Fulton Financial Corporation $FULT Holdings Decreased by Vest Financial LLC

Vest Financial LLC reduced its position in shares of Fulton Financial Corporation (NASDAQ:FULT) by 30.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,417 shares of the bank’s stock after selling 82,740 shares during the period. Vest Financial LLC’s holdings in Fulton Financial were worth $4,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Fulton Financial during the 2nd quarter worth approximately $676,732,000. Dimensional Fund Advisors LP increased its position in Fulton Financial by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,177,001 shares of the bank’s stock valued at $227,333,000 after acquiring an additional 87,813 shares during the period. First Trust Advisors LP increased its position in Fulton Financial by 31.2% in the 1st quarter. First Trust Advisors LP now owns 8,050,923 shares of the bank’s stock valued at $163,756,000 after acquiring an additional 1,912,709 shares during the period. Bank of New York Mellon Corp acquired a new position in Fulton Financial in the 2nd quarter valued at approximately $46,008,000. Finally, Bank of America Corp DE raised its stake in shares of Fulton Financial by 132.4% during the first quarter. Bank of America Corp DE now owns 1,576,996 shares of the bank’s stock valued at $32,076,000 after acquiring an additional 898,435 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Insider Activity

In related news, Director Lisa Crutchfield sold 4,100 shares of the stock in a transaction 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 directly owned 7,838 shares of the company’s stock, valued at $194,382.40. This represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FULT shares. Piper Sandler reiterated a “neutral” rating and issued a $27.00 price target (up from $23.00) on shares of Fulton Financial in a research report on Monday, August 3rd. Wall Street Zen raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Raymond James Financial downgraded Fulton Financial from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 6th. DA Davidson lifted their price objective on Fulton Financial from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fulton Financial in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.75.

Fulton Financial Trading Up 1.4%

Shares of FULT stock opened at $23.67 on Friday. Fulton Financial Corporation has a fifty-two week low of $16.91 and a fifty-two week high of $25.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.92 and a current ratio of 0.90. The stock has a 50 day simple moving average of $23.16 and a two-hundred day simple moving average of $22.96. The company has a market cap of $4.52 billion, a P/E ratio of 11.01 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Wednesday, October 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.07. The firm had revenue of $367.26 million for the quarter, compared to analysts’ expectations of $366.71 million. Fulton Financial had a return on equity of 12.79% and a net margin of 21.07%. During the same period in the prior year, the business earned $0.55 EPS. Research analysts forecast that Fulton Financial Corporation will post 2.22 earnings per share for the current year.

Fulton Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Thursday, October 1st. Fulton Financial’s payout ratio is presently 35.35%.

Fulton Financial Profile

Fulton Financial Corporation is a regional bank holding company headquartered in Lancaster, Pennsylvania. Through its principal subsidiary, Fulton Bank, N.A., the company provides banking and financial services to individuals, businesses, and institutions.

Fulton Bank offers deposit accounts, consumer and commercial lending, residential mortgages, and cash-management and treasury services. Its other offerings include wealth management, trust and investment services, financial planning, and insurance solutions.

Founded in 1882, Fulton Financial serves customers through banking offices and digital channels in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia.