Teacher Retirement System of Texas acquired a new stake in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 30,680 shares of the bank's stock, valued at approximately $555,000.
Several other large investors also recently bought and sold shares of FULT. Norges Bank acquired a new position in Fulton Financial in the 4th quarter valued at about $38,010,000. Millennium Management LLC boosted its holdings in Fulton Financial by 149.9% in the 4th quarter. Millennium Management LLC now owns 1,478,735 shares of the bank's stock valued at $28,510,000 after purchasing an additional 886,991 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Fulton Financial by 137.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,322,616 shares of the bank's stock worth $25,500,000 after acquiring an additional 765,313 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Fulton Financial by 133.7% in the 4th quarter. Nuveen Asset Management LLC now owns 1,239,500 shares of the bank's stock worth $23,898,000 after acquiring an additional 709,015 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Fulton Financial by 61.7% in the 4th quarter. First Trust Advisors LP now owns 1,770,377 shares of the bank's stock worth $34,133,000 after acquiring an additional 675,819 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company's stock.
Analyst Upgrades and Downgrades
FULT has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their target price on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research note on Thursday. Jefferies Financial Group reaffirmed a "hold" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Piper Sandler reaffirmed a "neutral" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Finally, DA Davidson upped their target price on shares of Fulton Financial from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Fulton Financial has an average rating of "Hold" and an average price target of $21.13.
View Our Latest Analysis on FULT
Fulton Financial Stock Down 0.6%
Shares of NASDAQ:FULT traded down $0.12 during trading hours on Friday, reaching $19.62. The stock had a trading volume of 3,546,360 shares, compared to its average volume of 1,420,789. Fulton Financial Corporation has a 1 year low of $14.33 and a 1 year high of $22.49. The firm's 50 day moving average is $17.97 and its 200-day moving average is $18.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 0.89. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 11.47 and a beta of 0.77.
Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.12. The company had revenue of $328.45 million for the quarter, compared to the consensus estimate of $320.47 million. Fulton Financial had a net margin of 17.00% and a return on equity of 12.44%. During the same period in the prior year, the firm posted $0.52 EPS. Research analysts predict that Fulton Financial Corporation will post 1.91 earnings per share for the current fiscal year.
Fulton Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.72 annualized dividend and a dividend yield of 3.67%. Fulton Financial's dividend payout ratio (DPR) is 42.35%.
Fulton Financial Profile
(
Free Report)
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.
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