Legal & General Group Plc Invests $10.54 Million in Fulton Financial Corporation $FULT

Legal & General Group Plc acquired a new stake in Fulton Financial Corporation (NASDAQ:FULT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 435,494 shares of the bank’s stock, valued at approximately $10,535,000. Legal & General Group Plc owned approximately 0.23% of Fulton Financial as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new stake in Fulton Financial in the fourth quarter worth $25,000. Root Financial Partners LLC raised its holdings in shares of Fulton Financial by 89.9% during the first quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after purchasing an additional 607 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of Fulton Financial during the fourth quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Fulton Financial during the 4th quarter worth about $28,000. Finally, Axiom Investment Management LLC bought a new position in shares of Fulton Financial during the 1st quarter worth about $28,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fulton Financial in a research report on Wednesday, July 29th. Wall Street Zen upgraded Fulton Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Raymond James Financial raised their price objective on Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. DA Davidson boosted their price objective on Fulton Financial from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $27.00 target price (up from $23.00) on shares of Fulton Financial in a research report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Fulton Financial presently has an average rating of “Hold” and a consensus price target of $24.75.

Fulton Financial Price Performance

FULT opened at $23.46 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 11.22 and a beta of 0.79. The firm’s fifty day moving average price is $24.23 and its two-hundred day moving average price is $22.33. Fulton Financial Corporation has a 1 year low of $16.60 and a 1 year high of $25.23.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.07. Fulton Financial had a net margin of 20.63% and a return on equity of 12.68%. The company had revenue of $367.87 million for the quarter, compared to analyst estimates of $358.83 million. During the same period last year, the firm earned $0.55 earnings per share. The firm’s revenue was up 12.2% on a year-over-year basis. As a group, analysts anticipate that Fulton Financial Corporation will post 2.23 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a $0.19 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.76 annualized dividend and a yield of 3.2%. Fulton Financial’s dividend payout ratio (DPR) is 36.36%.

Insider Activity at Fulton Financial

In other news, Director Lisa Crutchfield sold 4,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $24.80, for a total value of $101,680.00. Following the completion of the transaction, the director directly owned 7,838 shares of the company’s stock, valued at $194,382.40. This represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director E Philip Wenger sold 5,000 shares of the stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $24.14, for a total value of $120,700.00. Following the sale, the director directly owned 75,477 shares of the company’s stock, valued at $1,822,014.78. The trade was a 6.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.01% of the stock is owned by company insiders.

About Fulton Financial

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.