Arizona State Retirement System Has $850,000 Holdings in Fulton Financial Co. (NASDAQ:FULT)

Arizona State Retirement System grew its position in Fulton Financial Co. (NASDAQ:FULT) by 11.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,067 shares of the bank’s stock after buying an additional 4,944 shares during the quarter. Arizona State Retirement System’s holdings in Fulton Financial were worth $850,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Rhumbline Advisers grew its stake in Fulton Financial by 6.6% during the 2nd quarter. Rhumbline Advisers now owns 572,639 shares of the bank’s stock valued at $9,723,000 after acquiring an additional 35,545 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Fulton Financial by 3.7% during the 2nd quarter. CIBC Asset Management Inc now owns 16,883 shares of the bank’s stock valued at $287,000 after buying an additional 605 shares during the period. Natixis Advisors LLC grew its holdings in shares of Fulton Financial by 57.2% during the 2nd quarter. Natixis Advisors LLC now owns 51,439 shares of the bank’s stock valued at $873,000 after acquiring an additional 18,711 shares in the last quarter. Stieven Capital Advisors L.P. purchased a new stake in shares of Fulton Financial during the second quarter worth $2,376,000. Finally, Maryland State Retirement & Pension System boosted its position in Fulton Financial by 7.4% during the second quarter. Maryland State Retirement & Pension System now owns 63,373 shares of the bank’s stock valued at $1,076,000 after purchasing an additional 4,349 shares during the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FULT has been the topic of several research reports. Jefferies Financial Group dropped their target price on Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.40.

Fulton Financial Stock Performance

Shares of NASDAQ FULT opened at $17.83 on Friday. The business’s 50-day simple moving average is $18.36 and its 200-day simple moving average is $16.86. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 0.93. Fulton Financial Co. has a 52 week low of $11.63 and a 52 week high of $20.33. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 11.07 and a beta of 0.74.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, July 16th. The bank reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.22. Fulton Financial had a net margin of 17.93% and a return on equity of 11.29%. The company had revenue of $334.71 million for the quarter, compared to analyst estimates of $296.38 million. During the same quarter last year, the firm posted $0.47 earnings per share. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, equities research analysts expect that Fulton Financial Co. will post 1.73 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Monday, July 1st. Fulton Financial’s dividend payout ratio (DPR) is 42.24%.

About Fulton Financial

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.