Citigroup Inc. Sells 64,997 Shares of Fulton Financial Corporation $FULT

Citigroup Inc. lessened its stake in Fulton Financial Corporation (NASDAQ:FULT) by 21.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 234,999 shares of the bank’s stock after selling 64,997 shares during the quarter. Citigroup Inc. owned approximately 0.13% of Fulton Financial worth $4,378,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in Fulton Financial by 373.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the bank’s stock worth $30,000 after acquiring an additional 1,311 shares in the last quarter. State of Wyoming acquired a new position in shares of Fulton Financial during the 2nd quarter worth about $30,000. Jones Financial Companies Lllp raised its holdings in shares of Fulton Financial by 48.0% in the 3rd 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. lifted its stake in Fulton Financial by 1,533.8% in the 3rd 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 last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Fulton Financial by 103.7% during the third quarter. Smartleaf Asset Management LLC now owns 7,631 shares of the bank’s stock worth $143,000 after purchasing an additional 3,885 shares during the period. 72.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Fulton Financial

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

Fulton Financial Price Performance

Shares of NASDAQ FULT opened at $21.10 on Thursday. The firm has a market cap of $3.80 billion, a P/E ratio of 10.14 and a beta of 0.85. The business’s 50 day moving average is $20.79 and its 200-day moving average is $19.38. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.08. Fulton Financial Corporation has a 1-year low of $14.32 and a 1-year high of $22.99.

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

Fulton Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.19 dividend. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, December 31st. This represents a $0.76 annualized dividend and a yield of 3.6%. Fulton Financial’s dividend payout ratio is presently 36.54%.

Fulton Financial announced that its board has authorized a share repurchase plan on Tuesday, December 16th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the bank to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Fulton Financial Company 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.