New Age Alpha Advisors LLC Decreases Stock Holdings in Fulton Financial Corporation (NASDAQ:FULT)

New Age Alpha Advisors LLC trimmed its position in shares of Fulton Financial Corporation (NASDAQ:FULT) by 24.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 223,905 shares of the bank’s stock after selling 70,576 shares during the period. New Age Alpha Advisors LLC’s holdings in Fulton Financial were worth $4,050,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. IFG Advisory LLC purchased a new stake in shares of Fulton Financial during the first quarter worth about $301,000. Strategic Family Wealth Counselors L.L.C. purchased a new stake in shares of Fulton Financial during the first quarter worth about $252,000. Readystate Asset Management LP purchased a new stake in shares of Fulton Financial during the first quarter worth about $536,000. Y Intercept Hong Kong Ltd grew its stake in shares of Fulton Financial by 369.9% during the first quarter. Y Intercept Hong Kong Ltd now owns 52,080 shares of the bank’s stock worth $942,000 after acquiring an additional 40,997 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Fulton Financial by 2.0% during the first quarter. Private Advisor Group LLC now owns 35,552 shares of the bank’s stock worth $643,000 after acquiring an additional 704 shares during the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Trading Down 0.2%

Shares of NASDAQ:FULT opened at $17.72 on Wednesday. Fulton Financial Corporation has a 52-week low of $14.32 and a 52-week high of $22.49. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 10.36 and a beta of 0.82. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $18.18 and a 200-day moving average price of $18.22.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.12. Fulton Financial had a return on equity of 12.44% and a net margin of 17.00%. The firm had revenue of $328.45 million for the quarter, compared to the consensus estimate of $320.47 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. Equities analysts predict that Fulton Financial Corporation will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.18 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.1%. Fulton Financial’s dividend payout ratio is presently 42.11%.

Insider Activity at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $18.41, for a total value of $92,050.00. Following the sale, the director owned 599,102 shares in the company, valued at $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 available through the SEC website. 1.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.