517,485 Shares in Fulton Financial Corporation $FULT Bought by Palisade Capital Management LP

Palisade Capital Management LP purchased a new position in Fulton Financial Corporation (NASDAQ:FULT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 517,485 shares of the bank’s stock, valued at approximately $12,518,000.

Other large investors have also bought and sold shares of the company. Kestra Advisory Services LLC bought a new stake in Fulton Financial in the fourth quarter valued at $25,000. Root Financial Partners LLC boosted its position in shares of Fulton Financial by 89.9% during the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock worth $26,000 after purchasing an additional 607 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Fulton Financial in the 4th quarter valued at about $27,000. Torren Management LLC acquired a new stake in shares of Fulton Financial in the 4th quarter valued at about $28,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Fulton Financial in the 4th quarter valued at about $28,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fulton Financial in a research note on Wednesday, July 29th. 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. Raymond James Financial increased their target price on Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Wall Street Zen raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, DA Davidson boosted their price target on shares of Fulton Financial from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.75.

Insider Activity

In other Fulton Financial news, Director Lisa Crutchfield sold 4,100 shares of Fulton Financial stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $24.80, for a total transaction of $101,680.00. Following the transaction, the director owned 7,838 shares of the company’s stock, valued at $194,382.40. This trade represents a 34.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director E Philip Wenger sold 5,000 shares of the business’s 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 completion of the transaction, the director owned 75,477 shares in the company, valued at $1,822,014.78. The trade was a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.01% of the stock is currently owned by insiders.

Fulton Financial Stock Performance

Shares of Fulton Financial stock opened at $23.66 on Wednesday. Fulton Financial Corporation has a 52 week low of $16.60 and a 52 week high of $25.23. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $24.16 and a 200-day moving average price of $22.30. The company has a market cap of $4.52 billion, a PE ratio of 11.32 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last announced its quarterly 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. Fulton Financial had a return on equity of 12.68% and a net margin of 20.63%.The business had revenue of $367.87 million during the quarter, compared to the consensus estimate of $358.83 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. Fulton Financial’s revenue was up 12.2% compared to the same quarter last year. Equities analysts anticipate 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. Investors of record on Wednesday, July 1st were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.76 annualized dividend and a yield of 3.2%. Fulton Financial’s payout ratio is 36.36%.

Fulton Financial 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.