California State Teachers Retirement System Buys 48,227 Shares of Fulton Financial Corporation $FULT

Key Points

• California State Teachers Retirement System increased its Fulton Financial stake by 27.7%, purchasing 48,227 shares to hold 222,216 shares worth approximately $4.52 million. Institutional investors collectively own 72.02% of FULT.
• Two company directors sold a combined 9,100 shares, while insiders retain just 0.01% of the stock. Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $24.75.
• FULT opened at $24.24 and offers a quarterly dividend of $0.19 per share, equivalent to an annualized $0.76 payout and a 3.1% yield.

California State Teachers Retirement System increased its stake in Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 222,216 shares of the bank's stock after buying an additional 48,227 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Fulton Financial worth $4,520,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FULT. Root Financial Partners LLC increased its position in Fulton Financial by 89.9% during the first quarter. Root Financial Partners LLC now owns 1,282 shares of the bank's stock worth $26,000 after buying an additional 607 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Fulton Financial in the fourth quarter valued at approximately $25,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Fulton Financial during the 4th quarter worth approximately $27,000. Torren Management LLC bought a new position in shares of Fulton Financial during the 4th quarter worth approximately $28,000. Finally, V Square Quantitative Management LLC acquired a new stake in Fulton Financial during the 4th quarter valued at $28,000. 72.02% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Fulton Financial news, Director Lisa Crutchfield sold 4,100 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $24.80, for a total transaction of $101,680.00. Following the completion of the transaction, the director directly owned 7,838 shares in the company, valued at $194,382.40. The trade was a 34.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director E Philip Wenger sold 5,000 shares of the stock in a transaction on Monday, July 13th. The shares were sold at an average price of $24.14, for a total value of $120,700.00. Following the completion of the transaction, the director owned 75,477 shares of the company's stock, valued at $1,822,014.78. The trade was a 6.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.01% of the company's stock.

Wall Street Analyst Weigh In

FULT has been the subject of a number of research analyst reports. DA Davidson lifted their price objective on shares of Fulton Financial from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Piper Sandler restated a "neutral" rating and set a $27.00 target price (up from $23.00) on shares of Fulton Financial in a research note on Monday. Wall Street Zen raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Weiss Ratings reiterated a "buy (b)" rating on shares of Fulton Financial in a research note on Wednesday, July 29th. Finally, Raymond James Financial upped their price target on shares of Fulton Financial from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $24.75.

Fulton Financial Stock Performance

NASDAQ:FULT opened at $24.24 on Friday. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 11.60 and a beta of 0.79. Fulton Financial Corporation has a fifty-two week low of $16.60 and a fifty-two week high of $25.23. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a fifty day moving average price of $23.74 and a 200-day moving average price of $22.00.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Fulton Financial's dividend payout ratio is 36.36%.

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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