Hsbc Holdings PLC Purchases Shares of 112,359 Fulton Financial Corporation $FULT

Hsbc Holdings PLC purchased a new position in shares of Fulton Financial Corporation (NASDAQ:FULT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 112,359 shares of the bank’s stock, valued at approximately $2,726,000. Hsbc Holdings PLC owned approximately 0.06% of Fulton Financial as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Root Financial Partners LLC boosted its stake 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 acquiring an additional 607 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Fulton Financial during the fourth quarter valued at about $25,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Fulton Financial during the fourth quarter valued at about $27,000. Axiom Investment Management LLC bought a new position in shares of Fulton Financial during the 1st quarter worth about $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Fulton Financial in the 4th quarter valued at about $28,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Performance

FULT stock opened at $23.67 on Monday. 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 firm has a market cap of $4.52 billion, a PE ratio of 11.33 and a beta of 0.79. The business has a 50 day moving average of $24.22 and a 200-day moving average of $22.32. Fulton Financial Corporation has a 12-month low of $16.60 and a 12-month high of $25.23.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.07. Fulton Financial had a return on equity of 12.68% and a net margin of 20.63%.The business had revenue of $367.87 million for the quarter, compared to analyst estimates of $358.83 million. During the same period last year, the company posted $0.55 earnings per share. Fulton Financial’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts expect that Fulton Financial Corporation will post 2.23 earnings per share for the current year.

Fulton Financial Announces Dividend

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

Insider Transactions at Fulton Financial

In related news, Director Lisa Crutchfield sold 4,100 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $24.80, for a total transaction of $101,680.00. Following the completion of the transaction, the director owned 7,838 shares in the company, valued at approximately $194,382.40. This represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director E Philip Wenger sold 5,000 shares of the 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 transaction, the director owned 75,477 shares of the company’s stock, valued at approximately $1,822,014.78. The trade was a 6.21% decrease in their position. The SEC filing for this sale provides additional information. 0.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on FULT. DA Davidson boosted their target price on Fulton Financial from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Raymond James Financial increased their target price on Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Wall Street Zen raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of Fulton Financial in a research note on Wednesday, July 29th. Finally, Piper Sandler restated 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. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Fulton Financial has a consensus 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.