Fulton Financial Corporation (NASDAQ:FULT) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System grew its position in Fulton Financial Corporation (NASDAQ:FULT) by 1.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 240,935 shares of the bank’s stock after acquiring an additional 2,985 shares during the period. New York State Teachers Retirement System owned about 0.13% of Fulton Financial worth $4,359,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Fulton Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank’s stock worth $45,837,000 after acquiring an additional 19,329 shares during the period. Federated Hermes Inc. raised its position in shares of Fulton Financial by 6.3% in the fourth quarter. Federated Hermes Inc. now owns 291,302 shares of the bank’s stock worth $5,616,000 after acquiring an additional 17,182 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Fulton Financial by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,303 shares of the bank’s stock worth $657,000 after acquiring an additional 684 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Fulton Financial in the first quarter worth about $287,000. Finally, Deutsche Bank AG raised its position in shares of Fulton Financial by 50.1% in the fourth quarter. Deutsche Bank AG now owns 154,894 shares of the bank’s stock worth $2,986,000 after acquiring an additional 51,670 shares during the period. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Stock Up 1.1%

Shares of NASDAQ FULT opened at $19.10 on Monday. Fulton Financial Corporation has a 12-month low of $14.33 and a 12-month high of $22.49. The stock has a market cap of $3.47 billion, a PE ratio of 11.23 and a beta of 0.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average of $17.58 and a 200 day moving average of $18.34.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. Fulton Financial had a net margin of 16.59% and a return on equity of 12.19%. The company had revenue of $322.64 million during the quarter, compared to analysts’ expectations of $315.07 million. During the same quarter in the prior year, the company earned $0.40 EPS. As a group, sell-side analysts predict that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.72 annualized dividend and a dividend yield of 3.77%. Fulton Financial’s dividend payout ratio (DPR) is 42.35%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FULT. Keefe, Bruyette & Woods reduced their price target on shares of Fulton Financial from $24.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, April 17th. DA Davidson restated a “neutral” rating and set a $20.00 price target on shares of Fulton Financial in a research report on Wednesday, April 16th. Finally, Piper Sandler reduced their price target on shares of Fulton Financial from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.88.

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.