Advantage Alpha Capital Partners LP Acquires 4,396 Shares of Fulton Financial Co. (NASDAQ:FULT)

Advantage Alpha Capital Partners LP increased its holdings in Fulton Financial Co. (NASDAQ:FULT) by 19.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,818 shares of the bank’s stock after acquiring an additional 4,396 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Fulton Financial were worth $486,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FULT. Family Firm Inc. purchased a new stake in shares of Fulton Financial in the second quarter worth approximately $46,000. Coston McIsaac & Partners bought a new stake in Fulton Financial during the third quarter worth $54,000. Blue Trust Inc. raised its position in Fulton Financial by 21.9% in the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after buying an additional 691 shares during the last quarter. AE Wealth Management LLC bought a new position in Fulton Financial during the 2nd quarter valued at $172,000. Finally, Atwater Malick LLC purchased a new position in Fulton Financial during the 2nd quarter worth $175,000. Institutional investors own 72.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FULT shares. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Fulton Financial has a consensus rating of “Hold” and a consensus target price of $18.83.

Fulton Financial Price Performance

Shares of NASDAQ:FULT opened at $21.69 on Wednesday. Fulton Financial Co. has a fifty-two week low of $13.84 and a fifty-two week high of $22.49. The company’s 50-day moving average is $18.82 and its 200 day moving average is $18.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $3.95 billion, a P/E ratio of 13.73 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The company had revenue of $487.33 million during the quarter, compared to analyst estimates of $321.00 million. During the same quarter last year, the business posted $0.43 EPS. On average, equities research analysts forecast that Fulton Financial Co. will post 1.74 earnings per share for the current year.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 annualized dividend and a dividend yield of 3.14%. Fulton Financial’s payout ratio is 43.04%.

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.