Vanguard Group Inc. Sells 695,879 Shares of Fulton Financial Corporation $FULT

Key Points

• Vanguard Group trimmed its position by 695,879 shares in Q4 (a 3.2% reduction), leaving 20,826,906 shares — roughly an 11.53% stake valued at about $402.6 million.
• Fulton posted quarterly EPS of $0.55 (beating estimates by $0.05) but missed revenue expectations ($331.86M vs. $359.36M), and pays a $0.19 quarterly dividend (annualized $0.76) for a ~3.5% yield.
• Analysts are mixed with a consensus Hold rating and $23.00 price target (two Buys, five Holds), while institutional investors own roughly 72% of the company.

Vanguard Group Inc. decreased its position in Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,826,906 shares of the bank's stock after selling 695,879 shares during the quarter. Vanguard Group Inc. owned approximately 11.53% of Fulton Financial worth $402,584,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Fulton Financial in the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC boosted its position in shares of Fulton Financial by 373.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the bank's stock valued at $30,000 after acquiring an additional 1,311 shares during the period. State of Wyoming bought a new stake in shares of Fulton Financial in the second quarter valued at approximately $30,000. Parallel Advisors LLC boosted its position in shares of 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 acquiring an additional 777 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of 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 acquiring an additional 647 shares during the period. Institutional investors own 72.02% of the company's stock.

Insider Buying and Selling at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the firm's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $21.42, for a total value of $107,100.00. Following the completion of the sale, the director directly owned 80,477 shares in the company, valued at approximately $1,723,817.34. This trade represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.01% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FULT. DA Davidson began coverage on Fulton Financial in a research note on Wednesday, February 25th. They issued a "neutral" rating and a $24.00 target price for the company. Wall Street Zen lowered Fulton Financial from a "hold" rating to a "sell" rating in a research note on Sunday. Weiss Ratings upgraded Fulton Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 1st. Finally, Raymond James Financial reiterated an "outperform" rating and set a $24.00 price objective on shares of Fulton Financial in a research note on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $23.00.

Fulton Financial Stock Performance

Fulton Financial stock opened at $21.79 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a fifty day moving average price of $20.81 and a two-hundred day moving average price of $19.95. Fulton Financial Corporation has a 52-week low of $16.60 and a 52-week high of $22.99. The firm has a market capitalization of $3.92 billion, a P/E ratio of 10.38 and a beta of 0.81.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. Fulton Financial had a return on equity of 12.50% and a net margin of 20.85%.The firm had revenue of $331.86 million during the quarter, compared to analyst estimates of $359.36 million. During the same period in the prior year, the company posted $0.52 earnings per share. As a group, analysts anticipate that Fulton Financial Corporation will post 2.17 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were paid a $0.19 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.5%. Fulton Financial's dividend payout ratio (DPR) is 36.19%.

About Fulton Financial

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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