AlphaQuest LLC Has $4.97 Million Stake in Fulton Financial Corporation $FULT

AlphaQuest LLC boosted its position in Fulton Financial Corporation (NASDAQ:FULT) by 92.7% in the third quarter, Holdings Channel.com reports. The firm owned 266,955 shares of the bank’s stock after purchasing an additional 128,443 shares during the quarter. Fulton Financial comprises 0.3% of AlphaQuest LLC’s portfolio, making the stock its 11th biggest holding. AlphaQuest LLC’s holdings in Fulton Financial were worth $4,973,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FULT. EJF Capital LLC grew its holdings in shares of Fulton Financial by 2.6% during the second quarter. EJF Capital LLC now owns 22,686 shares of the bank’s stock worth $409,000 after purchasing an additional 582 shares during the last quarter. Amalgamated Bank boosted its position in Fulton Financial by 1.3% during the 3rd quarter. Amalgamated Bank now owns 52,371 shares of the bank’s stock worth $976,000 after buying an additional 671 shares during the period. Raymond James Financial Inc. boosted its position in Fulton Financial by 0.8% during the 2nd quarter. Raymond James Financial Inc. now owns 88,351 shares of the bank’s stock worth $1,594,000 after buying an additional 741 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Fulton Financial by 0.5% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 235,952 shares of the bank’s stock worth $4,396,000 after acquiring an additional 1,078 shares during the last quarter. Finally, Truist Financial Corp increased its position in Fulton Financial by 4.4% in the 3rd quarter. Truist Financial Corp now owns 26,289 shares of the bank’s stock valued at $490,000 after acquiring an additional 1,116 shares during the period. 72.02% of the stock is currently owned by institutional investors.

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $19.55, for a total value of $97,750.00. Following the completion of the sale, the director directly owned 85,477 shares in the company, valued at approximately $1,671,075.35. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Raymond James Financial raised shares of Fulton Financial from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Fulton Financial in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods upped their price target on Fulton Financial from $20.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, November 26th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.50.

Fulton Financial Stock Up 2.2%

Shares of NASDAQ:FULT opened at $20.64 on Friday. Fulton Financial Corporation has a 1 year low of $14.32 and a 1 year high of $21.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.90. The business’s 50-day moving average is $19.60 and its 200-day moving average is $18.85. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 9.92 and a beta of 0.85.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Wednesday, January 21st. The bank reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. Fulton Financial had a return on equity of 12.59% and a net margin of 20.68%.The business had revenue of $336.02 million during the quarter, compared to the consensus estimate of $336.80 million. During the same period in the previous year, the company posted $0.48 earnings per share. Equities research analysts predict that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial announced that its Board of Directors has approved a stock buyback plan on Tuesday, December 16th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the bank to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Fulton Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Wednesday, December 31st. This is a boost from Fulton Financial’s previous quarterly dividend of $0.18. Fulton Financial’s dividend payout ratio is presently 36.54%.

About Fulton Financial

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.