23,400 Shares in Fulton Financial Corp. (FULT) Acquired by Virginia Retirement Systems ET AL
Virginia Retirement Systems ET AL acquired a new stake in shares of Fulton Financial Corp. (NASDAQ:FULT) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 23,400 shares of the company’s stock, valued at approximately $316,000.
Several other institutional investors also recently added to or reduced their stakes in FULT. Fulton Bank N.A. increased its position in Fulton Financial Corp. by 5,663.8% in the second quarter. Fulton Bank N.A. now owns 1,803,660 shares of the company’s stock valued at $24,350,000 after buying an additional 1,772,367 shares during the period. Foundry Partners LLC acquired a new position in Fulton Financial Corp. during the second quarter valued at approximately $12,236,000. Clark Capital Management Group Inc. acquired a new position in Fulton Financial Corp. during the first quarter valued at approximately $9,932,000. Dimensional Fund Advisors LP increased its position in Fulton Financial Corp. by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 13,548,422 shares of the company’s stock valued at $182,902,000 after buying an additional 673,829 shares during the period. Finally, Vanguard Group Inc. increased its position in Fulton Financial Corp. by 3.8% in the second quarter. Vanguard Group Inc. now owns 13,009,839 shares of the company’s stock valued at $175,633,000 after buying an additional 480,635 shares during the period. Hedge funds and other institutional investors own 59.12% of the company’s stock.
Shares of Fulton Financial Corp. (NASDAQ:FULT) opened at 14.61 on Monday. The company has a market cap of $2.53 billion, a PE ratio of 16.83 and a beta of 1.19. Fulton Financial Corp. has a 52-week low of $11.48 and a 52-week high of $14.86. The company’s 50-day moving average is $14.39 and its 200 day moving average is $13.86.
Fulton Financial Corp. (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. Fulton Financial Corp. had a return on equity of 7.31% and a net margin of 19.52%. On average, analysts anticipate that Fulton Financial Corp. will post $0.91 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Wednesday, September 28th. Fulton Financial Corp.’s payout ratio is 45.98%.
Several research firms recently commented on FULT. Zacks Investment Research upgraded shares of Fulton Financial Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Tuesday, September 20th. Hovde Group began coverage on shares of Fulton Financial Corp. in a research note on Monday, September 12th. They issued an “outperform” rating and a $16.00 price target on the stock. Finally, FBR & Co restated a “hold” rating on shares of Fulton Financial Corp. in a research note on Wednesday, July 20th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Fulton Financial Corp. has a consensus rating of “Hold” and an average price target of $14.25.
In other news, EVP Curtis J. Myers sold 15,580 shares of Fulton Financial Corp. stock in a transaction on Monday, August 29th. The stock was sold at an average price of $14.34, for a total transaction of $223,417.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Philmer H. Rohrbaugh bought 14,000 shares of the stock in a transaction dated Tuesday, August 16th. The shares were acquired at an average price of $13.96 per share, for a total transaction of $195,440.00. The disclosure for this purchase can be found here. Insiders own 0.75% of the company’s stock.
About Fulton Financial Corp.
Fulton Financial Corporation is a multi-bank financial holding company. The Company provides a range of banking and financial services to businesses and consumers through its banking subsidiaries: Fulton Bank, N.A., Fulton Bank of New Jersey, The Columbia Bank, Lafayette Ambassador Bank, FNB Bank, N.A.
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