Fulton Financial Corporation (NASDAQ:FULT) Shares Sold by AE Wealth Management LLC

AE Wealth Management LLC lessened its stake in shares of Fulton Financial Corporation (NASDAQ:FULT) by 12.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 17,428 shares of the bank’s stock after selling 2,485 shares during the period. AE Wealth Management LLC’s holdings in Fulton Financial were worth $315,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Fulton Financial by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 22,383,504 shares of the bank’s stock worth $431,554,000 after purchasing an additional 285,376 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Fulton Financial by 5.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,321,387 shares of the bank’s stock worth $83,316,000 after purchasing an additional 216,118 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Fulton Financial by 1.9% during the fourth quarter. Janus Henderson Group PLC now owns 2,517,149 shares of the bank’s stock worth $48,530,000 after purchasing an additional 47,338 shares during the last quarter. Norges Bank acquired a new stake in shares of Fulton Financial during the fourth quarter worth $38,010,000. Finally, First Trust Advisors LP boosted its holdings in shares of Fulton Financial by 61.7% during the fourth quarter. First Trust Advisors LP now owns 1,770,377 shares of the bank’s stock worth $34,133,000 after purchasing an additional 675,819 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FULT. DA Davidson raised their price objective on Fulton Financial from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Keefe, Bruyette & Woods lifted their target price on Fulton Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Thursday, July 17th. Piper Sandler reiterated a “neutral” rating on shares of Fulton Financial in a report on Wednesday, July 9th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Fulton Financial in a report on Wednesday, July 9th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.13.

Insider Activity at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $18.41, for a total transaction of $92,050.00. Following the transaction, the director owned 599,102 shares in the company, valued at $11,029,467.82. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.08% of the stock is currently owned by corporate insiders.

Fulton Financial Price Performance

Shares of Fulton Financial stock opened at $18.14 on Thursday. Fulton Financial Corporation has a twelve month low of $14.32 and a twelve month high of $22.49. The stock has a market capitalization of $3.30 billion, a P/E ratio of 10.61 and a beta of 0.77. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The business’s fifty day moving average price is $18.14 and its 200 day moving average price is $18.31.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.12. The company had revenue of $328.45 million for the quarter, compared to analysts’ expectations of $320.47 million. Fulton Financial had a return on equity of 12.44% and a net margin of 17.00%. During the same quarter in the previous year, the firm posted $0.52 earnings per share. As a group, research analysts anticipate that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Tuesday, July 1st. Fulton Financial’s dividend payout ratio is presently 42.11%.

Fulton Financial Company 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.