Amundi Sells 18,852 Shares of Fulton Financial Corporation $FULT

Key Points

• Amundi has reduced its stake in Fulton Financial Corporation by 20.5%, selling 18,852 shares and bringing its total holdings to 73,177 shares worth $1,324,000 at the end of Q1.
• Other institutional investors, such as Wealth Enhancement Advisory Services and Deutsche Bank AG, have made adjustments to their positions in Fulton Financial, with the latter increasing its stake by 50.1%.
• Fulton Financial's latest earnings report showed an EPS of $0.55, surpassing expectations, alongside a quarterly dividend of $0.18 per share, resulting in a dividend yield of 3.7%.

Amundi lowered its position in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 20.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,177 shares of the bank's stock after selling 18,852 shares during the quarter. Amundi's holdings in Fulton Financial were worth $1,324,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Focus Partners Advisor Solutions LLC grew its holdings in Fulton Financial by 22.8% during the first quarter. Focus Partners Advisor Solutions LLC now owns 15,595 shares of the bank's stock valued at $282,000 after purchasing an additional 2,897 shares during the period. Royal Bank of Canada grew its holdings in Fulton Financial by 4.9% during the first quarter. Royal Bank of Canada now owns 220,706 shares of the bank's stock valued at $3,992,000 after purchasing an additional 10,242 shares during the period. Quarry LP grew its holdings in Fulton Financial by 1,669.6% during the first quarter. Quarry LP now owns 1,982 shares of the bank's stock valued at $36,000 after purchasing an additional 1,870 shares during the period. Wealth Preservation Advisors LLC acquired a new position in Fulton Financial during the first quarter valued at approximately $60,000. Finally, AlphaQuest LLC grew its holdings in Fulton Financial by 189.6% during the first quarter. AlphaQuest LLC now owns 15,891 shares of the bank's stock valued at $287,000 after purchasing an additional 10,403 shares during the period. Institutional investors and hedge funds own 72.02% of the company's stock.

Fulton Financial Stock Up 2.2%

Shares of FULT stock traded up $0.41 during trading on Thursday, reaching $19.47. The company's stock had a trading volume of 1,403,485 shares, compared to its average volume of 1,240,487. The business has a fifty day moving average price of $18.92 and a 200-day moving average price of $17.94. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 11.39 and a beta of 0.85. Fulton Financial Corporation has a one year low of $14.32 and a one year high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.12. The business had revenue of $328.45 million for the quarter, compared to analyst estimates of $320.47 million. Fulton Financial had a net margin of 17.00% and a return on equity of 12.64%. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Analysts anticipate that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, October 1st. Fulton Financial's dividend payout ratio is 42.11%.

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $19.28, for a total transaction of $96,400.00. Following the sale, the director directly owned 90,477 shares of the company's stock, valued at approximately $1,744,396.56. This represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.08% of the company's stock.

Analysts Set New Price Targets

FULT has been the subject of several research analyst reports. Piper Sandler reiterated a "neutral" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Keefe, Bruyette & Woods upped their price target on shares of Fulton Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. Jefferies Financial Group reiterated a "hold" rating on shares of Fulton Financial in a report on Wednesday, July 9th. DA Davidson upped their price target on shares of Fulton Financial from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, Zacks Research cut shares of Fulton Financial from a "strong-buy" rating to a "hold" rating in a report on Monday. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Fulton Financial presently has a consensus rating of "Hold" and a consensus target price of $21.13.

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.