Legato Capital Management LLC Has $949,000 Stock Position in Fulton Financial Corporation $FULT

Legato Capital Management LLC grew its stake in Fulton Financial Corporation (NASDAQ:FULT) by 121.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,961 shares of the bank’s stock after buying an additional 27,950 shares during the quarter. Legato Capital Management LLC’s holdings in Fulton Financial were worth $949,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in Fulton Financial by 4.9% in the 1st quarter. Royal Bank of Canada now owns 220,706 shares of the bank’s stock valued at $3,992,000 after acquiring an additional 10,242 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Fulton Financial by 4.6% in 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 lifted its holdings in shares of Fulton Financial by 5.1% in the first 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 in the last quarter. Jane Street Group LLC boosted its position in shares of Fulton Financial by 914.9% during the first quarter. Jane Street Group LLC now owns 308,243 shares of the bank’s stock worth $5,576,000 after buying an additional 277,871 shares during the period. Finally, Strs Ohio bought a new position in shares of Fulton Financial during the first quarter worth about $152,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Down 0.7%

NASDAQ:FULT opened at $20.74 on Wednesday. Fulton Financial Corporation has a twelve month low of $14.32 and a twelve month high of $22.99. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 9.97 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 0.14. The stock’s 50 day moving average price is $20.77 and its two-hundred day moving average price is $19.37.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $0.55 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 the consensus estimate of $336.80 million. Fulton Financial had a return on equity of 12.59% and a net margin of 20.68%.During the same quarter in the prior year, the firm posted $0.48 EPS. Equities research analysts expect that Fulton Financial Corporation will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a $0.19 dividend. This is a boost 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 3.7%. Fulton Financial’s payout ratio is 36.54%.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the company’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 sale, the director directly owned 85,477 shares of the company’s stock, valued at approximately $1,671,075.35. This represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.07% of the stock is owned by corporate insiders.

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.