Public Sector Pension Investment Board Buys 64,144 Shares of Fulton Financial Co. (NASDAQ:FULT)

Public Sector Pension Investment Board raised its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 19.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,892 shares of the bank’s stock after purchasing an additional 64,144 shares during the period. Public Sector Pension Investment Board owned 0.22% of Fulton Financial worth $6,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Fulton Financial in the fourth quarter valued at $27,805,000. Hsbc Holdings PLC raised its position in Fulton Financial by 36.0% in the 4th quarter. Hsbc Holdings PLC now owns 2,593,793 shares of the bank’s stock worth $43,043,000 after purchasing an additional 686,269 shares during the period. United Services Automobile Association purchased a new stake in Fulton Financial in the 4th quarter worth about $202,000. Legacy Advisors LLC lifted its stake in Fulton Financial by 1.8% in the fourth quarter. Legacy Advisors LLC now owns 286,104 shares of the bank’s stock worth $4,758,000 after purchasing an additional 5,000 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its position in shares of Fulton Financial by 76,320.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,642 shares of the bank’s stock valued at $126,000 after buying an additional 7,632 shares during the period. 72.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group reduced their price target on Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $18.40.

Fulton Financial Stock Down 2.0 %

Shares of NASDAQ FULT opened at $18.03 on Wednesday. Fulton Financial Co. has a 52-week low of $11.63 and a 52-week high of $20.33. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 11.20 and a beta of 0.74. The stock has a 50 day moving average price of $18.51 and a 200 day moving average price of $17.01. 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 (NASDAQ:FULT) last issued its earnings results on Tuesday, July 16th. The bank reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.22. The business had revenue of $334.71 million during the quarter, compared to analysts’ expectations of $296.38 million. Fulton Financial had a return on equity of 11.29% and a net margin of 17.93%. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS. Sell-side analysts expect that Fulton Financial Co. will post 1.73 earnings per share for the current year.

Fulton Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.17 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.68 annualized dividend and a dividend yield of 3.77%. Fulton Financial’s dividend payout ratio is currently 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.