Jupiter Topco LLC Makes New Investment in Fulton Financial Corporation $FULT

Jupiter Topco LLC purchased a new position in shares of Fulton Financial Corporation (NASDAQ:FULT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,399,756 shares of the bank’s stock, valued at approximately $33,861,000. Jupiter Topco LLC owned 0.73% of Fulton Financial at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Kestra Advisory Services LLC acquired a new stake in Fulton Financial during the 4th quarter worth approximately $25,000. Root Financial Partners LLC lifted its stake in 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 buying an additional 607 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Fulton Financial in the fourth quarter valued at approximately $27,000. Torren Management LLC bought a new stake in shares of Fulton Financial during the fourth quarter worth $28,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Fulton Financial during the fourth quarter worth $28,000. Institutional investors own 72.02% of the company’s stock.

Insider Transactions at Fulton Financial

In related news, Director Lisa Crutchfield sold 4,100 shares of the 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 completion of the transaction, the director directly owned 7,838 shares of the company’s stock, valued at approximately $194,382.40. This represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director E Philip Wenger sold 5,000 shares of the firm’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 transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. 0.01% of the stock is currently owned by insiders.

Fulton Financial Stock Performance

Shares of FULT stock opened at $23.67 on Friday. Fulton Financial Corporation has a 12 month low of $16.60 and a 12 month high of $25.23. The company’s fifty day simple moving average is $24.22 and its 200-day simple moving average is $22.32. The firm has a market cap of $4.52 billion, a PE ratio of 11.33 and a beta of 0.79. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.15.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Wednesday, July 22nd. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.07. Fulton Financial had a net margin of 20.63% and a return on equity of 12.68%. The business had revenue of $367.87 million during the quarter, compared to the consensus estimate of $358.83 million. During the same quarter last year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities research analysts expect that Fulton Financial Corporation will post 2.23 EPS for the current fiscal 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 3.2%. Fulton Financial’s dividend payout ratio (DPR) is presently 36.36%.

Analyst Ratings Changes

Several equities research analysts recently commented on FULT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fulton Financial in a research report on Wednesday, July 29th. DA Davidson increased their target price on Fulton Financial from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. 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 note on Monday, August 3rd. Raymond James Financial boosted their price target on Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Finally, Wall Street Zen raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.75.

About Fulton Financial

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.