Fulton Financial Corporation $FULT Shares Sold by American Century Companies Inc.

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. cut its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,599,136 shares of the bank's stock after selling 105,382 shares during the period. American Century Companies Inc. owned 1.43% of Fulton Financial worth $47,018,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FULT. GAMMA Investing LLC increased its position in shares of Fulton Financial by 42.2% during the first quarter. GAMMA Investing LLC now owns 3,072 shares of the bank's stock worth $56,000 after purchasing an additional 911 shares in the last quarter. Byrne Asset Management LLC increased its position in shares of Fulton Financial by 114.5% during the first quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank's stock worth $58,000 after purchasing an additional 1,717 shares in the last quarter. Blue Trust Inc. increased its position in shares of Fulton Financial by 15.1% during the first quarter. Blue Trust Inc. now owns 5,728 shares of the bank's stock worth $104,000 after purchasing an additional 752 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Fulton Financial by 850.1% in the 4th quarter. Sterling Capital Management LLC now owns 5,843 shares of the bank's stock valued at $113,000 after acquiring an additional 5,228 shares during the period. Finally, TD Private Client Wealth LLC increased its position in shares of Fulton Financial by 21.5% in the 1st quarter. TD Private Client Wealth LLC now owns 8,377 shares of the bank's stock valued at $152,000 after acquiring an additional 1,483 shares during the period. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Price Performance

NASDAQ:FULT opened at $18.61 on Wednesday. Fulton Financial Corporation has a one year low of $14.32 and a one year high of $22.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 10.88 and a beta of 0.82. The firm's fifty day moving average is $18.36 and its two-hundred day moving average is $18.06.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.43 by $0.12. Fulton Financial had a net margin of 17.00% and a return on equity of 12.64%. The company had revenue of $328.45 million for the quarter, compared to analyst estimates of $320.47 million. During the same period in the prior year, the company earned $0.52 earnings per share. Research analysts expect that Fulton Financial Corporation will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, July 1st. Fulton Financial's dividend payout ratio is presently 42.11%.

Insider Buying and Selling

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $18.41, for a total value of $92,050.00. Following the sale, the director directly owned 599,102 shares of the company's stock, valued at approximately $11,029,467.82. This represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FULT shares. Keefe, Bruyette & Woods upped their target price on Fulton Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a research report on Thursday, July 17th. Piper Sandler reissued a "neutral" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Jefferies Financial Group reissued a "hold" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Finally, DA Davidson upped their target price on Fulton Financial from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $21.13.

Fulton Financial Company 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.

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