American Century Companies Inc. Has $47.02 Million Stock Position in Fulton Financial Corporation $FULT

Key Points

• American Century Companies Inc. has decreased its stake in Fulton Financial Corporation by 3.9%, now owning 1.43% of the company, valued at approximately $47 million.
• Fulton Financial recently achieved a quarterly earnings report with an EPS of $0.55, exceeding analyst expectations of $0.43.
• The company declared a quarterly dividend of $0.18 per share, resulting in an annualized yield of 3.9%.

American Century Companies Inc. lowered its position in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,599,136 shares of the bank's stock after selling 105,382 shares during the quarter. American Century Companies Inc. owned 1.43% of Fulton Financial worth $47,018,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its holdings in Fulton Financial by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,303 shares of the bank's stock worth $657,000 after purchasing an additional 684 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Fulton Financial in the 1st quarter valued at $287,000. Silver Oak Securities Incorporated bought a new stake in shares of Fulton Financial in the 1st quarter valued at $333,000. New York State Teachers Retirement System raised its stake in Fulton Financial by 1.3% during the 1st quarter. New York State Teachers Retirement System now owns 240,935 shares of the bank's stock worth $4,359,000 after buying an additional 2,985 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Fulton Financial by 50.1% during the fourth quarter. Deutsche Bank AG now owns 154,894 shares of the bank's stock worth $2,986,000 after acquiring an additional 51,670 shares in the last quarter. Institutional investors own 72.02% of the company's stock.

Fulton Financial Stock Down 0.1%

Fulton Financial stock traded down $0.01 during midday trading on Monday, reaching $19.63. The stock had a trading volume of 1,437,866 shares, compared to its average volume of 1,548,379. The stock has a market capitalization of $3.57 billion, a P/E ratio of 11.48 and a beta of 0.82. The firm's fifty day simple moving average is $18.50 and its 200-day simple moving average is $18.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 0.92. Fulton Financial Corporation has a 1-year low of $14.32 and a 1-year high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The bank reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.12. Fulton Financial had a return on equity of 12.64% and a net margin of 17.00%.The firm had revenue of $328.45 million during the quarter, compared to the consensus estimate of $320.47 million. During the same quarter in the prior year, the firm posted $0.52 EPS. As a group, analysts expect 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 was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, July 1st. Fulton Financial's payout ratio is presently 42.11%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FULT. Piper Sandler reissued a "neutral" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. DA Davidson boosted their price objective on Fulton Financial from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods increased their target price on Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Finally, Jefferies Financial Group restated a "hold" rating on shares of Fulton Financial in a report on Wednesday, July 9th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Fulton Financial has an average rating of "Hold" and a consensus target price of $21.13.

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $18.41, for a total transaction of $92,050.00. Following the sale, the director directly owned 599,102 shares of the company's stock, valued at $11,029,467.82. The trade was a 0.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.07% of the company's stock.

Fulton Financial Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.