Public Sector Pension Investment Board Buys 90,162 Shares of Fulton Financial Corporation $FULT

Public Sector Pension Investment Board lifted its stake in shares of Fulton Financial Corporation (NASDAQ:FULT) by 14.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 710,275 shares of the bank’s stock after acquiring an additional 90,162 shares during the period. Public Sector Pension Investment Board owned 0.39% of Fulton Financial worth $13,232,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

FULT has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their price objective 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 reissued a “hold (c+)” rating on shares of Fulton Financial in a research report 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. According to data from MarketBeat, Fulton Financial currently has a consensus rating of “Hold” and a consensus price target of $20.50.

Fulton Financial Stock Up 0.5%

Fulton Financial stock opened at $22.03 on Monday. Fulton Financial Corporation has a fifty-two week low of $14.32 and a fifty-two week high of $22.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50-day simple moving average is $20.39 and its 200 day simple moving average is $19.07. The stock has a market cap of $3.98 billion, a PE ratio of 10.59 and a beta of 0.86.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Wednesday, January 21st. The bank reported $0.55 earnings per share (EPS) 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 analyst estimates of $336.80 million. Fulton Financial had a return on equity of 12.59% and a net margin of 20.68%.During the same period in the prior year, the company posted $0.48 earnings per share. Research analysts predict that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Increases Dividend

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

Fulton Financial announced that its board has initiated a share buyback program on Tuesday, December 16th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the bank to purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is 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 dated Monday, January 12th. The shares were 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 $1,671,075.35. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.07% 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.