Fulton Financial Co. (NASDAQ:FULT) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 546,026 shares of the bank's stock after buying an additional 74,993 shares during the period. New York State Common Retirement Fund owned 0.30% of Fulton Financial worth $10,527,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of Fulton Financial during the 3rd quarter worth about $33,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Fulton Financial during the 4th quarter worth $44,000. Blue Trust Inc. raised its position in shares of Fulton Financial by 28.8% in the 3rd quarter. Blue Trust Inc. now owns 4,946 shares of the bank's stock worth $84,000 after buying an additional 1,106 shares during the period. TD Private Client Wealth LLC raised its position in shares of Fulton Financial by 11.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank's stock worth $118,000 after buying an additional 676 shares during the period. Finally, KBC Group NV boosted its holdings in Fulton Financial by 69.3% in the fourth quarter. KBC Group NV now owns 8,517 shares of the bank's stock valued at $164,000 after acquiring an additional 3,487 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company's stock.

Wall Street Analyst Weigh In

FULT has been the topic of a number of research reports. DA Davidson raised their price objective on Fulton Financial from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on shares of Fulton Financial from $23.00 to $24.00 and gave the company a "market perform" rating in a report on Thursday, January 23rd. Stephens upgraded shares of Fulton Financial from an "equal weight" rating to an "overweight" rating in a research note on Monday, December 9th. Hovde Group raised their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a research note on Monday, January 27th. Finally, StockNews.com upgraded shares of Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $20.64.

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Fulton Financial Stock Up 1.5 %

Shares of FULT stock traded up $0.29 on Friday, hitting $19.82. The stock had a trading volume of 1,060,842 shares, compared to its average volume of 1,306,090. The stock's 50 day moving average is $20.08 and its 200-day moving average is $19.44. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 12.62 and a beta of 0.79. Fulton Financial Co. has a 52-week low of $13.87 and a 52-week high of $22.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, January 21st. The bank reported $0.48 EPS for the quarter, beating the consensus estimate of $0.42 by $0.06. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same quarter in the previous year, the company posted $0.42 earnings per share. As a group, research analysts expect that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.18 dividend. This is a positive change from Fulton Financial's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, December 31st. This represents a $0.72 annualized dividend and a dividend yield of 3.63%. Fulton Financial's dividend payout ratio (DPR) is presently 45.86%.

Insider Activity

In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of the business's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares in the company, valued at $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Curtis J. Myers sold 24,192 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $21.16, for a total transaction of $511,902.72. Following the sale, the chief executive officer now directly owns 155,946 shares in the company, valued at $3,299,817.36. This trade represents a 13.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.07% 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.