Texas Permanent School Fund Raises Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Texas Permanent School Fund increased its stake in shares of Fulton Financial Co. (NASDAQ:FULTGet Rating) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,254 shares of the bank’s stock after purchasing an additional 1,897 shares during the quarter. Texas Permanent School Fund owned approximately 0.07% of Fulton Financial worth $1,680,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FULT. Meeder Asset Management Inc. purchased a new stake in shares of Fulton Financial during the 1st quarter worth $27,000. Lazard Asset Management LLC grew its stake in shares of Fulton Financial by 1,554.1% during the first quarter. Lazard Asset Management LLC now owns 2,200 shares of the bank’s stock worth $36,000 after acquiring an additional 2,067 shares during the last quarter. Strs Ohio purchased a new position in shares of Fulton Financial in the 1st quarter valued at approximately $43,000. Point72 Hong Kong Ltd boosted its stake in Fulton Financial by 11.7% in the 1st quarter. Point72 Hong Kong Ltd now owns 7,082 shares of the bank’s stock worth $118,000 after purchasing an additional 742 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Fulton Financial in the 2nd quarter worth approximately $144,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Price Performance

Shares of NASDAQ FULT opened at $18.17 on Thursday. The business’s 50 day moving average price is $17.13 and its 200 day moving average price is $16.15. The firm has a market cap of $3.04 billion, a P/E ratio of 11.57 and a beta of 0.80. Fulton Financial Co. has a 52 week low of $13.72 and a 52 week high of $19.17. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Monday, October 3rd were given a $0.15 dividend. The ex-dividend date was Friday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 3.30%. Fulton Financial’s dividend payout ratio is currently 38.22%.

Insider Activity at Fulton Financial

In related news, EVP Angela M. Snyder sold 4,818 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $18.23, for a total value of $87,832.14. Following the sale, the executive vice president now owns 33,246 shares in the company, valued at $606,074.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FULT has been the topic of a number of recent analyst reports. Piper Sandler upped their price target on shares of Fulton Financial to $20.00 in a research note on Wednesday, October 5th. StockNews.com started coverage on Fulton Financial in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, DA Davidson reiterated a “neutral” rating on shares of Fulton Financial in a research note on Wednesday, July 27th.

Fulton Financial Company Profile

(Get Rating)

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers secured consumer loans, including home equity loans and lines of credit, automobile loans, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial real estate, commercial and industrial, and construction loans, as well as equipment lease financing loans.

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Institutional Ownership by Quarter for Fulton Financial (NASDAQ:FULT)

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