JPMorgan Chase & Co. Purchases 191,764 Shares of Fulton Financial Corporation $FULT

JPMorgan Chase & Co. increased its holdings in Fulton Financial Corporation (NASDAQ:FULT) by 46.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 603,553 shares of the bank’s stock after buying an additional 191,764 shares during the period. JPMorgan Chase & Co.’s holdings in Fulton Financial were worth $11,244,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FULT. CIBC Bancorp USA Inc. bought a new position in Fulton Financial in the 3rd quarter worth about $363,000. Faithward Advisors LLC boosted its position in shares of Fulton Financial by 9.3% during the 3rd quarter. Faithward Advisors LLC now owns 39,705 shares of the bank’s stock valued at $740,000 after acquiring an additional 3,386 shares during the last quarter. Danske Bank A S purchased a new position in shares of Fulton Financial during the third quarter worth about $58,000. Advisory Services Network LLC purchased a new position in shares of Fulton Financial during the third quarter worth about $38,000. Finally, NewEdge Advisors LLC increased its position in shares of Fulton Financial by 8,870.3% in the third quarter. NewEdge Advisors LLC now owns 23,861 shares of the bank’s stock worth $445,000 after purchasing an additional 23,595 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Trading Down 2.4%

Shares of FULT stock opened at $19.68 on Friday. The business has a 50-day moving average price of $20.83 and a two-hundred day moving average price of $19.44. 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 0.08. The firm has a market cap of $3.54 billion, a P/E ratio of 9.46 and a beta of 0.85.

Fulton Financial (NASDAQ:FULT) last announced 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 firm had revenue of $336.02 million for the quarter, compared to analyst estimates of $336.80 million. Fulton Financial had a return on equity of 12.78% and a net margin of 20.68%.During the same period in the prior year, the company earned $0.48 EPS. Equities analysts anticipate that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Wednesday, April 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 36.54%.

Fulton Financial announced that its board has authorized a stock repurchase program on Tuesday, December 16th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the bank to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FULT shares. DA Davidson started coverage on shares of Fulton Financial in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 target price on the stock. Weiss Ratings raised 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 issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.50.

Insider Activity at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction that occurred 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 transaction, the director directly owned 85,477 shares of the company’s stock, valued at approximately $1,671,075.35. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.08% of the company’s stock.

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.