Fulton Financial Corporation $FULT Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its position in shares of Fulton Financial Corporation (NASDAQ:FULT) by 23.4% in the first quarter, Holdings Channel reports. The institutional investor owned 1,360,809 shares of the bank’s stock after selling 415,801 shares during the period. Janus Henderson Group PLC’s holdings in Fulton Financial were worth $27,680,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Fulton Financial by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 11,177,001 shares of the bank’s stock worth $227,333,000 after acquiring an additional 87,813 shares during the period. First Trust Advisors LP lifted its position in Fulton Financial by 31.2% in the first quarter. First Trust Advisors LP now owns 8,050,923 shares of the bank’s stock valued at $163,756,000 after purchasing an additional 1,912,709 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Fulton Financial by 29.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,590,883 shares of the bank’s stock valued at $88,743,000 after purchasing an additional 1,054,321 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Fulton Financial by 219.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,822,385 shares of the bank’s stock valued at $54,557,000 after purchasing an additional 1,939,260 shares in the last quarter. Finally, Norges Bank acquired a new position in Fulton Financial during the 4th quarter worth approximately $44,271,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FULT shares. Piper Sandler set a $23.00 target price on Fulton Financial and gave the stock a “neutral” rating in a research note on Friday, June 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fulton Financial in a report on Wednesday. Wall Street Zen upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Raymond James Financial raised their target price on Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Finally, DA Davidson boosted their target price on shares of Fulton Financial from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Fulton Financial has a consensus rating of “Hold” and an average price target of $23.75.

Fulton Financial Price Performance

FULT stock opened at $24.33 on Monday. The firm has a 50 day moving average of $23.45 and a 200-day moving average of $21.85. Fulton Financial Corporation has a 12-month low of $16.60 and a 12-month high of $25.23. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 11.64 and a beta of 0.79.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 36.36%.

Insiders Place Their Bets

In related news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction on Monday, July 13th. The stock was sold at an average price of $24.14, for a total transaction of $120,700.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.01% of the stock is owned by insiders.

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.