Teacher Retirement System of Texas Purchases Shares of 30,680 Fulton Financial Corporation (NASDAQ:FULT)

Teacher Retirement System of Texas purchased a new stake in Fulton Financial Corporation (NASDAQ:FULT) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 30,680 shares of the bank’s stock, valued at approximately $555,000.

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in Fulton Financial by 193.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank’s stock valued at $25,000 after acquiring an additional 853 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Fulton Financial by 57.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank’s stock valued at $42,000 after acquiring an additional 800 shares during the last quarter. GAMMA Investing LLC raised its holdings in Fulton Financial by 42.2% in the 1st quarter. GAMMA Investing LLC now owns 3,072 shares of the bank’s stock valued at $56,000 after acquiring an additional 911 shares during the last quarter. Byrne Asset Management LLC raised its holdings in Fulton Financial by 114.5% in the 1st quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank’s stock valued at $58,000 after acquiring an additional 1,717 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Fulton Financial by 196.9% in the 4th quarter. Covestor Ltd now owns 3,976 shares of the bank’s stock valued at $76,000 after acquiring an additional 2,637 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on FULT shares. DA Davidson restated a “neutral” rating and set a $20.00 price objective on shares of Fulton Financial in a report on Wednesday, April 16th. Jefferies Financial Group restated a “hold” rating on shares of Fulton Financial in a report on Wednesday, July 9th. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Fulton Financial in a report on Wednesday, July 9th. Finally, Piper Sandler reissued a “neutral” rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.88.

Fulton Financial Stock Down 0.1%

Shares of NASDAQ FULT opened at $19.00 on Thursday. Fulton Financial Corporation has a 12-month low of $14.33 and a 12-month high of $22.49. The company has a market cap of $3.45 billion, a P/E ratio of 11.11 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 stock has a fifty day moving average price of $17.93 and a 200 day moving average price of $18.33.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Tuesday, July 15th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.12. The firm had revenue of $328.45 million during the quarter, compared to the consensus estimate of $320.47 million. Fulton Financial had a return on equity of 12.75% and a net margin of 17.00%. During the same period in the prior year, the firm earned $0.52 EPS. Research analysts anticipate that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently declared 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 yield of 3.79%. The ex-dividend date of this dividend was Tuesday, July 1st. Fulton Financial’s dividend payout ratio is currently 42.35%.

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.