GSA Capital Partners LLP Buys New Shares in Fulton Financial Corporation $FULT

GSA Capital Partners LLP bought a new stake in Fulton Financial Corporation (NASDAQ:FULT) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 85,023 shares of the bank’s stock, valued at approximately $1,584,000.

Several other large investors also recently modified their holdings of FULT. First Trust Advisors LP grew its holdings in shares of Fulton Financial by 42.4% during the 2nd quarter. First Trust Advisors LP now owns 5,626,858 shares of the bank’s stock worth $101,509,000 after purchasing an additional 1,676,495 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Fulton Financial by 1.1% in the second quarter. Geode Capital Management LLC now owns 4,587,133 shares of the bank’s stock worth $82,760,000 after purchasing an additional 50,122 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Fulton Financial by 10.0% in the second quarter. American Century Companies Inc. now owns 2,859,152 shares of the bank’s stock valued at $51,579,000 after buying an additional 260,016 shares during the period. Norges Bank bought a new position in Fulton Financial during the second quarter worth $37,813,000. Finally, Fulton Bank N.A. grew its stake in Fulton Financial by 1.6% during the third quarter. Fulton Bank N.A. now owns 1,732,904 shares of the bank’s stock worth $32,284,000 after purchasing an additional 27,570 shares during the period. 72.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FULT shares. Keefe, Bruyette & Woods upped their price target on Fulton Financial from $20.00 to $21.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Fulton Financial in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Fulton Financial presently has an average rating of “Hold” and an average price target of $20.50.

Insider Buying and Selling at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction on Monday, January 12th. The stock was sold at an average price of $19.55, for a total value of $97,750.00. Following the completion of the transaction, the director owned 85,477 shares in the company, valued at approximately $1,671,075.35. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.08% of the stock is owned by corporate insiders.

Fulton Financial Price Performance

FULT stock opened at $22.12 on Wednesday. The firm has a market cap of $3.99 billion, a P/E ratio of 10.63 and a beta of 0.86. Fulton Financial Corporation has a 52 week low of $14.32 and a 52 week high of $22.99. The firm’s fifty day moving average is $20.52 and its 200 day moving average is $19.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Wednesday, January 21st. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. The business 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 12.59% and a net margin of 20.68%.During the same period last year, the company earned $0.48 EPS. Research analysts predict that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, December 31st. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.18. Fulton Financial’s payout ratio is presently 36.54%.

Fulton Financial declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 16th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the bank to purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.