Fulton Financial Corporation $FULT Holdings Increased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in Fulton Financial Corporation (NASDAQ:FULT) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 651,234 shares of the bank’s stock after acquiring an additional 25,329 shares during the period. Victory Capital Management Inc. owned approximately 0.36% of Fulton Financial worth $12,132,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FULT. EverSource Wealth Advisors LLC lifted its position in Fulton Financial by 373.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the bank’s stock worth $30,000 after purchasing an additional 1,311 shares during the period. State of Wyoming acquired a new position in shares of Fulton Financial during the 2nd quarter valued at $30,000. Jones Financial Companies Lllp raised its stake in shares of Fulton Financial by 48.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,995 shares of the bank’s stock worth $38,000 after buying an additional 647 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Fulton Financial by 1,533.8% in the third quarter. Hantz Financial Services Inc. now owns 2,173 shares of the bank’s stock valued at $40,000 after buying an additional 2,040 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Fulton Financial by 103.7% during the third quarter. Smartleaf Asset Management LLC now owns 7,631 shares of the bank’s stock valued at $143,000 after buying an additional 3,885 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Analyst Upgrades and Downgrades

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

Fulton Financial Stock Down 0.3%

Shares of Fulton Financial stock opened at $19.94 on Thursday. Fulton Financial Corporation has a 12-month low of $14.32 and a 12-month high of $22.99. The firm has a market capitalization of $3.59 billion, a PE ratio of 9.59 and a beta of 0.85. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $20.83 and its 200-day moving average is $19.43.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results 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 firm had revenue of $336.02 million for the quarter, compared to analysts’ expectations of $336.80 million. Fulton Financial had a return on equity of 12.78% and a net margin of 20.68%.During the same quarter last year, the business posted $0.48 EPS. Equities analysts anticipate that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Increases Dividend

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

Fulton Financial declared that its board has authorized a stock repurchase plan on Tuesday, December 16th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows 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.

Insiders Place Their Bets

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $19.55, for a total transaction of $97,750.00. Following the sale, the director directly owned 85,477 shares of the company’s stock, valued at $1,671,075.35. The trade was a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.08% of the company’s stock.

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.