Fulton Financial Co. (NASDAQ:FULT) Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its position in Fulton Financial Co. (NASDAQ:FULT) by 5.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 237,950 shares of the bank’s stock after buying an additional 12,350 shares during the quarter. New York State Teachers Retirement System’s holdings in Fulton Financial were worth $4,314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Family Firm Inc. acquired a new stake in shares of Fulton Financial in the second quarter valued at approximately $46,000. Coston McIsaac & Partners acquired a new stake in Fulton Financial in the 3rd quarter valued at approximately $54,000. Blue Trust Inc. raised its stake in Fulton Financial by 21.9% during the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after acquiring an additional 691 shares in the last quarter. Headlands Technologies LLC bought a new stake in Fulton Financial during the 1st quarter valued at $66,000. Finally, AE Wealth Management LLC bought a new position in shares of Fulton Financial in the second quarter worth $172,000. 72.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FULT. Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a research note on Thursday, October 17th. StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.83.

Fulton Financial Trading Up 16.3 %

Shares of FULT stock opened at $21.37 on Thursday. The stock has a 50-day simple moving average of $18.06 and a 200 day simple moving average of $17.56. The stock has a market capitalization of $3.89 billion, a P/E ratio of 13.53 and a beta of 0.73. Fulton Financial Co. has a fifty-two week low of $13.19 and a fifty-two week high of $21.47. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. The company had revenue of $487.33 million during the quarter, compared to analyst estimates of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.14%. During the same quarter last year, the firm posted $0.43 EPS. On average, sell-side analysts expect that Fulton Financial Co. will post 1.75 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s dividend payout ratio is presently 43.04%.

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.