Edgestream Partners L.P. Cuts Stock Position in Fulton Financial Corporation $FULT

Key Points

• Edgestream Partners sharply reduced its Fulton Financial position by 92.8% in the first quarter, selling 246,459 shares and retaining 19,061 shares valued at approximately $388,000. Institutional investors and hedge funds own 72.02% of the company.
• Analyst sentiment remains mixed but leans neutral: Fulton Financial has a consensus “Hold” rating and an average price target of $24.75, while recent targets range from $25 to $27.
• FULT opened at $24.72, near its 12-month high of $25.23, and pays a quarterly dividend of $0.19, equivalent to an annualized $0.76 payout and a 3.1% yield.

Edgestream Partners L.P. decreased its position in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 92.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,061 shares of the bank's stock after selling 246,459 shares during the period. Edgestream Partners L.P.'s holdings in Fulton Financial were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Keybank National Association OH boosted its position in shares of Fulton Financial by 1.5% in the 1st quarter. Keybank National Association OH now owns 32,887 shares of the bank's stock worth $669,000 after purchasing an additional 485 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Fulton Financial by 2.6% in the first quarter. Cetera Investment Advisers now owns 21,829 shares of the bank's stock worth $444,000 after acquiring an additional 557 shares in the last quarter. State of Wyoming increased its holdings in shares of Fulton Financial by 13.4% during the first quarter. State of Wyoming now owns 4,829 shares of the bank's stock valued at $98,000 after acquiring an additional 570 shares in the last quarter. Root Financial Partners LLC raised its position in shares of Fulton Financial by 89.9% in the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank's stock valued at $26,000 after purchasing an additional 607 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Fulton Financial by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 99,907 shares of the bank's stock worth $1,930,000 after purchasing an additional 678 shares in the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on FULT shares. DA Davidson lifted their price objective on shares of Fulton Financial from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Wall Street Zen raised Fulton Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Raymond James Financial boosted their price target on Fulton Financial from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Fulton Financial in a report on Wednesday, July 29th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $27.00 price target (up from $23.00) on shares of Fulton Financial in a report on Monday. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Fulton Financial presently has a consensus rating of "Hold" and an average target price of $24.75.

Fulton Financial Trading Down 0.6%

Shares of Fulton Financial stock opened at $24.72 on Thursday. The firm has a market capitalization of $4.72 billion, a PE ratio of 11.83 and a beta of 0.79. The firm's 50-day moving average price is $23.64 and its 200 day moving average price is $21.95. Fulton Financial Corporation has a twelve month low of $16.60 and a twelve month high of $25.23. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.06.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.19 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.76 dividend on an annualized basis and a yield of 3.1%. Fulton Financial's dividend payout ratio (DPR) is presently 36.36%.

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction on Monday, July 13th. The shares were sold at an average price of $24.14, for a total transaction of $120,700.00. Following the sale, the director owned 75,477 shares of the company's stock, valued at $1,822,014.78. The trade was a 6.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.01% of the stock is currently owned by company insiders.

Fulton Financial Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial's offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.

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