New Age Alpha Advisors LLC Acquires Shares of 294,481 Fulton Financial Co. (NASDAQ:FULT)

New Age Alpha Advisors LLC bought a new position in shares of Fulton Financial Co. (NASDAQ:FULT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 294,481 shares of the bank’s stock, valued at approximately $5,678,000. New Age Alpha Advisors LLC owned approximately 0.16% of Fulton Financial as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Jones Financial Companies Lllp raised its position in 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 purchasing an additional 853 shares in the last quarter. Quarry LP acquired a new position in shares of Fulton Financial during the 3rd quarter worth $33,000. McClarren Financial Advisors Inc. bought a new stake in shares of Fulton Financial during the 4th quarter worth $44,000. Blue Trust Inc. boosted its stake in Fulton Financial by 10.3% in the fourth quarter. Blue Trust Inc. now owns 5,455 shares of the bank’s stock valued at $99,000 after buying an additional 509 shares in the last quarter. Finally, AlphaQuest LLC grew its position in 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 acquiring an additional 5,454 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, President Angela M. Snyder sold 13,322 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares of the company’s stock, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.07% of the stock is owned by insiders.

Fulton Financial Stock Down 1.6 %

Shares of NASDAQ:FULT opened at $17.97 on Friday. The firm has a market cap of $3.27 billion, a P/E ratio of 11.45 and a beta of 0.76. Fulton Financial Co. has a 12-month low of $13.87 and a 12-month high of $22.49. The business has a fifty day simple moving average of $19.50 and a 200 day simple moving average of $19.42. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32.

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

Fulton Financial Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Tuesday, April 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 45.86%.

About Fulton Financial

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.