Arax Advisory Partners Has $1.92 Million Holdings in Fulton Financial Corporation $FULT

Arax Advisory Partners cut its holdings in Fulton Financial Corporation (NASDAQ:FULT) by 56.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,370 shares of the bank’s stock after selling 131,130 shares during the period. Arax Advisory Partners owned approximately 0.06% of Fulton Financial worth $1,921,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in Fulton Financial by 2.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 23,924 shares of the bank’s stock worth $467,000 after purchasing an additional 580 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Fulton Financial by 16.8% in the fourth quarter. GAMMA Investing LLC now owns 4,262 shares of the bank’s stock worth $82,000 after acquiring an additional 613 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Fulton Financial by 48.0% in the third quarter. Jones Financial Companies Lllp now owns 1,995 shares of the bank’s stock worth $38,000 after acquiring an additional 647 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Fulton Financial by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 99,907 shares of the bank’s stock worth $1,930,000 after acquiring an additional 678 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of Fulton Financial by 0.7% in the third quarter. Illinois Municipal Retirement Fund now owns 97,150 shares of the bank’s stock worth $1,810,000 after acquiring an additional 720 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.

Wall Street Analysts Forecast Growth

FULT has been the subject of a number of research reports. DA Davidson initiated coverage on shares of Fulton Financial in a report on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 target price for the company. Wall Street Zen cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Piper Sandler set a $23.00 target price on shares of Fulton Financial and gave the stock a “neutral” rating in a report on Friday. Raymond James Financial reissued an “outperform” rating and issued a $24.00 target price on shares of Fulton Financial in a report on Monday, April 27th. Finally, Weiss Ratings raised shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.00.

Fulton Financial Stock Performance

Fulton Financial stock opened at $22.90 on Tuesday. The business has a 50 day moving average of $21.62 and a 200-day moving average of $20.75. Fulton Financial Corporation has a 1 year low of $16.60 and a 1 year high of $23.66. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $4.38 billion, a P/E ratio of 10.90 and a beta of 0.80.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. The company had revenue of $331.86 million during the quarter, compared to the consensus estimate of $359.36 million. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.During the same quarter in the prior year, the firm posted $0.52 earnings per share. On average, equities research analysts predict that Fulton Financial Corporation will post 2.17 earnings per share for the current year.

Insiders Place Their Bets

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $21.42, for a total transaction of $107,100.00. Following the completion of the sale, the director owned 80,477 shares of the company’s stock, valued at approximately $1,723,817.34. This represents a 5.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.01% of the company’s stock.

Fulton Financial Profile

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.