American Century Companies Inc. Has $66.75 Million Position in Fulton Financial Corporation $FULT

American Century Companies Inc. boosted its holdings in Fulton Financial Corporation (NASDAQ:FULT) by 25.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,583,100 shares of the bank’s stock after buying an additional 723,948 shares during the quarter. American Century Companies Inc. owned approximately 1.97% of Fulton Financial worth $66,753,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FULT. EverSource Wealth Advisors LLC raised its stake in shares of Fulton Financial by 373.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,311 shares during the last quarter. State of Wyoming bought a new stake in shares of Fulton Financial in the second quarter worth $30,000. Jones Financial Companies Lllp increased its holdings in Fulton Financial by 48.0% in the third quarter. Jones Financial Companies Lllp now owns 1,995 shares of the bank’s stock valued at $38,000 after purchasing an additional 647 shares during the period. Hantz Financial Services Inc. increased its holdings in Fulton Financial by 1,533.8% in the third quarter. Hantz Financial Services Inc. now owns 2,173 shares of the bank’s stock valued at $40,000 after purchasing an additional 2,040 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Fulton Financial by 103.7% in the third quarter. Smartleaf Asset Management LLC now owns 7,631 shares of the bank’s stock valued at $143,000 after purchasing an additional 3,885 shares during the period. 72.02% of the stock is owned by institutional investors.

Fulton Financial Stock Up 1.7%

Shares of Fulton Financial stock opened at $21.10 on Thursday. The stock’s 50-day moving average is $20.79 and its 200 day moving average is $19.38. Fulton Financial Corporation has a one year low of $14.32 and a one year high of $22.99. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 10.14 and a beta of 0.85. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.90 and a quick ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Wednesday, January 21st. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $336.02 million for the quarter, compared to analyst estimates of $336.80 million. Fulton Financial had a return on equity of 12.78% and a net margin of 20.68%.During the same period in the previous year, the firm earned $0.48 earnings per share. Equities research analysts anticipate that Fulton Financial Corporation will post 1.91 EPS for the current year.

Fulton Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Wednesday, December 31st. This is a boost from Fulton Financial’s previous quarterly dividend of $0.18. Fulton Financial’s dividend payout ratio is presently 36.54%.

Fulton Financial declared that its board has initiated a share buyback program on Tuesday, December 16th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Keefe, Bruyette & Woods lifted their target price on Fulton Financial from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Wednesday, November 26th. Weiss Ratings raised Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 27th. Finally, DA Davidson started coverage on Fulton Financial in a report on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 target price on the stock. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Fulton Financial currently has a consensus rating of “Hold” and an average target price of $21.50.

Insider Transactions at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction on Monday, January 12th. The shares were sold at an average price of $19.55, for a total transaction of $97,750.00. Following the transaction, the director directly owned 85,477 shares of the company’s stock, valued at $1,671,075.35. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.08% of the stock is currently owned by corporate insiders.

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.