Odyssean LLC Makes New $682,000 Investment in Fulton Financial Corporation $FULT

Odyssean LLC acquired a new position in shares of Fulton Financial Corporation (NASDAQ:FULT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 28,180 shares of the bank’s stock, valued at approximately $682,000.

A number of other large investors have also made changes to their positions in the stock. Keybank National Association OH increased its stake in Fulton Financial by 1.5% during the first quarter. Keybank National Association OH now owns 32,887 shares of the bank’s stock valued at $669,000 after acquiring an additional 485 shares during the period. Cetera Investment Advisers grew its holdings in shares of Fulton Financial by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 21,829 shares of the bank’s stock worth $444,000 after purchasing an additional 557 shares in the last quarter. State of Wyoming grew its holdings in shares of Fulton Financial by 13.4% during the 1st quarter. State of Wyoming now owns 4,829 shares of the bank’s stock worth $98,000 after purchasing an additional 570 shares in the last quarter. Root Financial Partners LLC raised 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 valued at $26,000 after purchasing an additional 607 shares in the last quarter. Finally, Raymond James Financial Inc. raised 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 valued at $1,594,000 after purchasing an additional 741 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Insider Buying and Selling

In other news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction that occurred on Monday, July 13th. The shares were 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 approximately $1,822,014.78. The trade was a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lisa Crutchfield sold 4,100 shares of the business’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 completion of the transaction, the director directly owned 7,838 shares in the company, valued at $194,382.40. The trade was a 34.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

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

Fulton Financial Stock Up 0.6%

FULT opened at $23.80 on Thursday. The firm’s 50-day simple moving average is $24.19 and its 200-day simple moving average is $22.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.92 and a current ratio of 0.92. Fulton Financial Corporation has a twelve month low of $16.60 and a twelve month high of $25.23. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 11.39 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, beating the consensus estimate of $0.53 by $0.07. The firm had revenue of $367.87 million during the quarter, compared to the consensus estimate of $358.83 million. Fulton Financial had a net margin of 20.63% and a return on equity of 12.68%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the firm posted $0.55 EPS. Equities research analysts anticipate that Fulton Financial Corporation will post 2.23 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.76 annualized dividend and a dividend yield of 3.2%. Fulton Financial’s dividend payout ratio (DPR) is presently 36.36%.

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.