LSV Asset Management Increases Stock Holdings in Fulton Financial Corporation $FULT

LSV Asset Management grew its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT) by 6.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 947,575 shares of the bank’s stock after purchasing an additional 60,200 shares during the period. LSV Asset Management owned about 0.52% of Fulton Financial worth $17,653,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FULT. EJF Capital LLC grew its holdings in shares of Fulton Financial by 2.6% in the second quarter. EJF Capital LLC now owns 22,686 shares of the bank’s stock valued at $409,000 after purchasing an additional 582 shares in the last quarter. Arizona State Retirement System boosted its position in Fulton Financial by 1.2% in the 3rd quarter. Arizona State Retirement System now owns 53,768 shares of the bank’s stock valued at $1,002,000 after buying an additional 623 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Fulton Financial by 48.0% in the third quarter. Jones Financial Companies Lllp now owns 1,995 shares of the bank’s stock worth $38,000 after acquiring an additional 647 shares in the last quarter. Amalgamated Bank increased its position in shares of Fulton Financial by 1.3% during the third quarter. Amalgamated Bank now owns 52,371 shares of the bank’s stock worth $976,000 after acquiring an additional 671 shares during the period. Finally, Raymond James Financial Inc. raised its stake in shares of Fulton Financial by 0.8% in the second quarter. Raymond James Financial Inc. now owns 88,351 shares of the bank’s stock valued at $1,594,000 after acquiring an additional 741 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FULT shares. Keefe, Bruyette & Woods boosted their target price 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Fulton Financial in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Fulton Financial currently has an average rating of “Hold” and an average target price of $20.50.

Insiders Place Their Bets

In other news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction on 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 transaction, the director owned 85,477 shares in the company, valued at approximately $1,671,075.35. This represents a 5.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.08% of the company’s stock.

Fulton Financial Stock Performance

NASDAQ:FULT opened at $22.03 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 debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $3.98 billion, a PE ratio of 10.59 and a beta of 0.86. The business’s fifty day moving average price is $20.39 and its 200 day moving average price is $19.07.

Fulton Financial (NASDAQ:FULT) last released 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 return on equity of 12.59% and a net margin of 20.68%.The business had revenue of $336.02 million during the quarter, compared to analysts’ expectations of $336.80 million. During the same period in the prior year, the firm posted $0.48 EPS. On average, sell-side analysts anticipate that Fulton Financial Corporation will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.19 dividend. This is an increase from Fulton Financial’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, December 31st. Fulton Financial’s payout ratio is currently 36.54%.

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

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.