Jupiter Topco LLC Takes Position in Fulton Financial Corporation $FULT

Jupiter Topco LLC acquired a new position in shares of Fulton Financial Corporation (NASDAQ:FULT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,399,756 shares of the bank’s stock, valued at approximately $33,861,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Root Financial Partners LLC grew its holdings in Fulton Financial by 89.9% during the first quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock worth $26,000 after purchasing an additional 607 shares during the period. Kestra Advisory Services LLC bought a new stake in Fulton Financial in the fourth quarter valued at approximately $25,000. Eurizon Capital SGR S.p.A. bought a new stake in Fulton Financial in the fourth quarter valued at approximately $27,000. Axiom Investment Management LLC acquired a new stake in shares of Fulton Financial in the first quarter valued at approximately $28,000. Finally, Torren Management LLC acquired a new stake in shares of Fulton Financial in the fourth quarter valued at approximately $28,000. 72.02% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction 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 directly owned 75,477 shares of the company’s stock, valued at $1,822,014.78. The trade was a 6.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lisa Crutchfield sold 4,100 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $24.80, for a total value of $101,680.00. Following the sale, the director owned 7,838 shares of the company’s stock, valued at approximately $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. Corporate insiders own 0.01% of the company’s stock.

Fulton Financial Price Performance

Shares of Fulton Financial stock opened at $23.67 on Friday. 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 stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 11.33 and a beta of 0.79. Fulton Financial Corporation has a twelve month low of $16.60 and a twelve month high of $25.23. The company has a 50-day simple moving average of $24.22 and a two-hundred day simple moving average of $22.32.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.53 by $0.07. Fulton Financial had a net margin of 20.63% and a return on equity of 12.68%. The company had revenue of $367.87 million for the quarter, compared to analysts’ expectations of $358.83 million. During the same period last year, the firm earned $0.55 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. Analysts forecast that Fulton Financial Corporation will post 2.23 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.76 dividend on an annualized basis and a yield of 3.2%. Fulton Financial’s dividend payout ratio is currently 36.36%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FULT shares. Weiss Ratings reissued a “buy (b)” rating on shares of Fulton Financial in a report on Wednesday, July 29th. Raymond James Financial lifted their price objective on shares of Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Wall Street Zen upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. DA Davidson increased their price objective on shares of Fulton Financial from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Piper Sandler restated a “neutral” rating and set a $27.00 target price (up from $23.00) on shares of Fulton Financial in a research note on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Fulton Financial currently has an average rating of “Hold” and a consensus price target of $24.75.

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.