Arizona State Retirement System Trims Stock Position in Fulton Financial Co. (NASDAQ:FULT)

Arizona State Retirement System lowered its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,854 shares of the bank’s stock after selling 1,266 shares during the quarter. Arizona State Retirement System’s holdings in Fulton Financial were worth $755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. American Century Companies Inc. grew its stake in shares of Fulton Financial by 16.0% during the 3rd quarter. American Century Companies Inc. now owns 1,682,119 shares of the bank’s stock valued at $20,370,000 after acquiring an additional 232,462 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Fulton Financial by 76.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 158,034 shares of the bank’s stock valued at $1,914,000 after acquiring an additional 68,600 shares during the period. Neo Ivy Capital Management boosted its stake in Fulton Financial by 519.7% in the 3rd quarter. Neo Ivy Capital Management now owns 20,040 shares of the bank’s stock worth $243,000 after purchasing an additional 16,806 shares during the period. Northern Trust Corp boosted its stake in Fulton Financial by 0.4% in the 3rd quarter. Northern Trust Corp now owns 1,879,238 shares of the bank’s stock worth $22,758,000 after purchasing an additional 8,292 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Fulton Financial by 91.0% in the 3rd quarter. SG Americas Securities LLC now owns 143,292 shares of the bank’s stock worth $1,735,000 after purchasing an additional 68,286 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group dropped their price target on Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Stephens dropped their price target on Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating for the company in a research note on Thursday. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods upped their price target on Fulton Financial from $16.00 to $17.00 and gave the stock a “market perform” rating in a research note on Thursday, January 18th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Fulton Financial currently has a consensus rating of “Hold” and an average price target of $15.30.

Fulton Financial Stock Down 0.4 %

NASDAQ FULT opened at $14.43 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $2.34 billion, a P/E ratio of 8.96 and a beta of 0.81. Fulton Financial Co. has a one year low of $9.64 and a one year high of $17.06. The stock has a 50 day moving average price of $15.31 and a 200-day moving average price of $14.88.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Wednesday, January 17th. The bank reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $271.38 million during the quarter, compared to the consensus estimate of $268.70 million. Fulton Financial had a return on equity of 11.85% and a net margin of 18.31%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. As a group, equities analysts predict that Fulton Financial Co. will post 1.52 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.68 annualized dividend and a yield of 4.71%. Fulton Financial’s payout ratio is presently 42.24%.

Fulton Financial Company Profile

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.