Vanguard Group Inc. Has $400.97 Million Stock Holdings in Fulton Financial Corporation $FULT

Vanguard Group Inc. decreased its stake in Fulton Financial Corporation (NASDAQ:FULT) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,522,785 shares of the bank’s stock after selling 458,024 shares during the quarter. Vanguard Group Inc. owned approximately 11.82% of Fulton Financial worth $400,969,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FULT. Royal Bank of Canada increased its stake 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 acquiring an additional 10,242 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Fulton Financial by 4.6% in the first 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Fulton Financial by 5.1% in 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 worth $8,119,000 after purchasing an additional 21,596 shares during the last quarter. Jane Street Group LLC raised 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 worth $5,576,000 after purchasing an additional 277,871 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Fulton Financial during the 1st quarter worth about $152,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods boosted 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Fulton Financial in a research note on Thursday, January 22nd. Finally, DA Davidson assumed coverage on shares of Fulton Financial in a research note on Wednesday. They set a “neutral” rating and a $24.00 price target on the stock. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.50.

Fulton Financial Stock Up 1.9%

Shares of Fulton Financial stock opened at $21.64 on Friday. Fulton Financial Corporation has a 12-month low of $14.32 and a 12-month high of $22.99. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $20.74 and a two-hundred day moving average price of $19.31. The stock has a market capitalization of $3.91 billion, a P/E ratio of 10.40 and a beta of 0.86.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Wednesday, January 21st. The bank reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The business 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 12.59%. During the same period in the previous year, the company earned $0.48 earnings per share. Equities analysts expect that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial declared that its Board of Directors has approved a stock buyback program on Tuesday, December 16th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Fulton Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.5%. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, December 31st. Fulton Financial’s dividend payout ratio is currently 36.54%.

Fulton Financial 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.