Man Group plc Invests $2.27 Million in Fulton Financial Corporation $FULT

Man Group plc acquired a new position in Fulton Financial Corporation (NASDAQ:FULT) during the second quarter, Holdings Channel reports. The firm acquired 93,828 shares of the bank’s stock, valued at approximately $2,270,000.

Other large investors also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new position in Fulton Financial in the 4th quarter worth about $25,000. Root Financial Partners LLC boosted its position in shares of Fulton Financial by 89.9% during the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after acquiring an additional 607 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Fulton Financial during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Fulton Financial during the fourth quarter worth about $28,000. Finally, Axiom Investment Management LLC purchased a new position in shares of Fulton Financial during the first quarter worth about $28,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Trading Down 1.1%

Shares of FULT opened at $23.21 on Wednesday. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 11.11 and a beta of 0.78. 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 fifty-two week low of $16.60 and a fifty-two week high of $25.23. The firm has a 50 day moving average price of $24.22 and a 200-day moving average price of $22.34.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Wednesday, July 22nd. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.53 by $0.07. The company had revenue of $367.87 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 EPS. As a group, equities research analysts forecast that Fulton Financial Corporation will post 2.23 earnings per share for the current year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a $0.19 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.76 annualized dividend and a dividend yield of 3.3%. Fulton Financial’s payout ratio is currently 36.36%.

Wall Street Analyst Weigh In

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

Insider Transactions at Fulton Financial

In related news, Director Lisa Crutchfield sold 4,100 shares of the firm’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 transaction of $101,680.00. Following the transaction, the director directly owned 7,838 shares in the company, valued at $194,382.40. This trade represents a 34.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director E Philip Wenger sold 5,000 shares of the business’s 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 sale, the director 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 SEC filing for this sale provides additional information. Insiders own 0.01% of the company’s stock.

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.