New Age Alpha Advisors LLC Takes $5.68 Million Position in Fulton Financial Co. (NASDAQ:FULT)

New Age Alpha Advisors LLC bought a new stake in Fulton Financial Co. (NASDAQ:FULT) in the 4th quarter, HoldingsChannel.com reports. The firm bought 294,481 shares of the bank’s stock, valued at approximately $5,678,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its holdings in shares of Fulton Financial by 193.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank’s stock valued at $25,000 after acquiring an additional 853 shares in the last quarter. Quarry LP bought a new position in shares of Fulton Financial in the 3rd quarter worth $33,000. McClarren Financial Advisors Inc. acquired a new stake in Fulton Financial in the 4th quarter valued at $44,000. Blue Trust Inc. raised its holdings in Fulton Financial by 10.3% during the fourth quarter. Blue Trust Inc. now owns 5,455 shares of the bank’s stock worth $99,000 after buying an additional 509 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Fulton Financial by 16,041.2% in the fourth quarter. AlphaQuest LLC now owns 5,488 shares of the bank’s stock valued at $106,000 after buying an additional 5,454 shares in the last quarter. 72.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Hovde Group upped their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a report on Monday, January 27th. Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. DA Davidson raised their price objective on Fulton Financial from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.64.

Fulton Financial Stock Down 1.6 %

FULT stock opened at $17.97 on Friday. The stock has a market cap of $3.27 billion, a P/E ratio of 11.45 and a beta of 0.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $19.50 and its two-hundred day simple moving average is $19.42. Fulton Financial Co. has a 1-year low of $13.87 and a 1-year high of $22.49.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same period in the prior year, the company posted $0.42 EPS. Analysts expect that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Tuesday, April 1st. Fulton Financial’s dividend payout ratio is currently 45.86%.

Insider Buying and Selling

In related news, President Angela M. Snyder sold 13,322 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the sale, the president now directly owns 63,682 shares in the company, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.07% of the stock is currently owned by 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.