Norges Bank Makes New Investment in Fulton Financial Corporation $FULT

Norges Bank acquired a new position in shares of Fulton Financial Corporation (NASDAQ:FULT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,290,257 shares of the bank’s stock, valued at approximately $44,271,000.

Several other hedge funds have also recently bought and sold shares of FULT. Royal Bank of Canada lifted its position in Fulton Financial by 4.9% during the first quarter. Royal Bank of Canada now owns 220,706 shares of the bank’s stock worth $3,992,000 after acquiring an additional 10,242 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Fulton Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,096 shares of the bank’s stock valued at $1,955,000 after buying an additional 4,727 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Fulton Financial by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 448,832 shares of the bank’s stock valued at $8,119,000 after buying an additional 21,596 shares in the last quarter. Jane Street Group LLC raised its position in shares of Fulton Financial by 914.9% in the first quarter. Jane Street Group LLC now owns 308,243 shares of the bank’s stock valued at $5,576,000 after buying an additional 277,871 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Fulton Financial in the first quarter valued at approximately $152,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Fulton Financial Stock Performance

NASDAQ FULT opened at $22.05 on Tuesday. The firm’s fifty day moving average price is $21.34 and its two-hundred day moving average price is $20.57. The stock has a market cap of $4.21 billion, a PE ratio of 10.50 and a beta of 0.80. Fulton Financial Corporation has a fifty-two week low of $16.60 and a fifty-two week high of $22.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. Fulton Financial had a net margin of 20.85% and a return on equity of 12.69%. The company had revenue of $331.86 million for the quarter, compared to analysts’ expectations of $359.36 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, equities analysts expect that Fulton Financial Corporation will post 2.17 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.76 annualized dividend and a dividend yield of 3.4%. Fulton Financial’s payout ratio is currently 36.19%.

Insider Buying and Selling at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $21.42, for a total value of $107,100.00. Following the sale, the director owned 80,477 shares of the company’s stock, valued at $1,723,817.34. The trade was a 5.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FULT shares. DA Davidson started coverage on shares of Fulton Financial in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 price target for the company. Wall Street Zen downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Sunday, May 3rd. Weiss Ratings upgraded shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $24.00 target price on shares of Fulton Financial in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Fulton Financial presently has a consensus rating of “Hold” and an average price target of $23.00.

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.