 4,727 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Fulton Financial by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 448,832 shares of the bank's stock valued at $8,119,000 after buying an additional 21,596 shares in the last quarter. Jane Street Group LLC increased its holdings in Fulton Financial by 914.9% in the first quarter. Jane Street Group LLC now owns 308,243 shares of the bank's stock valued at $5,576,000 after buying an additional 277,871 shares in the last quarter. Finally, Strs Ohio purchased a new position in Fulton Financial in the first quarter valued at $152,000. Hedge funds and other institutional investors own 72.02% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FULT. Weiss Ratings raised shares of Fulton Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 27th. Wall Street Zen cut shares of Fulton Financial from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Finally, DA Davidson initiated coverage on shares of Fulton Financial in a report on Wednesday, February 25th. They issued a "neutral" rating and a $24.00 price objective for the company. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Fulton Financial has a consensus rating of "Hold" and a consensus target price of $22.00.

Insiders Place Their Bets

In related news, Director E Philip Wenger sold 5,000 shares of the business's stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $21.42, for a total transaction of $107,100.00. Following the transaction, the director directly owned 80,477 shares in the company, 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.01% of the company's stock.

Fulton Financial Stock Down 1.2%

FULT stock opened at $21.86 on Wednesday. The stock has a market capitalization of $3.93 billion, a P/E ratio of 10.51 and a beta of 0.81. The firm has a 50-day simple moving average of $20.86 and a 200-day simple moving average of $19.72. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.08. Fulton Financial Corporation has a 52 week low of $15.82 and a 52 week high of $22.99.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Wednesday, January 21st. The bank reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.03. The business had revenue of $336.02 million during the quarter, compared to analysts' expectations of $336.80 million. Fulton Financial had a net margin of 20.68% and a return on equity of 12.78%. During the same quarter in the previous year, the company earned $0.48 earnings per share. Equities analysts forecast that Fulton Financial Corporation will post 2.09 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.5%. Fulton Financial's payout ratio is currently 36.54%.

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.

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