Y Intercept Hong Kong Ltd Buys 40,997 Shares of Fulton Financial Corporation (NASDAQ:FULT)

Key Points

• Y Intercept Hong Kong Ltd increased its stake in Fulton Financial Corporation by 369.9%, acquiring an additional 40,997 shares and holding a total of 52,080 shares worth approximately $942,000.
• Vanguard Group and other institutional investors have also increased their stakes in Fulton Financial, with hedge funds collectively owning 72.02% of the company's stock.
• Fulton Financial reported a quarterly earnings per share of $0.55, surpassing analyst expectations, and announced a quarterly dividend of $0.18, reflecting a yield of 3.87%.

Y Intercept Hong Kong Ltd boosted its stake in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 369.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,080 shares of the bank's stock after acquiring an additional 40,997 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Fulton Financial were worth $942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of FULT. Raymond James Financial Inc. purchased a new stake in Fulton Financial during the 4th quarter valued at about $1,676,000. Xponance Inc. boosted its holdings in Fulton Financial by 9.5% during the 4th quarter. Xponance Inc. now owns 13,058 shares of the bank's stock valued at $252,000 after acquiring an additional 1,132 shares during the period. Sei Investments Co. boosted its holdings in Fulton Financial by 43.2% during the 4th quarter. Sei Investments Co. now owns 17,315 shares of the bank's stock valued at $334,000 after acquiring an additional 5,225 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Fulton Financial during the 4th quarter valued at about $698,000. Finally, LPL Financial LLC purchased a new stake in Fulton Financial during the 4th quarter valued at about $289,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FULT has been the subject of several research analyst reports. DA Davidson increased their price objective on Fulton Financial from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Jefferies Financial Group reiterated a "hold" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Piper Sandler reiterated a "neutral" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods increased their price objective on Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $21.13.

Fulton Financial Stock Down 0.3%

Shares of FULT traded down $0.06 on Tuesday, reaching $18.57. The stock had a trading volume of 157,754 shares, compared to its average volume of 1,426,399. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 10.87 and a beta of 0.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 0.89. The company has a 50-day simple moving average of $18.11 and a 200-day simple moving average of $18.31. Fulton Financial Corporation has a 12-month low of $14.32 and a 12-month high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.12. The company had revenue of $328.45 million during the quarter, compared to analysts' expectations of $320.47 million. Fulton Financial had a return on equity of 12.44% and a net margin of 17.00%. During the same quarter last year, the business posted $0.52 EPS. Sell-side analysts predict that Fulton Financial Corporation will post 1.91 EPS for the current year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date was Tuesday, July 1st. Fulton Financial's payout ratio is presently 42.11%.

Insider Activity at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $18.41, for a total value of $92,050.00. Following the completion of the transaction, the director owned 599,102 shares in the company, valued at $11,029,467.82. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.07% of the stock is currently owned by insiders.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.