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Amalgamated Bank Sells 4,157 Shares of Fulton Financial Co. (NASDAQ:FULT)

Defense World · Sep 27, 2022 04:21

Amalgamated Bank lessened its stake in shares of Fulton Financial Co. (NASDAQ:FULT – Get Rating) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,997 shares of the bank's stock after selling 4,157 shares during the quarter. Amalgamated Bank owned approximately 0.06% of Fulton Financial worth $1,712,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC boosted its position in Fulton Financial by 18.2% during the 1st quarter. CWM LLC now owns 11,314 shares of the bank's stock valued at $188,000 after acquiring an additional 1,739 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Fulton Financial in the 1st quarter valued at about $346,000. Verition Fund Management LLC boosted its holdings in Fulton Financial by 70.4% in the 1st quarter. Verition Fund Management LLC now owns 38,112 shares of the bank's stock worth $633,000 after buying an additional 15,749 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Fulton Financial by 56.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 37,245 shares of the bank's stock worth $619,000 after buying an additional 13,449 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Fulton Financial by 4.7% in the 1st quarter. Teacher Retirement System of Texas now owns 32,995 shares of the bank's stock worth $548,000 after buying an additional 1,490 shares during the last quarter. Institutional investors own 64.90% of the company's stock.

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Fulton Financial Stock Down 0.4 %

FULT stock opened at $16.12 on Tuesday. The firm has a market cap of $2.70 billion, a PE ratio of 9.95 and a beta of 0.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.89 and a current ratio of 0.89. The firm's 50 day moving average price is $16.51 and its 200-day moving average price is $15.94. Fulton Financial Co. has a one year low of $13.72 and a one year high of $19.17.

Fulton Financial (NASDAQ:FULT – Get Rating) last announced its earnings results on Tuesday, July 19th. The bank reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The company had revenue of $240.65 million for the quarter, compared to analyst estimates of $227.88 million. Fulton Financial had a return on equity of 11.23% and a net margin of 28.15%. During the same quarter in the previous year, the company earned $0.38 earnings per share. On average, equities research analysts anticipate that Fulton Financial Co. will post 1.7 EPS for the current year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, September 30th. Fulton Financial's payout ratio is 37.04%.

Insider Buying and Selling at Fulton Financial

In other news, EVP Angela M. Snyder sold 4,138 shares of the company's stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $17.53, for a total transaction of $72,539.14. Following the sale, the executive vice president now owns 37,490 shares of the company's stock, valued at $657,199.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. DA Davidson reiterated a "neutral" rating on shares of Fulton Financial in a report on Wednesday, July 27th. Jefferies Financial Group reduced their price target on shares of Fulton Financial from $17.00 to $14.00 in a research report on Monday, July 11th.

Fulton Financial Profile

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Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers secured consumer loans, including home equity loans and lines of credit, automobile loans, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial real estate, commercial and industrial, and construction loans, as well as equipment lease financing loans.