Nordea Investment Management AB Buys 148,399 Shares of Fulton Financial Corporation $FULT

Nordea Investment Management AB boosted its position in shares of Fulton Financial Corporation (NASDAQ:FULT) by 25.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 737,737 shares of the bank’s stock after acquiring an additional 148,399 shares during the period. Nordea Investment Management AB’s holdings in Fulton Financial were worth $14,327,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FULT. Royal Bank of Canada boosted its position in shares of Fulton Financial by 4.9% in the first quarter. Royal Bank of Canada now owns 220,706 shares of the bank’s stock worth $3,992,000 after purchasing an additional 10,242 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Fulton Financial by 4.6% during 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 purchasing an additional 4,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 purchasing an additional 21,596 shares during the period. Jane Street Group LLC lifted its stake 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 buying 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. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Price Performance

FULT stock opened at $20.01 on Wednesday. Fulton Financial Corporation has a one year low of $14.32 and a one year high of $22.99. The company’s fifty day moving average price is $20.82 and its 200-day moving average price is $19.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $3.60 billion, a PE ratio of 9.62 and a beta of 0.85.

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 during the quarter, compared to analysts’ expectations of $336.80 million. Fulton Financial had a net margin of 20.68% and a return on equity of 12.78%. During the same period last year, the company posted $0.48 earnings per share. On average, equities analysts anticipate that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial declared that its board has authorized a stock repurchase plan on Tuesday, December 16th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the bank to buy up to 4.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, April 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.8%. Fulton Financial’s dividend payout ratio (DPR) is presently 36.54%.

Insider Buying and Selling at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $19.55, for a total value of $97,750.00. Following the sale, the director directly owned 85,477 shares of the company’s stock, valued at approximately $1,671,075.35. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FULT shares. DA Davidson started coverage on Fulton Financial in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 price target for the company. Weiss Ratings upgraded Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. Finally, Keefe, Bruyette & Woods upped their price objective 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. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.50.

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.