Louisiana State Employees Retirement System acquired a new stake in Fulton Financial Corporation (NASDAQ:FULT – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 79,800 shares of the bank’s stock, valued at approximately $1,623,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in shares of Fulton Financial by 2.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 23,924 shares of the bank’s stock worth $467,000 after buying an additional 580 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Fulton Financial by 16.8% in the fourth quarter. GAMMA Investing LLC now owns 4,262 shares of the bank’s stock worth $82,000 after buying an additional 613 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Fulton Financial by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 99,907 shares of the bank’s stock worth $1,930,000 after acquiring an additional 678 shares during the last quarter. Raymond James Financial Inc. grew its stake in Fulton Financial by 0.8% during the 2nd quarter. Raymond James Financial Inc. now owns 88,351 shares of the bank’s stock valued at $1,594,000 after acquiring an additional 741 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Fulton Financial by 39.1% in the 4th quarter. Covestor Ltd now owns 2,700 shares of the bank’s stock valued at $52,000 after acquiring an additional 759 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.
Fulton Financial Stock Up 1.1%
Shares of NASDAQ FULT opened at $24.46 on Thursday. The company has a market capitalization of $4.68 billion, a P/E ratio of 11.65 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50 day simple moving average of $22.14 and a 200-day simple moving average of $21.15. Fulton Financial Corporation has a 1 year low of $16.60 and a 1 year high of $24.55.
Fulton Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Fulton Financial’s dividend payout ratio is 36.19%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on FULT. Raymond James Financial boosted their target price on Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday. Piper Sandler set a $23.00 price target on Fulton Financial and gave the company a “neutral” rating in a report on Friday, June 12th. Wall Street Zen downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research report on Sunday, May 3rd. Finally, Weiss Ratings upgraded Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.50.
Read Our Latest Research Report on FULT
Insider Activity at Fulton Financial
In other news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $21.42, for a total transaction of $107,100.00. Following the completion of the transaction, the director directly owned 80,477 shares in the company, valued at approximately $1,723,817.34. This represents a 5.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.01% of the stock is currently owned by company insiders.
Fulton Financial Profile
Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.
Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.
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