Public Sector Pension Investment Board Has $7 Million Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Public Sector Pension Investment Board trimmed 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 and Exchange Commission (SEC). The firm owned 385,992 shares of the bank’s stock after selling 13,900 shares during the quarter. Public Sector Pension Investment Board’s holdings in Fulton Financial were worth $6,998,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Millennium Management LLC boosted its stake in Fulton Financial by 511.1% in the 2nd quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock worth $55,287,000 after purchasing an additional 2,723,170 shares during the period. Emerald Advisers LLC lifted its holdings in shares of Fulton Financial by 213.6% in the third quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank’s stock valued at $23,706,000 after purchasing an additional 890,630 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in shares of Fulton Financial by 272.2% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank’s stock worth $15,622,000 after buying an additional 630,152 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Fulton Financial by 710.0% during the second quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank’s stock valued at $11,880,000 after buying an additional 613,272 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Fulton Financial by 28.8% during the second quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank’s stock valued at $43,164,000 after buying an additional 567,771 shares during the period. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Stock Performance

Shares of NASDAQ FULT opened at $21.58 on Friday. 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 one year low of $13.87 and a one year high of $22.49. The business’s 50-day moving average price is $19.06 and its two-hundred day moving average price is $18.13. The company has a market capitalization of $3.93 billion, a P/E ratio of 13.66 and a beta of 0.73.

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

Fulton Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.17 per share. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FULT. Piper Sandler set a $21.00 price objective on Fulton Financial in a research report on Thursday, October 17th. StockNews.com lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.83.

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.