Louisiana State Employees Retirement System lessened its stake in Fulton Financial Corporation (NASDAQ:FULT – Free Report) by 1.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 84,900 shares of the bank’s stock after selling 900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Fulton Financial were worth $1,532,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Fulton Financial by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,303 shares of the bank’s stock valued at $657,000 after buying an additional 684 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Fulton Financial during the first quarter worth approximately $287,000. Silver Oak Securities Incorporated purchased a new stake in Fulton Financial during the first quarter worth approximately $333,000. New York State Teachers Retirement System lifted its stake in Fulton Financial by 1.3% during the first quarter. New York State Teachers Retirement System now owns 240,935 shares of the bank’s stock worth $4,359,000 after purchasing an additional 2,985 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in 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 during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.
Wall Street Analysts Forecast Growth
FULT has been the subject of several recent analyst reports. Piper Sandler restated a “neutral” rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Raymond James Financial upgraded Fulton Financial from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, October 7th. Jefferies Financial Group restated a “hold” rating on shares of Fulton Financial in a research note on Wednesday, July 9th. DA Davidson boosted their target price on Fulton Financial from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Zacks Research cut Fulton Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.10.
Fulton Financial Trading Down 5.6%
FULT opened at $17.31 on Monday. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 10.12 and a beta of 0.82. Fulton Financial Corporation has a 52 week low of $14.32 and a 52 week high of $22.49. The business’s 50 day moving average is $18.83 and its two-hundred day moving average is $17.99. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.37.
Fulton Financial (NASDAQ:FULT – Get Free Report) last released its quarterly earnings results on Tuesday, November 8th. The bank reported $0.45 EPS for the quarter. The company had revenue of $236.96 million for the quarter. Fulton Financial had a return on equity of 12.64% and a net margin of 17.00%. On average, research analysts predict that Fulton Financial Corporation will post 1.91 EPS for the current year.
Fulton Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.72 annualized dividend and a yield of 4.2%. Fulton Financial’s payout ratio is 42.11%.
Insider Buying and Selling
In other news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $19.28, for a total value of $96,400.00. Following the transaction, the director owned 90,477 shares of the company’s stock, valued at approximately $1,744,396.56. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.07% of the stock is currently owned by company insiders.
About Fulton Financial
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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