Fulton Financial Co. (NASDAQ:FULT) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board reduced its position in Fulton Financial Co. (NASDAQ:FULT) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 385,992 shares of the bank’s stock after selling 13,900 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.21% of Fulton Financial worth $6,998,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FULT. Family Firm Inc. bought a new stake in shares of Fulton Financial during the 2nd quarter valued at about $46,000. Coston McIsaac & Partners bought a new position in shares of Fulton Financial during the third quarter valued at approximately $54,000. Blue Trust Inc. raised its position in shares of Fulton Financial by 21.9% during the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after purchasing an additional 691 shares during the period. AE Wealth Management LLC bought a new stake in shares of Fulton Financial in the 2nd quarter worth approximately $172,000. Finally, Atwater Malick LLC acquired a new position in Fulton Financial during the 2nd quarter valued at approximately $175,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FULT. StockNews.com cut Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.83.

Fulton Financial Price Performance

Shares of NASDAQ:FULT opened at $21.58 on Friday. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 13.66 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. Fulton Financial Co. has a 12 month low of $13.87 and a 12 month high of $22.49. The stock’s 50 day moving average price is $19.06 and its 200 day moving average price is $18.13.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The company had revenue of $487.33 million for the quarter, compared to the consensus estimate of $321.00 million. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. During the same quarter in the previous year, the business earned $0.43 EPS. Equities research analysts anticipate that Fulton Financial Co. will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 annualized dividend and a dividend yield of 3.15%. Fulton Financial’s dividend payout ratio (DPR) is 43.04%.

Fulton Financial 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.