Fulton Bank N.A. Sells 531,626 Shares of Fulton Financial Corporation $FULT

Fulton Bank N.A. lowered its stake in Fulton Financial Corporation (NASDAQ:FULT) by 30.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,201,278 shares of the bank’s stock after selling 531,626 shares during the period. Fulton Financial makes up approximately 0.8% of Fulton Bank N.A.’s holdings, making the stock its 28th largest holding. Fulton Bank N.A. owned about 0.67% of Fulton Financial worth $23,221,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada grew its position in Fulton Financial by 4.9% during the 1st quarter. Royal Bank of Canada now owns 220,706 shares of the bank’s stock worth $3,992,000 after acquiring an additional 10,242 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Fulton Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,096 shares of the bank’s stock worth $1,955,000 after purchasing an additional 4,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Fulton Financial by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 448,832 shares of the bank’s stock valued at $8,119,000 after purchasing an additional 21,596 shares during the last quarter. Jane Street Group LLC lifted its position in Fulton Financial by 914.9% in the first quarter. Jane Street Group LLC now owns 308,243 shares of the bank’s stock valued at $5,576,000 after purchasing an additional 277,871 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Fulton Financial during the first quarter valued at approximately $152,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Price Performance

Shares of FULT stock opened at $19.62 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial Corporation has a fifty-two week low of $14.32 and a fifty-two week high of $22.99. The firm has a market cap of $3.53 billion, a P/E ratio of 9.43 and a beta of 0.85. The business’s 50 day moving average price is $20.80 and its 200-day moving average price is $19.42.

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

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

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a $0.19 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $0.76 annualized dividend and a yield of 3.9%. Fulton Financial’s dividend payout ratio is 36.54%.

Insider Activity at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,671,075.35. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.07% of the company’s stock.

Analysts Set New Price Targets

FULT has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 27th. DA Davidson began coverage on shares of Fulton Financial in a report on Wednesday, February 25th. They set a “neutral” rating and a $24.00 price target for the company. Finally, Keefe, Bruyette & Woods raised their price target on shares of Fulton Financial from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Wednesday, November 26th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.50.

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.