FULLER & THALER ASSET MANAGEMENT, INC. Buys 3, Sells 2 in 2nd Quarter

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Aug 13, 2022
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FULLER & THALER ASSET MANAGEMENT, INC. recently filed their 13F report for the second quarter of 2022, which ended on 2022-06-30.

The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.

Fuller & Thaler Asset Management, Inc is an investment management firm based out of San Mateo California. The company is owned by its employees and was originally established by its namesake cofounders in 1993. Fuller & Thaler Asset Management has grown from its inception to now operate with 16 employees, managing a total of 61 accounts, all of which are discretionary, that total up to over $2.8 billion in total assets. Both of its total number of accounts and total assets under management have been increasing in recent years with its total assets under management growing significantly from just over $1 billion five years ago to approaching three times that amount today. Fuller & Thaler Asset Management utilizes a bottom up investment approach with fundamental analysis, investing in the growth and value stocks of micro to small cap companies. The company invests in the public equity markets on a global scale, benchmarking its performance against a variety of Russell, EAFE, and other indexes. Fuller & Thaler Asset Management invests most heavily in the finance sector, which alone makes up almost a quarter of its total asset allocations, and also invests in the industrials, information technology, real estate, consumer discretionary, health care, utilities and telecommunications, and materials sectors, among other sectors to a lesser degree, in order of decreasing allocation. The company’s top 10 holdings make up just over a fifth of its total holdings and the company had a relatively high turnover rate of approximately 53.6% in the most recent quarter. Fuller & Thaler Asset Management mainly caters to high net worth individuals, which alone makes up over half of its client base, and also provides to pension and profit sharing plans, charities, investment companies, pooled investment vehicles, and corporations and other businesses, among others, in order of decreasing clientele.

As of the latest 13F report, the guru’s equity portfolio contained 490 stocks valued at a total of $14.53Bil. The top holdings were GPK(3.00%), FNB(2.02%), and ONB(1.78%).

According to GuruFocus data, these were FULLER & THALER ASSET MANAGEMENT, INC.’s top five trades of the quarter.

Citizens Financial Group Inc


The guru established a new position worth 4,177,123 shares in NYSE:CFG, giving the stock a 1.03% weight in the equity portfolio. Shares traded for an average price of $39.58 during the quarter.

On 08/13/2022, Citizens Financial Group Inc traded for a price of $39.91 per share and a market cap of $19.78Bil. The stock has returned -8.39% over the past year.

GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 5 out of 10.

In terms of valuation, Citizens Financial Group Inc has a price-earnings ratio of 10.17, a price-book ratio of 0.87, a price-earnings-to-growth (PEG) ratio of 1.70 and a price-sales ratio of 2.52.

The price-to-GF Value ratio is 0.95, earning the stock a GF Value rank of 9.

Investors Bancorp Inc


The guru sold out of their 9,823,037-share investment in NAS:ISBC. Previously, the stock had a 0.87% weight in the equity portfolio. Shares traded for an average price of $14.31 during the quarter.

On 08/13/2022, Investors Bancorp Inc traded for a price of $13.87 per share and a market cap of $3.46Bil. The stock has returned 0.14% over the past year.

GuruFocus gives the company a financial strength rating of 2 out of 10 and a profitability rating of 6 out of 10.

In terms of valuation, Investors Bancorp Inc has a price-earnings ratio of 10.43, a price-book ratio of 1.17, a price-earnings-to-growth (PEG) ratio of 3.48 and a price-sales ratio of 3.92.

The price-to-GF Value ratio is 0.87, earning the stock a GF Value rank of 10.

Healthcare Realty Trust Inc


The guru established a new position worth 3,814,604 shares in FRA:HT0, giving the stock a 0.71% weight in the equity portfolio. Shares traded for an average price of €25.84 during the quarter.

On 08/13/2022, Healthcare Realty Trust Inc traded for a price of €25.22 per share and a market cap of €9.89Bil. The stock has returned 3.59% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 6 out of 10.

In terms of valuation, Healthcare Realty Trust Inc has a price-earnings ratio of 59.25, a price-book ratio of 1.82, a price-earnings-to-growth (PEG) ratio of 118.50, a EV-to-Ebitda ratio of 35.84 and a price-sales ratio of 6.84.

The price-to-GF Value ratio is 0.72, earning the stock a GF Value rank of 4.

First Horizon Corp


During the quarter, FULLER & THALER ASSET MANAGEMENT, INC. bought 4,425,759 shares of NYSE:FHN for a total holding of 11,415,887. The trade had a 0.67% impact on the equity portfolio. During the quarter, the stock traded for an average price of $22.49.

On 08/13/2022, First Horizon Corp traded for a price of $23.19 per share and a market cap of $12.44Bil. The stock has returned 45.24% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 5 out of 10.

In terms of valuation, First Horizon Corp has a price-earnings ratio of 16.10, a price-book ratio of 1.72, a price-earnings-to-growth (PEG) ratio of 2.56 and a price-sales ratio of 4.52.

The price-to-GF Value ratio is 1.57, earning the stock a GF Value rank of 1.

Healthcare Realty Trust Inc


The guru sold out of their 4,113,821-share investment in NYSE:HR. Previously, the stock had a 0.67% weight in the equity portfolio. Shares traded for an average price of $27.93 during the quarter.

On 08/13/2022, Healthcare Realty Trust Inc traded for a price of $26.34 per share and a market cap of $10.02Bil. The stock has returned -8.66% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Healthcare Realty Trust Inc has a price-earnings ratio of 59.86, a price-book ratio of 1.83, a price-earnings-to-growth (PEG) ratio of 119.72, a EV-to-Ebitda ratio of 36.14 and a price-sales ratio of 6.91.

The price-to-GF Value ratio is 0.74, earning the stock a GF Value rank of 8.


Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.

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