Bessemer Group Inc. Purchases 87,276 Shares of Fulton Financial Corporation $FULT

Bessemer Group Inc. increased its position in Fulton Financial Corporation (NASDAQ:FULT) by 47.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 269,443 shares of the bank’s stock after purchasing an additional 87,276 shares during the quarter. Bessemer Group Inc. owned approximately 0.15% of Fulton Financial worth $5,481,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FULT. Illinois Municipal Retirement Fund raised its holdings in Fulton Financial by 4.5% in the first quarter. Illinois Municipal Retirement Fund now owns 94,381 shares of the bank’s stock worth $1,920,000 after purchasing an additional 4,022 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Fulton Financial by 6.5% during the 1st quarter. Maryland State Retirement & Pension System now owns 28,059 shares of the bank’s stock valued at $571,000 after buying an additional 1,715 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Fulton Financial by 16.4% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,668 shares of the bank’s stock worth $298,000 after buying an additional 2,071 shares during the period. Principal Financial Group Inc. grew its position in shares of Fulton Financial by 54.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,328,889 shares of the bank’s stock worth $27,030,000 after buying an additional 468,081 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Fulton Financial by 5.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,346 shares of the bank’s stock worth $963,000 after acquiring an additional 2,637 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors.

Insider Activity at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction on Monday, July 13th. The stock was 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 in the company, valued at $1,822,014.78. The trade was a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.01% of the company’s stock.

Fulton Financial Stock Down 1.0%

NASDAQ:FULT opened at $24.54 on Tuesday. The firm has a market cap of $4.69 billion, a P/E ratio of 11.69 and a beta of 0.79. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 0.90. 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 simple moving average of $22.83 and a two-hundred day simple moving average of $21.54.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. The firm had revenue of $331.86 million for the quarter, compared to the consensus estimate of $359.36 million. Fulton Financial had a net margin of 20.85% and a return on equity of 12.69%. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Analysts predict that Fulton Financial Corporation will post 2.18 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.1%. Fulton Financial’s dividend payout ratio (DPR) is presently 36.19%.

Analyst Ratings Changes

A number of research analysts recently issued reports on FULT shares. Raymond James Financial lifted their price target on shares of Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Wall Street Zen cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Weiss Ratings raised shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Finally, Piper Sandler set a $23.00 target price on shares of Fulton Financial and gave the company a “neutral” rating in a report on Friday, June 12th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.50.

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.