Teachers Retirement System of The State of Kentucky cut its stake in Fulton Financial Corp (NASDAQ:FULT) by 5.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 31,931 shares of the company’s stock after selling 1,700 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Fulton Financial Corp were worth $600,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Fund Advisors boosted its stake in Fulton Financial Corp by 6.1% in the third quarter. BlackRock Fund Advisors now owns 9,400,145 shares of the company’s stock valued at $136,490,000 after buying an additional 540,610 shares in the last quarter. Comerica Bank boosted its stake in Fulton Financial Corp by 34.8% in the fourth quarter. Comerica Bank now owns 204,714 shares of the company’s stock valued at $3,849,000 after buying an additional 52,893 shares in the last quarter. State Street Corp boosted its stake in Fulton Financial Corp by 11.7% in the fourth quarter. State Street Corp now owns 8,065,027 shares of the company’s stock valued at $151,626,000 after buying an additional 845,682 shares in the last quarter. Citadel Advisors LLC boosted its stake in Fulton Financial Corp by 320.0% in the third quarter. Citadel Advisors LLC now owns 163,019 shares of the company’s stock valued at $2,367,000 after buying an additional 124,207 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Fulton Financial Corp by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,273,497 shares of the company’s stock valued at $76,571,000 after buying an additional 40,522 shares in the last quarter. Institutional investors and hedge funds own 58.70% of the company’s stock.
Fulton Financial Corp (NASDAQ:FULT) opened at 17.50 on Tuesday. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 18.82 and a beta of 1.10. Fulton Financial Corp has a one year low of $12.66 and a one year high of $19.75. The stock has a 50 day moving average of $18.67 and a 200-day moving average of $17.24.
Fulton Financial Corp (NASDAQ:FULT) last announced its quarterly earnings results on Tuesday, January 17th. The company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. Fulton Financial Corp had a net margin of 20.37% and a return on equity of 7.67%. The firm earned $183.50 million during the quarter, compared to analyst estimates of $138.01 million. During the same period in the previous year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts predict that Fulton Financial Corp will post $1.00 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Monday, April 3rd will be paid a $0.11 dividend. The ex-dividend date is Thursday, March 30th. This is a positive change from Fulton Financial Corp’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.51%. Fulton Financial Corp’s payout ratio is currently 43.01%.
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Several analysts have issued reports on FULT shares. Zacks Investment Research cut shares of Fulton Financial Corp from a “buy” rating to a “hold” rating in a research note on Monday, December 26th. Barclays PLC cut shares of Fulton Financial Corp from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $13.00 to $17.00 in a research note on Tuesday, December 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.00.
In other news, insider Curtis J. Myers sold 9,285 shares of Fulton Financial Corp stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $18.75, for a total value of $174,093.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.75% of the company’s stock.
About Fulton Financial Corp
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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