New York State Teachers Retirement System Sells 30,031 Shares of Fulton Financial Corporation $FULT

New York State Teachers Retirement System trimmed its position in Fulton Financial Corporation (NASDAQ:FULT) by 11.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 226,921 shares of the bank’s stock after selling 30,031 shares during the quarter. New York State Teachers Retirement System owned approximately 0.13% of Fulton Financial worth $4,616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FULT. Norges Bank bought a new position in Fulton Financial during the 4th quarter worth $44,271,000. Goldman Sachs Group Inc. lifted its position in shares of Fulton Financial by 219.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,822,385 shares of the bank’s stock valued at $54,557,000 after acquiring an additional 1,939,260 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Fulton Financial during the 2nd quarter worth $22,069,000. Price T Rowe Associates Inc. MD increased its position in shares of Fulton Financial by 29.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,590,883 shares of the bank’s stock worth $88,743,000 after purchasing an additional 1,054,321 shares during the period. Finally, Millennium Management LLC increased its position in shares of Fulton Financial by 2,825.4% in the third quarter. Millennium Management LLC now owns 1,021,992 shares of the bank’s stock worth $19,040,000 after purchasing an additional 987,057 shares during the period. Institutional investors own 72.02% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Piper Sandler set a $23.00 price target on Fulton Financial and gave the company a “neutral” rating in a research note on Friday, June 12th. Wall Street Zen lowered Fulton Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 3rd. Raymond James Financial lifted their target price on Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings raised Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $23.50.

Fulton Financial Price Performance

FULT stock opened at $23.65 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.06. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 11.26 and a beta of 0.79. The company’s fifty day simple moving average is $22.36 and its 200 day simple moving average is $21.29. Fulton Financial Corporation has a 12-month low of $16.60 and a 12-month high of $24.71.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.The company had revenue of $331.86 million for the quarter, compared to analyst estimates of $359.36 million. During the same period in the prior year, the firm earned $0.52 earnings per share. On average, analysts expect that Fulton Financial Corporation will post 2.18 earnings per share for the current year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a $0.19 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $0.76 annualized dividend and a dividend yield of 3.2%. Fulton Financial’s payout ratio is presently 36.19%.

Insider Activity

In related news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $21.42, for a total value of $107,100.00. Following the sale, the director directly owned 80,477 shares in the company, valued at approximately $1,723,817.34. The trade was a 5.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.01% of the stock is currently owned by insiders.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.