New York State Teachers Retirement System Trims Position in Fulton Financial Corporation $FULT

New York State Teachers Retirement System reduced its stake in shares of Fulton Financial Corporation (NASDAQ:FULT) by 11.7% during the first quarter, Holdings Channel reports. The firm owned 226,921 shares of the bank’s stock after selling 30,031 shares during the quarter. New York State Teachers Retirement System’s holdings in Fulton Financial were worth $4,616,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Keybank National Association OH boosted its stake in shares of Fulton Financial by 1.5% during the 1st quarter. Keybank National Association OH now owns 32,887 shares of the bank’s stock valued at $669,000 after purchasing an additional 485 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Fulton Financial by 2.5% in 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 during the period. Root Financial Partners LLC boosted its position in Fulton Financial by 89.9% during the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after acquiring an additional 607 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Fulton Financial by 16.8% in the 4th quarter. GAMMA Investing LLC now owns 4,262 shares of the bank’s stock worth $82,000 after acquiring an additional 613 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Fulton Financial by 0.7% in the 4th 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 in the last quarter. 72.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FULT has been the topic of several recent research reports. Piper Sandler set a $23.00 price target on Fulton Financial and gave the stock a “neutral” rating in a research note on Friday, June 12th. Weiss Ratings upgraded shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Raymond James Financial upped their target price on shares of Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 3rd. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.50.

Fulton Financial Stock Down 2.4%

FULT stock opened at $23.65 on Thursday. The business has a 50 day moving average of $22.36 and a 200 day moving average of $21.29. The firm has a market cap of $4.52 billion, a PE ratio of 11.26 and a beta of 0.79. Fulton Financial Corporation has a twelve month low of $16.60 and a twelve month high of $24.71. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.06.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Wednesday, April 22nd. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.The business had revenue of $331.86 million for the quarter, compared to the consensus estimate of $359.36 million. During the same period in the previous year, the company posted $0.52 earnings per share. On average, research analysts forecast that Fulton Financial Corporation will post 2.18 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, July 1st. Fulton Financial’s payout ratio is currently 36.19%.

Insider Transactions at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $21.42, for a total transaction of $107,100.00. Following the sale, the director directly owned 80,477 shares of the company’s stock, valued at approximately $1,723,817.34. This represents a 5.85% decrease in their position. The sale 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 insiders.

Fulton Financial Company 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.