State of Tennessee Treasury Department decreased its position in shares of Fulton Financial Corporation (NASDAQ:FULT) by 41.7% during the third quarter, Holdings Channel reports. The fund owned 140,000 shares of the company’s stock after selling 100,000 shares during the period. State of Tennessee Treasury Department owned 0.08% of Fulton Financial Corporation worth $2,033,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Fund Advisors raised its position in shares of Fulton Financial Corporation by 6.1% in the third quarter. BlackRock Fund Advisors now owns 9,400,145 shares of the company’s stock worth $136,490,000 after buying an additional 540,610 shares during the last quarter. Fulton Bank N.A. raised its position in shares of Fulton Financial Corporation by 3.4% in the third quarter. Fulton Bank N.A. now owns 1,865,276 shares of the company’s stock worth $27,084,000 after buying an additional 61,616 shares during the last quarter. Foundry Partners LLC raised its position in shares of Fulton Financial Corporation by 3.1% in the third quarter. Foundry Partners LLC now owns 934,695 shares of the company’s stock worth $13,572,000 after buying an additional 28,319 shares during the last quarter. Hancock Holding Co. raised its position in shares of Fulton Financial Corporation by 25.3% in the third quarter. Hancock Holding Co. now owns 330,043 shares of the company’s stock worth $4,792,000 after buying an additional 66,735 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Fulton Financial Corporation by 20.4% in the third quarter. Prudential Financial Inc. now owns 976,323 shares of the company’s stock worth $14,176,000 after buying an additional 165,660 shares during the last quarter. Institutional investors and hedge funds own 59.14% of the company’s stock.

Institutional Ownership by Quarter for Fulton Financial Corporation (NASDAQ:FULT)

Shares of Fulton Financial Corporation (NASDAQ:FULT) traded up 1.08% during mid-day trading on Friday, reaching $18.75. 838,969 shares of the company were exchanged. The stock has a market capitalization of $3.25 billion, a P/E ratio of 20.60 and a beta of 1.04. Fulton Financial Corporation has a 12 month low of $11.48 and a 12 month high of $19.45. The stock has a 50 day moving average price of $18.66 and a 200-day moving average price of $15.36.

Fulton Financial Corporation (NASDAQ:FULT) last issued its earnings results on Tuesday, October 18th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $130.57 million for the quarter, compared to analyst estimates of $136.49 million. Fulton Financial Corporation had a net margin of 20.23% and a return on equity of 7.57%. The business’s revenue was down 23.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS. Analysts predict that Fulton Financial Corporation will post $0.93 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Tuesday, January 3rd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, December 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.16%. Fulton Financial Corporation’s payout ratio is currently 43.96%.

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FULT has been the topic of several recent research reports. Zacks Investment Research raised shares of Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Tuesday, September 20th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Fulton Financial Corporation in a report on Wednesday, October 12th. FBR & Co upped their price objective on shares of Fulton Financial Corporation from $14.00 to $15.00 and gave the company a “mkt perform” rating in a report on Thursday, October 20th. Barclays PLC downgraded shares of Fulton Financial Corporation from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $13.00 to $17.00 in a report on Tuesday, December 6th. Finally, Hovde Group downgraded shares of Fulton Financial Corporation from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $16.50 to $19.00 in a report on Friday, November 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Fulton Financial Corporation has a consensus rating of “Hold” and a consensus target price of $17.10.

In other Fulton Financial Corporation news, EVP Angela M. Sargent sold 15,192 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $265,860.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO E Philip Wenger sold 22,258 shares of the business’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $17.66, for a total transaction of $393,076.28. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

About Fulton Financial Corporation

Fulton Financial Corporation is a multi-bank financial holding company. The Company provides a range of banking and financial services to businesses and consumers through its banking subsidiaries: Fulton Bank, N.A., Fulton Bank of New Jersey, The Columbia Bank, Lafayette Ambassador Bank, FNB Bank, N.A.

5 Day Chart for NASDAQ:FULT

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