Wilmington Savings Fund Society FSB Raises Stock Holdings in Fulton Financial Corporation $FULT

Wilmington Savings Fund Society FSB boosted its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT) by 5.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,510 shares of the bank’s stock after purchasing an additional 1,700 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Fulton Financial were worth $586,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Quarry LP grew its position in shares of Fulton Financial by 1,669.6% during the first quarter. Quarry LP now owns 1,982 shares of the bank’s stock worth $36,000 after buying an additional 1,870 shares in the last quarter. GAMMA Investing LLC boosted its stake in Fulton Financial by 42.2% during the 1st quarter. GAMMA Investing LLC now owns 3,072 shares of the bank’s stock valued at $56,000 after acquiring an additional 911 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new position in Fulton Financial during the 1st quarter worth $60,000. Blue Trust Inc. grew its holdings in Fulton Financial by 15.1% during the 1st quarter. Blue Trust Inc. now owns 5,728 shares of the bank’s stock worth $104,000 after acquiring an additional 752 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its position in shares of Fulton Financial by 21.5% in the 1st quarter. TD Private Client Wealth LLC now owns 8,377 shares of the bank’s stock worth $152,000 after purchasing an additional 1,483 shares during the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $19.28, for a total transaction of $96,400.00. Following the completion of the transaction, the director owned 90,477 shares in the company, valued at approximately $1,744,396.56. This represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.08% of the company’s stock.

Fulton Financial Stock Performance

Shares of NASDAQ FULT opened at $17.09 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The firm’s 50-day moving average price is $18.81 and its two-hundred day moving average price is $17.97. Fulton Financial Corporation has a 52-week low of $14.32 and a 52-week high of $22.49. The stock has a market capitalization of $3.11 billion, a P/E ratio of 9.99 and a beta of 0.82.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, November 8th. The bank reported $0.45 EPS for the quarter. The company had revenue of $236.96 million during the quarter. Fulton Financial had a return on equity of 12.64% and a net margin of 17.00%. As a group, sell-side analysts forecast that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Wednesday, October 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 42.11%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FULT. Raymond James Financial raised shares of Fulton Financial from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, October 7th. Piper Sandler reaffirmed a “neutral” rating on shares of Fulton Financial in a report on Wednesday, July 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fulton Financial in a research report on Wednesday, October 8th. Zacks Research lowered Fulton Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Finally, DA Davidson lifted their price objective on shares of Fulton Financial from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.10.

Fulton Financial 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.