Principle Wealth Partners LLC Takes Position in Fulton Financial Corporation $FULT

Principle Wealth Partners LLC bought a new stake in shares of Fulton Financial Corporation (NASDAQ:FULT) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 41,096 shares of the bank’s stock, valued at approximately $994,000.

Several other hedge funds also recently bought and sold shares of FULT. Keybank National Association OH increased its stake in Fulton Financial by 1.5% in the 1st quarter. Keybank National Association OH now owns 32,887 shares of the bank’s stock worth $669,000 after buying an additional 485 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Fulton Financial by 2.6% in the first quarter. Cetera Investment Advisers now owns 21,829 shares of the bank’s stock valued at $444,000 after acquiring an additional 557 shares in the last quarter. State of Wyoming lifted its position in shares of Fulton Financial by 13.4% in the first quarter. State of Wyoming now owns 4,829 shares of the bank’s stock valued at $98,000 after acquiring an additional 570 shares in the last quarter. Root Financial Partners LLC boosted its stake 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 worth $26,000 after acquiring an additional 607 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of Fulton Financial by 0.8% in the second quarter. Raymond James Financial Inc. now owns 88,351 shares of the bank’s stock worth $1,594,000 after acquiring an additional 741 shares during the period. Institutional investors own 72.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Piper Sandler reiterated 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. Weiss Ratings restated a “buy (b)” rating on shares of Fulton Financial in a research note on Wednesday, July 29th. Wall Street Zen upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Raymond James Financial increased their price objective on shares of 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 lifted their price objective on shares of Fulton Financial from $24.00 to $25.00 and gave the company 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $24.75.

Fulton Financial Stock Down 0.7%

FULT opened at $24.47 on Tuesday. The company has a market capitalization of $4.67 billion, a PE ratio of 11.71 and a beta of 0.79. The firm has a 50-day simple moving average of $24.07 and a two-hundred day simple moving average of $22.18. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.15. Fulton Financial Corporation has a 52 week low of $16.60 and a 52 week high of $25.23.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Wednesday, July 22nd. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.07. The firm had revenue of $367.87 million for the quarter, compared to analysts’ expectations of $358.83 million. Fulton Financial had a return on equity of 12.68% and a net margin of 20.63%.The business’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. Analysts forecast that Fulton Financial Corporation will post 2.23 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were 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 was Wednesday, July 1st. Fulton Financial’s dividend payout ratio (DPR) is currently 36.36%.

Insider Buying and Selling

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $24.14, for a total value of $120,700.00. Following the sale, the director owned 75,477 shares of the company’s stock, valued at $1,822,014.78. The trade was a 6.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 sale, the director directly owned 7,838 shares in the company, valued at $194,382.40. This trade represents a 34.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.01% of the company’s stock.

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.