79,800 Shares in Fulton Financial Corporation $FULT Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in Fulton Financial Corporation (NASDAQ:FULT) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 79,800 shares of the bank’s stock, valued at approximately $1,623,000.

A number of other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Fulton Financial during the fourth quarter worth $44,271,000. Goldman Sachs Group Inc. raised its holdings in shares of Fulton Financial by 219.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,822,385 shares of the bank’s stock valued at $54,557,000 after buying an additional 1,939,260 shares during the period. Balyasny Asset Management L.P. acquired a new position in Fulton Financial during the 2nd quarter worth about $22,069,000. Price T Rowe Associates Inc. MD boosted its holdings in Fulton Financial by 29.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,590,883 shares of the bank’s stock valued at $88,743,000 after acquiring an additional 1,054,321 shares during the period. Finally, Millennium Management LLC boosted its holdings in Fulton Financial by 2,825.4% during the 3rd quarter. Millennium Management LLC now owns 1,021,992 shares of the bank’s stock valued at $19,040,000 after acquiring an additional 987,057 shares during the period. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $21.42, for a total transaction of $107,100.00. Following the completion of the transaction, the director owned 80,477 shares in the company, valued at $1,723,817.34. The trade was a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.01% of the stock is owned by corporate insiders.

Fulton Financial Trading Up 1.1%

NASDAQ:FULT opened at $24.46 on Thursday. The firm has a market cap of $4.68 billion, a PE ratio of 11.65 and a beta of 0.80. The stock has a fifty day moving average price of $22.14 and a 200 day moving average price of $21.15. Fulton Financial Corporation has a 12-month low of $16.60 and a 12-month high of $24.55. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.06.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. The company had revenue of $331.86 million for the quarter, compared to the consensus estimate of $359.36 million. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.During the same quarter in the prior year, the business earned $0.52 EPS. Sell-side analysts anticipate that Fulton Financial Corporation will post 2.18 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.76 annualized dividend and a yield of 3.1%. Fulton Financial’s dividend payout ratio (DPR) is 36.19%.

Fulton Financial 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.