Y Intercept Hong Kong Ltd Invests $3.50 Million in Fulton Financial Corporation $FULT

Y Intercept Hong Kong Ltd bought a new position in shares of Fulton Financial Corporation (NASDAQ:FULT) during the 1st quarter, HoldingsChannel.com reports. The fund bought 171,912 shares of the bank’s stock, valued at approximately $3,497,000.

Several other large investors also recently bought and sold shares of FULT. Root Financial Partners LLC boosted its holdings in shares of Fulton Financial by 89.9% in the first quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after acquiring an additional 607 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Fulton Financial during the 4th quarter worth $25,000. Eurizon Capital SGR S.p.A. acquired a new position in Fulton Financial during the fourth quarter worth about $27,000. Torren Management LLC acquired a new stake in shares of Fulton Financial during the 4th quarter valued at approximately $28,000. Finally, V Square Quantitative Management LLC acquired a new position in Fulton Financial during the fourth quarter worth $28,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Weiss Ratings upgraded 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 price objective on Fulton Financial and gave the company a “neutral” rating in a research report on Friday, June 12th. Raymond James Financial lifted their price objective on Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.50.

Fulton Financial Trading Up 0.1%

Shares of FULT traded up $0.02 during trading hours on Tuesday, hitting $24.35. The stock had a trading volume of 507,990 shares, compared to its average volume of 1,991,216. Fulton Financial Corporation has a 12-month low of $16.60 and a 12-month high of $24.71. The firm has a market cap of $4.65 billion, a P/E ratio of 11.60 and a beta of 0.79. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 0.90. The company’s fifty day simple moving average is $22.27 and its 200 day simple moving average is $21.24.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $331.86 million during the quarter, compared to analysts’ expectations of $359.36 million. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.During the same quarter in the previous year, the business earned $0.52 EPS. Equities research analysts forecast that Fulton Financial Corporation will post 2.18 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Fulton Financial’s dividend payout ratio (DPR) is currently 36.19%.

Insider Activity at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $21.42, for a total transaction of $107,100.00. Following the sale, the director directly owned 80,477 shares of the company’s stock, valued at approximately $1,723,817.34. This represents a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.01% of the company’s stock.

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.