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

New York State Common Retirement Fund lifted its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 15.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 546,026 shares of the bank’s stock after purchasing an additional 74,993 shares during the period. New York State Common Retirement Fund’s holdings in Fulton Financial were worth $10,527,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB lifted its position in Fulton Financial by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 567,790 shares of the bank’s stock worth $11,007,000 after buying an additional 34,844 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Fulton Financial by 130.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank’s stock worth $10,104,000 after acquiring an additional 315,435 shares during the last quarter. EMC Capital Management raised its holdings in shares of Fulton Financial by 151.2% during the 4th quarter. EMC Capital Management now owns 22,607 shares of the bank’s stock worth $436,000 after acquiring an additional 13,607 shares during the period. Allworth Financial LP boosted its position in shares of Fulton Financial by 1,255.1% during the 4th quarter. Allworth Financial LP now owns 20,381 shares of the bank’s stock valued at $420,000 after acquiring an additional 18,877 shares during the last quarter. Finally, Apollon Wealth Management LLC acquired a new position in shares of Fulton Financial during the 4th quarter valued at about $329,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the transaction, the chief executive officer now owns 155,946 shares in the company, valued at $3,299,817.36. The trade was a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Angela M. Snyder sold 13,322 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares in the company, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on FULT. Hovde Group lifted their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods lifted their price target on shares of Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, January 23rd. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 23rd. DA Davidson raised their target price on Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Stephens upgraded Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.64.

Fulton Financial Stock Down 1.7 %

Shares of NASDAQ FULT opened at $19.35 on Tuesday. Fulton Financial Co. has a 52-week low of $13.87 and a 52-week high of $22.49. The business’s 50 day moving average is $20.10 and its two-hundred day moving average is $19.42. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 12.32 and a beta of 0.79. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.06. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same quarter last year, the business posted $0.42 EPS. Research analysts predict that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.18 dividend. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.72 annualized dividend and a dividend yield of 3.72%. Fulton Financial’s dividend payout ratio (DPR) is presently 45.86%.

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.