Amalgamated Bank Sells 1,997 Shares of Fulton Financial Co. (NASDAQ:FULT)

Amalgamated Bank lowered its holdings in Fulton Financial Co. (NASDAQ:FULT) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 53,338 shares of the bank’s stock after selling 1,997 shares during the quarter. Amalgamated Bank’s holdings in Fulton Financial were worth $967,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. State Board of Administration of Florida Retirement System lifted its holdings in Fulton Financial by 70.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 79,410 shares of the bank’s stock worth $1,262,000 after buying an additional 32,941 shares in the last quarter. Entropy Technologies LP acquired a new stake in Fulton Financial in the first quarter worth about $452,000. BNP Paribas Financial Markets increased its position in Fulton Financial by 78.8% in the first quarter. BNP Paribas Financial Markets now owns 83,162 shares of the bank’s stock worth $1,321,000 after purchasing an additional 36,663 shares during the period. Edgestream Partners L.P. bought a new stake in Fulton Financial during the 1st quarter worth about $1,941,000. Finally, Tidal Investments LLC acquired a new position in Fulton Financial during the 1st quarter valued at about $807,000. Institutional investors own 72.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FULT. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a research note on Thursday, October 17th. StockNews.com downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.83.

Fulton Financial Stock Performance

FULT stock opened at $20.98 on Friday. Fulton Financial Co. has a 1-year low of $13.84 and a 1-year high of $21.65. The business’s 50-day moving average price is $18.33 and its two-hundred day moving average price is $17.80. The firm has a market cap of $3.82 billion, a PE ratio of 13.28 and a beta of 0.73. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. The business had revenue of $487.33 million during the quarter, compared to analyst estimates of $321.00 million. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. During the same period in the previous year, the firm earned $0.43 EPS. As a group, research analysts forecast that Fulton Financial Co. will post 1.74 earnings per share for the current year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 annualized dividend and a yield of 3.24%. Fulton Financial’s dividend payout ratio is currently 43.04%.

Fulton Financial Company 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.