Capitolis Liquid Global Markets LLC Buys New Stake in Fulton Financial Corporation $FULT

Capitolis Liquid Global Markets LLC purchased a new stake in shares of Fulton Financial Corporation (NASDAQ:FULT) during the third quarter, HoldingsChannel reports. The fund purchased 339,400 shares of the bank’s stock, valued at approximately $6,323,000.

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

Fulton Financial Stock Performance

Shares of NASDAQ:FULT opened at $19.65 on Monday. 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 12 month low of $14.32 and a 12 month high of $22.99. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 9.45 and a beta of 0.85. The firm’s 50-day moving average is $20.84 and its 200 day moving average is $19.42.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data 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. Fulton Financial had a net margin of 20.68% and a return on equity of 12.78%. The business had revenue of $336.02 million during the quarter, compared to the consensus estimate of $336.80 million. During the same quarter last year, the firm earned $0.48 earnings per share. Research analysts predict that Fulton Financial Corporation will post 1.91 EPS for the current year.

Fulton Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.19 dividend. The ex-dividend date was Wednesday, December 31st. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 3.9%. Fulton Financial’s dividend payout ratio (DPR) is currently 36.54%.

Fulton Financial announced that its Board of Directors has initiated a share buyback plan on Tuesday, December 16th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the bank to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director owned 85,477 shares in the company, valued at $1,671,075.35. The trade was a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.07% of the company’s stock.

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.