Texas Permanent School Fund Corp Has $2.29 Million Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Texas Permanent School Fund Corp decreased its position in Fulton Financial Co. (NASDAQ:FULT) by 5.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 135,076 shares of the bank’s stock after selling 8,281 shares during the period. Texas Permanent School Fund Corp’s holdings in Fulton Financial were worth $2,294,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FULT. Charles Schwab Investment Management Inc. increased its holdings in shares of Fulton Financial by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,062,343 shares of the bank’s stock worth $33,946,000 after acquiring an additional 100,902 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Fulton Financial by 5.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 166,464 shares of the bank’s stock worth $2,740,000 after buying an additional 8,430 shares during the period. Norges Bank bought a new position in Fulton Financial in the fourth quarter valued at approximately $27,805,000. Hsbc Holdings PLC boosted its holdings in shares of Fulton Financial by 36.0% in the fourth quarter. Hsbc Holdings PLC now owns 2,593,793 shares of the bank’s stock valued at $43,043,000 after buying an additional 686,269 shares during the period. Finally, United Services Automobile Association bought a new stake in shares of Fulton Financial during the fourth quarter worth $202,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Trading Up 2.4 %

Shares of NASDAQ:FULT opened at $18.26 on Tuesday. The company’s 50-day moving average price is $18.40 and its two-hundred day moving average price is $16.89. Fulton Financial Co. has a one year low of $11.63 and a one year high of $20.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $3.32 billion, a PE ratio of 11.34 and a beta of 0.74.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, July 16th. The bank reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.22. The business had revenue of $334.71 million for the quarter, compared to analyst estimates of $296.38 million. Fulton Financial had a return on equity of 11.29% and a net margin of 17.93%. Fulton Financial’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 earnings per share. On average, equities analysts forecast that Fulton Financial Co. will post 1.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FULT shares. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Jefferies Financial Group reduced their price objective on Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.40.

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.