Fulton Financial Corporation $FULT Stock Position Reduced by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP trimmed its holdings in Fulton Financial Corporation (NASDAQ:FULT) by 60.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,831 shares of the bank’s stock after selling 18,347 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Fulton Financial were worth $214,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Fulton Financial by 42.2% in the first quarter. GAMMA Investing LLC now owns 3,072 shares of the bank’s stock worth $56,000 after acquiring an additional 911 shares in the last quarter. Byrne Asset Management LLC lifted its stake in shares of Fulton Financial by 114.5% in the first quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank’s stock worth $58,000 after buying an additional 1,717 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Fulton Financial by 15.1% in the first quarter. Blue Trust Inc. now owns 5,728 shares of the bank’s stock worth $104,000 after buying an additional 752 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Fulton Financial by 21.5% in the first quarter. TD Private Client Wealth LLC now owns 8,377 shares of the bank’s stock worth $152,000 after buying an additional 1,483 shares during the last quarter. Finally, Bare Financial Services Inc lifted its stake in shares of Fulton Financial by 24.1% in the first quarter. Bare Financial Services Inc now owns 9,595 shares of the bank’s stock worth $174,000 after buying an additional 1,864 shares during the last quarter. 72.02% of the stock is owned by institutional investors.

Insider Activity

In other news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $18.41, for a total value of $92,050.00. Following the completion of the transaction, the director owned 599,102 shares in the company, valued at approximately $11,029,467.82. This represents a 0.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Jefferies Financial Group restated a “hold” rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Thursday, July 17th. DA Davidson boosted their price objective on shares of Fulton Financial from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Piper Sandler restated a “neutral” rating on shares of Fulton Financial in a research note on Wednesday, July 9th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.13.

Fulton Financial Price Performance

NASDAQ:FULT opened at $19.64 on Friday. The stock has a market cap of $3.58 billion, a P/E ratio of 11.49 and a beta of 0.82. Fulton Financial Corporation has a one year low of $14.32 and a one year high of $22.49. The company has a fifty day moving average price of $18.45 and a 200 day moving average price of $18.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.92.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.43 by $0.12. The firm had revenue of $328.45 million during the quarter, compared to analysts’ expectations of $320.47 million. Fulton Financial had a net margin of 17.00% and a return on equity of 12.64%. During the same period in the prior year, the company earned $0.52 EPS. Analysts anticipate that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.18 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.7%. Fulton Financial’s dividend payout ratio is currently 42.11%.

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.