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

First Trust Advisors LP raised its position in Fulton Financial Corporation (NASDAQ:FULT) by 31.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 8,050,923 shares of the bank’s stock after purchasing an additional 1,912,709 shares during the period. First Trust Advisors LP owned 4.21% of Fulton Financial worth $163,756,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in Fulton Financial by 25.2% in the fourth quarter. Nordea Investment Management AB now owns 737,737 shares of the bank’s stock valued at $14,327,000 after buying an additional 148,399 shares during the period. Norges Bank acquired a new stake in Fulton Financial during the 4th quarter worth about $44,271,000. JPMorgan Chase & Co. grew its holdings in Fulton Financial by 46.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 603,553 shares of the bank’s stock worth $11,244,000 after acquiring an additional 191,764 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Fulton Financial in the 4th quarter worth about $4,580,000. Finally, Econ Financial Services Corp bought a new position in shares of Fulton Financial in the 4th quarter worth about $2,018,000. Institutional investors and hedge funds 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 company’s stock in a transaction that occurred 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 transaction, the director directly owned 75,477 shares of the company’s stock, valued at $1,822,014.78. This represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.01% of the stock is owned by insiders.

Analyst Ratings Changes

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

Fulton Financial Price Performance

FULT stock opened at $24.44 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.90 and a quick ratio of 0.90. The company’s 50-day moving average is $22.98 and its 200-day moving average is $21.61. The stock has a market capitalization of $4.67 billion, a PE ratio of 11.64 and a beta of 0.79. Fulton Financial Corporation has a 1 year low of $16.60 and a 1 year high of $25.23.

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

Fulton Financial Dividend Announcement

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

Fulton Financial Company 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.