Fulton Financial Corporation $FULT Position Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in Fulton Financial Corporation (NASDAQ:FULT) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 651,234 shares of the bank’s stock after purchasing an additional 25,329 shares during the period. Victory Capital Management Inc.’s holdings in Fulton Financial were worth $12,132,000 as of its most recent SEC filing.

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

Fulton Financial Stock Down 0.3%

FULT stock opened at $19.94 on Thursday. The firm has a market cap of $3.59 billion, a PE ratio of 9.59 and a beta of 0.85. Fulton Financial Corporation has a 1 year low of $14.32 and a 1 year high of $22.99. The company has a fifty day simple moving average of $20.83 and a 200 day simple moving average of $19.43. 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 (NASDAQ:FULT) last posted its earnings results on Wednesday, January 21st. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The company 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 last year, the company earned $0.48 earnings per share. Sell-side analysts anticipate that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This is an increase from Fulton Financial’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 3.8%. Fulton Financial’s dividend payout ratio (DPR) is currently 36.54%.

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

Analyst Ratings Changes

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

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $19.55, for a total transaction of $97,750.00. Following the transaction, the director owned 85,477 shares in the company, valued at $1,671,075.35. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.08% of the stock is owned by insiders.

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.