Rhino Investment Partners Inc Buys 431,305 Shares of Fulton Financial Corporation $FULT

Rhino Investment Partners Inc increased its stake in Fulton Financial Corporation (NASDAQ:FULT) by 105.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 840,319 shares of the bank’s stock after acquiring an additional 431,305 shares during the quarter. Fulton Financial comprises approximately 4.8% of Rhino Investment Partners Inc’s investment portfolio, making the stock its 6th biggest position. Rhino Investment Partners Inc’s holdings in Fulton Financial were worth $17,092,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FULT. Keybank National Association OH raised its position in Fulton Financial by 1.5% during the first quarter. Keybank National Association OH now owns 32,887 shares of the bank’s stock worth $669,000 after acquiring an additional 485 shares during the period. Cetera Investment Advisers grew its position in shares of Fulton Financial by 2.6% in the first quarter. Cetera Investment Advisers now owns 21,829 shares of the bank’s stock valued at $444,000 after purchasing an additional 557 shares during the period. State of Wyoming grew its position in shares of Fulton Financial by 13.4% in the first quarter. State of Wyoming now owns 4,829 shares of the bank’s stock valued at $98,000 after purchasing an additional 570 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Fulton Financial by 2.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 23,924 shares of the bank’s stock worth $467,000 after purchasing an additional 580 shares in the last quarter. Finally, Root Financial Partners LLC increased its stake in shares of 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 in the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Fulton Financial Price Performance

Fulton Financial stock opened at $24.68 on Wednesday. The company has a fifty day simple moving average of $23.27 and a 200-day simple moving average of $21.75. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 11.81 and a beta of 0.79. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.06. Fulton Financial Corporation has a 52-week low of $16.60 and a 52-week high of $25.23.

Fulton Financial Announces Dividend

The firm 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 was Wednesday, July 1st. This represents a $0.76 dividend on an annualized basis and a yield of 3.1%. Fulton Financial’s payout ratio is presently 36.36%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FULT shares. DA Davidson upped their price target on shares of Fulton Financial from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Raymond James Financial lifted their price objective on Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Piper Sandler set a $23.00 target price on Fulton Financial and gave the company a “neutral” rating in a report on Friday, June 12th. Finally, Wall Street Zen upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $23.75.

Insider Transactions at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $24.14, for a total transaction of $120,700.00. Following the completion of the sale, the director owned 75,477 shares of the company’s stock, valued at approximately $1,822,014.78. This represents a 6.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.01% of the company’s stock.

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.