State of Tennessee Treasury Department Lowers Holdings in Fulton Financial Corporation (FULT)

State of Tennessee Treasury Department lowered its position in shares of Fulton Financial Corporation (NASDAQ:FULT) by 41.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 140,000 shares of the bank’s stock after selling 100,000 shares during the quarter. State of Tennessee Treasury Department owned about 0.08% of Fulton Financial Corporation worth $2,625,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Fulton Financial Corporation by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 15,089,443 shares of the bank’s stock worth $286,699,000 after acquiring an additional 314,230 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Fulton Financial Corporation by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,443,398 shares of the bank’s stock valued at $274,426,000 after buying an additional 112,692 shares during the period. State Street Corp lifted its holdings in shares of Fulton Financial Corporation by 4.0% in the 2nd quarter. State Street Corp now owns 9,239,829 shares of the bank’s stock valued at $175,556,000 after buying an additional 353,566 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Fulton Financial Corporation by 0.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,009,090 shares of the bank’s stock valued at $95,173,000 after buying an additional 29,669 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Fulton Financial Corporation by 10.2% in the 2nd quarter. Northern Trust Corp now owns 4,314,514 shares of the bank’s stock valued at $81,976,000 after buying an additional 399,323 shares during the period. 62.57% of the stock is owned by institutional investors.

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FULT has been the subject of several analyst reports. Zacks Investment Research cut Fulton Financial Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 21st. Piper Jaffray Companies reissued a “hold” rating and issued a $18.00 price objective on shares of Fulton Financial Corporation in a report on Thursday, October 19th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $17.00 price objective on shares of Fulton Financial Corporation in a report on Thursday, October 19th. Jefferies Group LLC reissued a “hold” rating and issued a $20.00 price objective on shares of Fulton Financial Corporation in a report on Friday, September 15th. Finally, BidaskClub cut Fulton Financial Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $18.67.

Fulton Financial Corporation (NASDAQ:FULT) opened at $18.00 on Friday. The stock has a market capitalization of $3,117.17, a PE ratio of 17.28 and a beta of 1.16. Fulton Financial Corporation has a fifty-two week low of $16.45 and a fifty-two week high of $19.90. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

Fulton Financial Corporation (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, October 17th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $194.19 million during the quarter, compared to analysts’ expectations of $200.00 million. Fulton Financial Corporation had a return on equity of 8.28% and a net margin of 21.15%. Fulton Financial Corporation’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. sell-side analysts expect that Fulton Financial Corporation will post 1.05 earnings per share for the current year.

About Fulton Financial Corporation

Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).

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

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