Advantage Alpha Capital Partners LP Sells 18,347 Shares of Fulton Financial Corporation $FULT

Key Points

• Advantage Alpha Capital Partners LP significantly reduced its holdings in Fulton Financial Corporation by 60.8%, now owning 11,831 shares worth $214,000 after selling 18,347 shares in the first quarter.
• Multiple institutional investors, including GAMMA Investing LLC and Byrne Asset Management LLC, have increased their stakes in Fulton Financial, indicating a mixed sentiment among large investors.
• Fulton Financial reported $0.55 EPS for the quarter, surpassing analyst estimates, and declared a quarterly dividend of $0.18, reflecting a 3.7% dividend yield.

Advantage Alpha Capital Partners LP decreased its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 60.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,831 shares of the bank's stock after selling 18,347 shares during the quarter. Advantage Alpha Capital Partners LP's holdings in Fulton Financial were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of FULT. GAMMA Investing LLC raised its holdings in shares of Fulton Financial by 42.2% during 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 raised its holdings in Fulton Financial by 114.5% during the first quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank's stock valued at $58,000 after buying an additional 1,717 shares in the last quarter. Blue Trust Inc. grew its position 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 valued at $104,000 after purchasing an additional 752 shares during the last quarter. TD Private Client Wealth LLC grew its position 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 valued at $152,000 after purchasing an additional 1,483 shares during the last quarter. Finally, Bare Financial Services Inc grew its position 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 valued at $174,000 after purchasing an additional 1,864 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company's stock.

Wall Street Analyst Weigh In

FULT has been the topic of a number of recent research reports. DA Davidson lifted their target price on Fulton Financial from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods lifted their target price on Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Piper Sandler reissued a "neutral" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Finally, Jefferies Financial Group reissued a "hold" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $21.13.

Insiders Place Their Bets

In related news, Director E Philip Wenger sold 5,000 shares of the business's stock in a transaction that occurred 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 $11,029,467.82. The trade was a 0.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.08% of the stock is owned by company insiders.

Fulton Financial Trading Down 0.9%

FULT stock traded down $0.18 during trading on Thursday, hitting $19.69. The company had a trading volume of 368,760 shares, compared to its average volume of 1,444,880. 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 firm has a 50-day moving average price of $18.61 and a 200-day moving average price of $18.03. Fulton Financial Corporation has a 12 month low of $14.32 and a 12 month high of $22.49. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 11.51 and a beta of 0.82.

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

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, July 1st. Fulton Financial's payout ratio is 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.