First Trust Advisors LP Has $163.76 Million Holdings in Fulton Financial Corporation $FULT

First Trust Advisors LP boosted its holdings in Fulton Financial Corporation (NASDAQ:FULT) by 31.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 8,050,923 shares of the bank’s stock after purchasing an additional 1,912,709 shares during the quarter. First Trust Advisors LP’s holdings in Fulton Financial were worth $163,756,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FULT. Root Financial Partners LLC increased its holdings in Fulton Financial by 89.9% during the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock worth $26,000 after purchasing an additional 607 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Fulton Financial in the fourth quarter valued at approximately $25,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Fulton Financial during the fourth quarter valued at approximately $27,000. Torren Management LLC purchased a new position in shares of Fulton Financial during the fourth quarter valued at approximately $28,000. Finally, V Square Quantitative Management LLC bought a new stake in Fulton Financial during the fourth quarter worth $28,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Insider Buying and Selling at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $24.14, for a total value of $120,700.00. Following the transaction, the director directly owned 75,477 shares of the company’s stock, valued at approximately $1,822,014.78. The trade was a 6.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on FULT. Weiss Ratings raised Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Piper Sandler set a $23.00 target price on shares of Fulton Financial and gave the stock a “neutral” rating in a research note on Friday, June 12th. Wall Street Zen downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Finally, Raymond James Financial raised their price target on shares of Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $23.50.

Fulton Financial Stock Performance

FULT stock opened at $24.44 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.06. The firm has a market cap of $4.67 billion, a PE ratio of 11.64 and a beta of 0.79. The business has a 50 day moving average of $22.98 and a 200-day moving average of $21.61. Fulton Financial Corporation has a 12-month low of $16.60 and a 12-month high of $25.23.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.07. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.The business had revenue of $363.56 million for the quarter, compared to analyst estimates of $358.83 million. During the same period last year, the company posted $0.55 earnings per share. Fulton Financial’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts expect that Fulton Financial Corporation will post 2.18 earnings per share for the current year.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Wednesday, July 1st. Fulton Financial’s payout ratio is presently 36.19%.

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.