Fulton Financial Corporation $FULT Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. decreased its stake in shares of Fulton Financial Corporation (NASDAQ:FULT) by 92.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 19,061 shares of the bank’s stock after selling 246,459 shares during the quarter. Edgestream Partners L.P.’s holdings in Fulton Financial were worth $388,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Keybank National Association OH raised its holdings in shares of Fulton Financial by 1.5% during the 1st quarter. Keybank National Association OH now owns 32,887 shares of the bank’s stock worth $669,000 after acquiring an additional 485 shares during the period. Cetera Investment Advisers increased its position in Fulton Financial by 2.6% during the first quarter. Cetera Investment Advisers now owns 21,829 shares of the bank’s stock worth $444,000 after purchasing an additional 557 shares during the last quarter. State of Wyoming raised its stake in Fulton Financial by 13.4% during the first quarter. State of Wyoming now owns 4,829 shares of the bank’s stock worth $98,000 after purchasing an additional 570 shares during the period. Root Financial Partners LLC grew its stake in shares of Fulton Financial by 89.9% in the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after buying an additional 607 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in shares of Fulton Financial by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 99,907 shares of the bank’s stock worth $1,930,000 after buying an additional 678 shares during the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FULT shares. DA Davidson upped their price objective on Fulton Financial from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Raymond James Financial increased their price target on Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Wall Street Zen raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fulton Financial in a research note on Wednesday, July 29th. Finally, Piper Sandler reiterated a “neutral” rating and set a $27.00 price target (up from $23.00) on shares of Fulton Financial in a research report on Monday. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $24.75.

Fulton Financial Trading Down 0.6%

NASDAQ FULT opened at $24.72 on Thursday. Fulton Financial Corporation has a 52 week low of $16.60 and a 52 week high of $25.23. The firm has a 50 day moving average of $23.64 and a two-hundred day moving average of $21.95. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $4.72 billion, a PE ratio of 11.83 and a beta of 0.79.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Fulton Financial’s payout ratio is 36.36%.

Insider Activity at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $24.14, for a total transaction of $120,700.00. Following the completion of the transaction, the director owned 75,477 shares in the company, valued at approximately $1,822,014.78. The trade was a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.01% of the company’s stock.

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.