Fulton Financial Corp. (FULT) Position Cut by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System cut its position in shares of Fulton Financial Corp. (NASDAQ:FULT) by 4.4% during the second quarter, Holdings Channel reports. The fund owned 46,100 shares of the company’s stock after selling 2,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Fulton Financial Corp. were worth $622,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the stock. LS Investment Advisors LLC increased its stake in Fulton Financial Corp. by 76.7% in the second quarter. LS Investment Advisors LLC now owns 10,458 shares of the company’s stock worth $141,000 after buying an additional 4,538 shares during the last quarter. Bank of Montreal Can acquired a new stake in Fulton Financial Corp. during the second quarter worth approximately $172,000. Virginia Retirement System acquired a new stake in Fulton Financial Corp. during the first quarter worth approximately $313,000. Bayesian Capital Management LP increased its stake in Fulton Financial Corp. by 58.7% in the first quarter. Bayesian Capital Management LP now owns 30,000 shares of the company’s stock worth $401,000 after buying an additional 11,100 shares during the last quarter. Finally, Gardner Russo & Gardner LLC increased its stake in Fulton Financial Corp. by 10.8% in the first quarter. Gardner Russo & Gardner LLC now owns 34,930 shares of the company’s stock worth $467,000 after buying an additional 3,400 shares during the last quarter. Institutional investors own 59.12% of the company’s stock.
Fulton Financial Corp. (NASDAQ:FULT) traded up 0.71% during trading on Friday, hitting $14.26. 590,606 shares of the company were exchanged. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 16.43 and a beta of 1.19. The company has a 50-day moving average of $14.44 and a 200-day moving average of $13.89. Fulton Financial Corp. has a 12 month low of $11.48 and a 12 month high of $14.86.
Fulton Financial Corp. (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, July 19th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Fulton Financial Corp. had a net margin of 19.52% and a return on equity of 7.31%. Analysts forecast that Fulton Financial Corp. will post $0.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Wednesday, September 28th. Fulton Financial Corp.’s dividend payout ratio is currently 45.98%.
A number of research firms have commented on FULT. FBR & Co reiterated a “hold” rating on shares of Fulton Financial Corp. in a report on Wednesday, July 20th. Zacks Investment Research downgraded shares of Fulton Financial Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 27th. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Fulton Financial Corp. in a report on Wednesday. Finally, Hovde Group began coverage on shares of Fulton Financial Corp. in a report on Monday, September 12th. They set an “outperform” rating and a $16.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Fulton Financial Corp. presently has a consensus rating of “Hold” and a consensus target price of $14.25.
In other Fulton Financial Corp. news, COO Philmer H. Rohrbaugh purchased 14,000 shares of Fulton Financial Corp. stock in a transaction on Tuesday, August 16th. The shares were bought at an average price of $13.96 per share, with a total value of $195,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Curtis J. Myers sold 15,580 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $14.34, for a total transaction of $223,417.20. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
Fulton Financial Corp. Company Profile
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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