New Age Alpha Advisors LLC Has $4.05 Million Stake in Fulton Financial Corporation (NASDAQ:FULT)

Key Points

• New Age Alpha Advisors LLC has reduced its stake in Fulton Financial Corporation by 24.0%, owning now approximately 223,905 shares worth $4,050,000 as stated in its recent SEC filing.
• Multiple institutional investors have increased their positions in Fulton Financial, with Fuller & Thaler Asset Management Inc. raising their stake by 5.3% and Millennium Management LLC boosting theirs by 149.9% in the fourth quarter.
• Fulton Financial reported a quarter earnings of $0.55 EPS, exceeding analysts' expectations, and also announced a quarterly dividend of $0.18 per share, reflecting a yield of 4.1%.

New Age Alpha Advisors LLC cut its holdings in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 24.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 223,905 shares of the bank's stock after selling 70,576 shares during the quarter. New Age Alpha Advisors LLC owned 0.12% of Fulton Financial worth $4,050,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of FULT. IFG Advisory LLC purchased a new stake in shares of Fulton Financial during the 1st quarter worth about $301,000. Strategic Family Wealth Counselors L.L.C. purchased a new stake in shares of Fulton Financial during the 1st quarter worth about $252,000. Readystate Asset Management LP bought a new position in shares of Fulton Financial in the 1st quarter valued at approximately $536,000. Y Intercept Hong Kong Ltd raised its stake in shares of Fulton Financial by 369.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 52,080 shares of the bank's stock valued at $942,000 after acquiring an additional 40,997 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Fulton Financial by 2.0% in the 1st quarter. Private Advisor Group LLC now owns 35,552 shares of the bank's stock valued at $643,000 after acquiring an additional 704 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Fulton Financial Stock Performance

Shares of FULT traded up $0.17 on Friday, reaching $17.79. 903,172 shares of the stock traded hands, compared to its average volume of 2,094,625. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 10.40 and a beta of 0.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.89 and a quick ratio of 0.88. Fulton Financial Corporation has a 12 month low of $14.32 and a 12 month high of $22.49. The stock's 50-day moving average price is $18.20 and its 200-day moving average price is $18.17.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its quarterly earnings data 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 business had revenue of $328.45 million for 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 previous year, the business posted $0.52 earnings per share. Equities analysts forecast that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.72 annualized dividend and a yield of 4.0%. Fulton Financial's payout ratio is currently 42.11%.

Analysts Set New Price Targets

FULT has been the topic of several recent analyst reports. DA Davidson lifted their price target on Fulton Financial from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Piper Sandler reaffirmed a "neutral" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods lifted their price target 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. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $21.13.

Insider Buying and Selling

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $18.41, for a total value of $92,050.00. Following the transaction, the director owned 599,102 shares of the company's stock, valued at approximately $11,029,467.82. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.08% of the stock is currently owned by corporate insiders.

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.