Rhumbline Advisers Has $9.42 Million Stake in Fulton Financial Corporation $FULT

Rhumbline Advisers decreased its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT) by 4.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 520,709 shares of the bank’s stock after selling 25,985 shares during the quarter. Rhumbline Advisers owned 0.29% of Fulton Financial worth $9,420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of FULT. Quarry LP grew its stake in Fulton Financial by 1,669.6% during the 1st quarter. Quarry LP now owns 1,982 shares of the bank’s stock valued at $36,000 after acquiring an additional 1,870 shares in the last quarter. GAMMA Investing LLC raised its position in Fulton Financial by 42.2% during the first quarter. GAMMA Investing LLC now owns 3,072 shares of the bank’s stock valued at $56,000 after acquiring an additional 911 shares in the last quarter. Byrne Asset Management LLC lifted its stake in Fulton Financial by 114.5% in the first quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank’s stock valued at $58,000 after acquiring an additional 1,717 shares during the last quarter. Wealth Preservation Advisors LLC bought a new stake in Fulton Financial in the first quarter worth $60,000. Finally, Blue Trust Inc. raised its holdings in Fulton Financial by 15.1% during the first quarter. Blue Trust Inc. now owns 5,728 shares of the bank’s stock valued at $104,000 after buying an additional 752 shares in the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction 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 sale, the director owned 599,102 shares of the company’s stock, valued at $11,029,467.82. The trade was a 0.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.08% of the stock is currently owned by corporate insiders.

Fulton Financial Stock Up 0.2%

Shares of FULT opened at $19.27 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50-day simple moving average of $18.92 and a 200-day simple moving average of $17.96. Fulton Financial Corporation has a 52 week low of $14.32 and a 52 week high of $22.49. The firm has a market capitalization of $3.51 billion, a P/E ratio of 11.27 and a beta of 0.85.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.43 by $0.12. The firm 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 12.64% and a net margin of 17.00%.During the same period last year, the business earned $0.52 earnings per share. On average, equities research analysts expect that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, July 1st. Fulton Financial’s dividend payout ratio (DPR) is 42.11%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating on shares of Fulton Financial in a research note on Wednesday, July 9th. DA Davidson lifted their price target on shares of Fulton Financial from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Piper Sandler reaffirmed a “neutral” rating on shares of Fulton Financial in a report on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Thursday, July 17th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Fulton Financial currently has an average rating of “Hold” and a consensus target price of $21.13.

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.