Fulton Financial Corporation (NASDAQ:FULT) Shares Sold by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP has reduced its stake in Fulton Financial Corporation by 36%, selling 38,147 shares, and now holds 67,702 shares valued at approximately $1.225 million.
• Fulton Financial recently reported a quarterly EPS of $0.55, surpassing estimates, and declared a quarterly dividend of $0.18 per share with a dividend yield of 3.97%.
• Institutional investors own 72.02% of Fulton Financial's stock, reflecting significant interest from prominent firms like Vanguard Group and First Trust Advisors, which have increased their positions in the company.

GSA Capital Partners LLP lowered its stake in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 36.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 67,702 shares of the bank's stock after selling 38,147 shares during the period. GSA Capital Partners LLP's holdings in Fulton Financial were worth $1,225,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FULT. Nomura Asset Management Co. Ltd. grew its stake in shares of 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 buying an additional 800 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 911 shares during the period. Byrne Asset Management LLC grew its position in Fulton Financial by 114.5% in the 1st quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank's stock valued at $58,000 after acquiring an additional 1,717 shares in the last quarter. Covestor Ltd increased its stake in Fulton Financial by 196.9% during the fourth 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. Finally, Blue Trust Inc. lifted its position in shares of Fulton Financial by 15.1% during the first quarter. Blue Trust Inc. now owns 5,728 shares of the bank's stock worth $104,000 after purchasing an additional 752 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company's stock.

Fulton Financial Stock Up 0.6%

NASDAQ:FULT traded up $0.11 during midday trading on Monday, hitting $17.73. 1,443,524 shares of the company were exchanged, compared to its average volume of 1,436,269. Fulton Financial Corporation has a fifty-two week low of $14.32 and a fifty-two week high of $22.49. The company has a market capitalization of $3.22 billion, a PE ratio of 10.37 and a beta of 0.82. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $18.16 and a 200 day simple moving average of $18.25.

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. As a group, equities analysts anticipate that Fulton Financial Corporation will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a $0.18 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.72 annualized dividend and a yield of 4.1%. Fulton Financial's dividend payout ratio is 42.11%.

Analyst Ratings Changes

FULT has been the subject of a number of research reports. Piper Sandler restated a "neutral" rating on shares of Fulton Financial in a report on Wednesday, July 9th. DA Davidson lifted their target price on Fulton Financial from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Keefe, Bruyette & Woods upped their price target on Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $21.13.

Insider Buying and Selling

In other news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $18.41, for a total transaction of $92,050.00. Following the completion of the sale, the director owned 599,102 shares in the company, valued at approximately $11,029,467.82. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.07% of the stock is currently owned by company insiders.

Fulton Financial Company 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.