Retirement Systems of Alabama trimmed its stake in Fulton Financial Co. (NASDAQ:FULT – Free Report) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 218,987 shares of the bank’s stock after selling 1,776 shares during the period. Retirement Systems of Alabama owned about 0.13% of Fulton Financial worth $3,026,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in FULT. Lindbrook Capital LLC raised its stake in shares of Fulton Financial by 347.9% in the 1st quarter. Lindbrook Capital LLC now owns 1,823 shares of the bank’s stock valued at $25,000 after acquiring an additional 1,416 shares during the period. Signaturefd LLC raised its stake in shares of Fulton Financial by 55.0% in the 4th quarter. Signaturefd LLC now owns 1,815 shares of the bank’s stock valued at $31,000 after acquiring an additional 644 shares during the period. Lazard Asset Management LLC increased its stake in Fulton Financial by 1,554.1% during the 1st quarter. Lazard Asset Management LLC now owns 2,200 shares of the bank’s stock worth $36,000 after buying an additional 2,067 shares during the period. Almanack Investment Partners LLC. purchased a new stake in Fulton Financial during the 3rd quarter worth approximately $42,000. Finally, Ronald Blue Trust Inc. increased its stake in Fulton Financial by 172.8% during the 4th quarter. Ronald Blue Trust Inc. now owns 2,884 shares of the bank’s stock worth $46,000 after buying an additional 1,827 shares during the period. 66.31% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut their target price on shares of Fulton Financial from $20.00 to $16.00 and set a “market perform” rating on the stock in a research note on Thursday, April 6th. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Thursday. TheStreet downgraded shares of Fulton Financial from a “b-” rating to a “c+” rating in a research note on Monday, May 22nd. Piper Sandler cut their target price on shares of Fulton Financial from $15.00 to $14.00 in a research note on Thursday, April 20th. Finally, DA Davidson cut their target price on shares of Fulton Financial from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.60.
Fulton Financial Trading Up 0.5 %
Fulton Financial (NASDAQ:FULT – Get Free Report) last announced its quarterly earnings data on Wednesday, July 19th. The bank reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Fulton Financial had a net margin of 22.57% and a return on equity of 12.96%. The company had revenue of $375.50 million for the quarter, compared to the consensus estimate of $270.30 million. During the same period in the prior year, the firm posted $0.42 EPS. Equities analysts predict that Fulton Financial Co. will post 1.6 earnings per share for the current fiscal year.
Fulton Financial Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 3rd were issued a $0.16 dividend. This is a boost from Fulton Financial’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, June 30th. This represents a $0.64 annualized dividend and a dividend yield of 4.50%. Fulton Financial’s dividend payout ratio is presently 37.21%.
Insider Activity
In related news, CFO Mark R. Mccollom bought 10,000 shares of the stock in a transaction dated Thursday, May 11th. The stock was acquired at an average price of $9.74 per share, for a total transaction of $97,400.00. Following the acquisition, the chief financial officer now owns 71,503 shares in the company, valued at approximately $696,439.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Fulton Financial news, CFO Mark R. Mccollom purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was purchased at an average price of $9.74 per share, for a total transaction of $97,400.00. Following the purchase, the chief financial officer now directly owns 71,503 shares in the company, valued at $696,439.22. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Curtis J. Myers purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were acquired at an average price of $9.81 per share, with a total value of $147,150.00. Following the purchase, the chief executive officer now owns 157,044 shares in the company, valued at $1,540,601.64. The disclosure for this purchase can be found here. Company insiders own 0.98% of the company’s stock.
Fulton Financial 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.
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