Alps Advisors Inc. Trims Stake in Fulton Financial Corporation (NASDAQ:FULT)

Alps Advisors Inc. reduced its stake in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 41.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,211 shares of the bank's stock after selling 20,126 shares during the quarter. Alps Advisors Inc.'s holdings in Fulton Financial were worth $510,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its stake in shares of Fulton Financial by 193.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock valued at $25,000 after purchasing an additional 853 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Fulton Financial by 57.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock valued at $42,000 after acquiring an additional 800 shares during the last quarter. GAMMA Investing LLC increased its position in Fulton Financial by 42.2% during the 1st quarter. GAMMA Investing LLC now owns 3,072 shares of the bank's stock valued at $56,000 after purchasing an additional 911 shares during the period. Byrne Asset Management LLC raised its holdings in Fulton Financial by 114.5% during the 1st quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank's stock worth $58,000 after purchasing an additional 1,717 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of Fulton Financial by 196.9% in the 4th quarter. Covestor Ltd now owns 3,976 shares of the bank's stock worth $76,000 after purchasing an additional 2,637 shares during the period. 72.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FULT shares. Jefferies Financial Group reissued a "hold" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. DA Davidson reissued a "neutral" rating and issued a $20.00 price objective on shares of Fulton Financial in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods restated a "market perform" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Finally, Piper Sandler reiterated a "neutral" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Fulton Financial has an average rating of "Hold" and a consensus target price of $20.88.

Fulton Financial Stock Down 2.8%

Shares of FULT traded down $0.55 on Tuesday, reaching $19.02. The company's stock had a trading volume of 4,867,088 shares, compared to its average volume of 1,420,292. Fulton Financial Corporation has a twelve month low of $14.33 and a twelve month high of $22.49. The stock has a market capitalization of $3.46 billion, a PE ratio of 11.19 and a beta of 0.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average of $17.81 and a 200-day moving average of $18.32.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.11. Fulton Financial had a return on equity of 12.19% and a net margin of 16.59%. Equities analysts predict that Fulton Financial Corporation will post 1.91 EPS for the current year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.72 annualized dividend and a dividend yield of 3.79%. Fulton Financial's dividend payout ratio is currently 42.35%.

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.