Illinois Municipal Retirement Fund Reduces Holdings in Fulton Financial Co. (NASDAQ:FULT)

Illinois Municipal Retirement Fund trimmed its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,942 shares of the bank’s stock after selling 5,081 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Fulton Financial were worth $1,497,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. grew its position in shares of Fulton Financial by 8.4% during the 4th quarter. Federated Hermes Inc. now owns 118,284 shares of the bank’s stock valued at $1,947,000 after acquiring an additional 9,151 shares during the period. Everence Capital Management Inc. purchased a new position in Fulton Financial during the fourth quarter valued at $239,000. Strs Ohio bought a new stake in Fulton Financial during the fourth quarter valued at about $29,000. Louisiana State Employees Retirement System purchased a new stake in Fulton Financial in the fourth quarter worth about $1,353,000. Finally, Morton Brown Family Wealth LLC purchased a new stake in Fulton Financial in the fourth quarter worth about $26,000. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Stock Up 0.4 %

Shares of FULT opened at $15.62 on Friday. The business’s 50 day moving average is $15.30 and its 200 day moving average is $15.01. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. Fulton Financial Co. has a 12-month low of $9.64 and a 12-month high of $17.06. The company has a market capitalization of $2.53 billion, a PE ratio of 9.70 and a beta of 0.81.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Thursday, March 28th. Fulton Financial’s payout ratio is currently 42.24%.

Analyst Ratings Changes

FULT has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a research note on Thursday, January 18th. Jefferies Financial Group lowered their price target on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Stephens reduced their price objective on shares of Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating for the company in a research note on Thursday, April 18th. Finally, StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, Fulton Financial presently has an average rating of “Hold” and an average price target of $16.17.

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.