Teacher Retirement System of Texas Invests $555,000 in Fulton Financial Corporation (NASDAQ:FULT)

Teacher Retirement System of Texas acquired a new stake in Fulton Financial Corporation (NASDAQ:FULT - Free Report) in the first 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.

A number of other institutional investors also recently made changes to their positions in FULT. Norges Bank purchased a new stake in Fulton Financial during the 4th quarter valued at $38,010,000. Millennium Management LLC lifted its position in shares of Fulton Financial by 149.9% in the 4th quarter. Millennium Management LLC now owns 1,478,735 shares of the bank's stock worth $28,510,000 after purchasing an additional 886,991 shares during the period. JPMorgan Chase & Co. lifted its position 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 purchasing an additional 765,313 shares during the period. Nuveen Asset Management LLC lifted its position 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 purchasing an additional 709,015 shares during the period. Finally, First Trust Advisors LP lifted its position 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 purchasing an additional 675,819 shares during the period. Hedge funds and other institutional investors own 72.02% of the company's stock.

Fulton Financial Stock Performance

Shares of FULT stock traded down $0.12 during trading hours on Friday, reaching $19.62. The company had a trading volume of 3,550,223 shares, compared to its average volume of 1,403,762. 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 firm has a market cap of $3.57 billion, a PE ratio of 11.47 and a beta of 0.77. The business has a fifty day moving average price of $18.02 and a 200-day moving average price of $18.33. Fulton Financial Corporation has a one year low of $14.33 and a one year high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 earnings per share (EPS) for the quarter, topping 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 quarter last year, the firm posted $0.52 earnings per share. Sell-side analysts predict that Fulton Financial Corporation will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Tuesday, July 1st. Fulton Financial's payout ratio is 42.11%.

Analyst Ratings Changes

Several research analysts recently issued reports on FULT shares. Keefe, Bruyette & Woods increased their price target 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. Piper Sandler reiterated a "neutral" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Jefferies Financial Group reiterated a "hold" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Finally, DA Davidson increased their price target 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $21.13.

About Fulton Financial

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.