Fulton Financial Co. (NASDAQ:FULT) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its position in Fulton Financial Co. (NASDAQ:FULT) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,900 shares of the bank’s stock after selling 3,500 shares during the period. Louisiana State Employees Retirement System’s holdings in Fulton Financial were worth $1,594,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Family Firm Inc. acquired a new position in shares of Fulton Financial in the second quarter valued at approximately $46,000. Coston McIsaac & Partners acquired a new position in shares of Fulton Financial in the third quarter valued at approximately $54,000. Blue Trust Inc. raised its position in shares of Fulton Financial by 21.9% in the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after buying an additional 691 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Fulton Financial in the first quarter valued at approximately $66,000. Finally, AE Wealth Management LLC acquired a new position in shares of Fulton Financial in the second quarter valued at approximately $172,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Wall Street Analyst Weigh In

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

Fulton Financial Stock Performance

NASDAQ:FULT opened at $18.11 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. The company has a market cap of $3.29 billion, a P/E ratio of 11.46 and a beta of 0.73. Fulton Financial Co. has a fifty-two week low of $12.75 and a fifty-two week high of $20.33. The firm’s 50 day moving average is $18.12 and its two-hundred day moving average is $17.44.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.14%. The company had revenue of $487.33 million during the quarter, compared to analyst estimates of $321.00 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. Analysts expect that Fulton Financial Co. will post 1.75 EPS for the current year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Tuesday, October 1st. Fulton Financial’s payout ratio is currently 43.04%.

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.