Hsbc Holdings PLC Acquires 26,266 Shares of Fulton Financial Corporation $FULT

Hsbc Holdings PLC grew its holdings in Fulton Financial Corporation (NASDAQ:FULT) by 65.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,557 shares of the bank’s stock after purchasing an additional 26,266 shares during the quarter. Hsbc Holdings PLC’s holdings in Fulton Financial were worth $1,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new stake in Fulton Financial during the fourth 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 during the period. Eurizon Capital SGR S.p.A. bought a new position in shares of Fulton Financial during the 4th quarter worth approximately $27,000. V Square Quantitative Management LLC bought a new position in shares of Fulton Financial during the 4th quarter worth approximately $28,000. Finally, Torren Management LLC bought a new position in shares of Fulton Financial during the 4th quarter worth approximately $28,000. Institutional investors own 72.02% of the company’s stock.

Analyst Upgrades and Downgrades

FULT has been the subject of several research analyst reports. Raymond James Financial lifted their price objective on shares of Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Wall Street Zen raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. DA Davidson increased their price objective on shares of Fulton Financial from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Piper Sandler set a $23.00 target price on Fulton Financial and gave the company a “neutral” rating in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.75.

Insider Buying and Selling

In other news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 75,477 shares of the company’s stock, valued at $1,822,014.78. This represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.01% of the company’s stock.

Fulton Financial Trading Down 0.7%

NASDAQ:FULT opened at $24.40 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.90 and a quick ratio of 0.90. Fulton Financial Corporation has a one year low of $16.60 and a one year high of $25.23. The company has a market cap of $4.66 billion, a PE ratio of 11.67 and a beta of 0.79. The firm has a 50-day moving average of $23.19 and a 200-day moving average of $21.71.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.76 dividend on an annualized basis and a yield of 3.1%. Fulton Financial’s payout ratio is 36.36%.

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.