Deutsche Bank AG Makes New $4.90 Million Investment in Fulton Financial Corporation $FULT

Deutsche Bank AG purchased a new position in shares of Fulton Financial Corporation (NASDAQ:FULT) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 202,534 shares of the bank’s stock, valued at approximately $4,899,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Fulton Financial during the 4th quarter worth approximately $44,271,000. Goldman Sachs Group Inc. raised its position in shares of Fulton Financial by 219.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,822,385 shares of the bank’s stock valued at $54,557,000 after buying an additional 1,939,260 shares during the period. First Trust Advisors LP lifted its holdings in Fulton Financial by 31.2% in the first quarter. First Trust Advisors LP now owns 8,050,923 shares of the bank’s stock valued at $163,756,000 after acquiring an additional 1,912,709 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Fulton Financial in the second quarter valued at approximately $46,008,000. Finally, Balyasny Asset Management L.P. purchased a new position in Fulton Financial in the second quarter worth approximately $22,069,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Analysts Set New Price Targets

FULT has been the subject of several recent analyst reports. Piper Sandler reissued 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fulton Financial in a research note on Wednesday, July 29th. DA Davidson increased their price target on Fulton Financial from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Wall Street Zen raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Raymond James Financial boosted their price objective on shares of Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. 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 company currently has an average rating of “Hold” and an average target price of $24.75.

Insider Buying and Selling at Fulton Financial

In related news, Director Lisa Crutchfield sold 4,100 shares of the business’s stock in a transaction 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 sale, the director owned 7,838 shares in the company, valued at approximately $194,382.40. The trade was a 34.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director E Philip Wenger sold 5,000 shares of the stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $24.14, for a total value of $120,700.00. Following the transaction, the director directly owned 75,477 shares in the company, valued at approximately $1,822,014.78. The trade was a 6.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.01% of the company’s stock.

Fulton Financial Stock Performance

Shares of FULT stock opened at $23.66 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $4.52 billion, a P/E ratio of 11.32 and a beta of 0.79. The firm’s 50 day moving average price is $24.16 and its 200-day moving average price is $22.30. Fulton Financial Corporation has a one year low of $16.60 and a one year high of $25.23.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Wednesday, July 22nd. The bank reported $0.60 earnings per share 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 revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. As a group, equities research analysts predict that Fulton Financial Corporation will post 2.23 EPS for the current year.

Fulton Financial Dividend Announcement

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

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.