Fulton Financial Corporation (NASDAQ:FULT) Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. cut its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 41.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,211 shares of the bank's stock after selling 20,126 shares during the period. Alps Advisors Inc.'s holdings in Fulton Financial were worth $510,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. TD Private Client Wealth LLC lifted its holdings in Fulton Financial by 21.5% in the 1st quarter. TD Private Client Wealth LLC now owns 8,377 shares of the bank's stock worth $152,000 after purchasing an additional 1,483 shares in the last quarter. Silver Oak Securities Incorporated bought a new position in Fulton Financial in the 1st quarter valued at $333,000. Principal Financial Group Inc. lifted its holdings in shares of Fulton Financial by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,082,623 shares of the bank's stock worth $19,585,000 after buying an additional 30,800 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Fulton Financial in the 1st quarter worth $555,000. Finally, New York State Teachers Retirement System lifted its holdings in shares of Fulton Financial by 1.3% in the 1st quarter. New York State Teachers Retirement System now owns 240,935 shares of the bank's stock worth $4,359,000 after buying an additional 2,985 shares during the period. Institutional investors own 72.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FULT shares. DA Davidson upped their price objective on Fulton Financial from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday. Keefe, Bruyette & Woods upped their target price on Fulton Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a research report on Thursday. Piper Sandler reiterated a "neutral" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $21.13.

Fulton Financial Stock Down 0.6%

FULT traded down $0.12 on Friday, hitting $19.63. 1,031,836 shares of the company were exchanged, compared to its average volume of 1,414,527. The firm has a 50-day moving average price of $17.97 and a two-hundred day moving average price of $18.33. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 11.48 and a beta of 0.77. Fulton Financial Corporation has a twelve month low of $14.32 and a twelve month high of $22.49. The company has a current ratio of 0.89, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its earnings results on Tuesday, July 15th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 12.44% and a net margin of 17.00%. During the same period in the prior year, the firm earned $0.52 EPS. On average, equities analysts predict that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Tuesday, July 1st. Fulton Financial's dividend payout ratio (DPR) is presently 42.35%.

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.