Fulton Financial Corporation $FULT Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its stake in Fulton Financial Corporation (NASDAQ:FULT) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,900 shares of the bank’s stock after selling 900 shares during the period. Louisiana State Employees Retirement System’s holdings in Fulton Financial were worth $1,532,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FULT. Nuveen LLC acquired a new position in shares of Fulton Financial in the first quarter valued at approximately $17,263,000. Jane Street Group LLC boosted its stake in shares of Fulton Financial by 914.9% in the first quarter. Jane Street Group LLC now owns 308,243 shares of the bank’s stock valued at $5,576,000 after buying an additional 277,871 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Fulton Financial by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 577,492 shares of the bank’s stock valued at $10,447,000 after buying an additional 124,019 shares in the last quarter. Stewardship Advisors LLC boosted its stake in shares of Fulton Financial by 411.1% in the first quarter. Stewardship Advisors LLC now owns 90,216 shares of the bank’s stock valued at $1,632,000 after buying an additional 72,563 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Fulton Financial by 151.8% in the first quarter. SG Americas Securities LLC now owns 116,535 shares of the bank’s stock valued at $2,108,000 after buying an additional 70,253 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Stock Down 5.6%

FULT opened at $17.31 on Monday. The business’s fifty day moving average is $18.83 and its two-hundred day moving average is $17.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 0.92. The company 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 one year low of $14.32 and a one year high of $22.49.

Fulton Financial (NASDAQ:FULT) last posted its 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%. Analysts anticipate that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently announced 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. This represents a $0.72 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, October 1st. Fulton Financial’s payout ratio is presently 42.11%.

Insider Buying and Selling

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $19.28, for a total transaction of $96,400.00. Following the sale, the director directly owned 90,477 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.07% of the company’s stock.

Wall Street Analyst Weigh In

FULT has been the topic of a number of analyst reports. Raymond James Financial upgraded Fulton Financial from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock 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. Piper Sandler restated a “neutral” rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Zacks Research downgraded Fulton Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Finally, DA Davidson lifted their price target on Fulton Financial from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Fulton Financial currently has an average rating of “Hold” and a consensus price target of $21.10.

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.