Illinois Municipal Retirement Fund Sells 5,081 Shares of Fulton Financial Co. (NASDAQ:FULT)

Illinois Municipal Retirement Fund reduced its position in Fulton Financial Co. (NASDAQ:FULT) by 5.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 90,942 shares of the bank’s stock after selling 5,081 shares during the period. Illinois Municipal Retirement Fund owned 0.06% of Fulton Financial worth $1,497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Morton Brown Family Wealth LLC bought a new stake in shares of Fulton Financial in the fourth quarter valued at approximately $26,000. Blue Trust Inc. raised its holdings in Fulton Financial by 82.8% during the 4th quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock valued at $28,000 after acquiring an additional 781 shares during the period. Strs Ohio bought a new stake in Fulton Financial during the 4th quarter valued at $29,000. First Command Advisory Services Inc. purchased a new stake in shares of Fulton Financial during the third quarter worth $38,000. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in shares of Fulton Financial by 81.0% in the third quarter. Blue Bell Private Wealth Management LLC now owns 4,881 shares of the bank’s stock worth $59,000 after acquiring an additional 2,184 shares during the period. 72.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Jefferies Financial Group decreased their price objective on Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Stephens decreased their price target on Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating on the stock in a research report on Thursday, April 18th. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Friday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, Fulton Financial presently has an average rating of “Hold” and a consensus price target of $16.17.

Fulton Financial Price Performance

Fulton Financial stock opened at $15.62 on Friday. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 9.70 and a beta of 0.81. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $15.30 and a 200 day simple moving average of $15.01. Fulton Financial Co. has a 52 week low of $9.64 and a 52 week high of $17.06.

Fulton Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Thursday, March 28th. Fulton Financial’s payout ratio is 42.24%.

Fulton Financial Company Profile

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.