Alpenglow Capital Lp adds Fulton Financial Corp (FULT) to its portfolio

Fulton Financial Corp (FULT) : Alpenglow Capital Lp added new position in Fulton Financial Corp during the most recent quarter end. The investment management firm now holds 346,855 shares of Fulton Financial Corp which is valued at $6,069,963 , the company said in a statement filed on Nov 14, 2016 with the SEC.Fulton Financial Corp makes up approximately 4.27% of Alpenglow Capital Lp’s portfolio.

Other Hedge Funds, Including , Ahl Partners Llp boosted its stake in FULT in the latest quarter, The investment management firm added 90,520 additional shares and now holds a total of 112,260 shares of Fulton Financial Corp which is valued at $1,964,550. Fulton Financial Corp makes up approx 0.07% of Ahl Partners Llp’s portfolio.Teacher Retirement System Of Texas reduced its stake in FULT by selling 5,862 shares or 24.02% in the most recent quarter. The Hedge Fund company now holds 18,546 shares of FULT which is valued at $270,772.Texas Permanent School Fund reduced its stake in FULT by selling 800 shares or 0.6% in the most recent quarter. The Hedge Fund company now holds 131,836 shares of FULT which is valued at $1,957,765. Fulton Financial Corp makes up approx 0.03% of Texas Permanent School Fund’s portfolio.

Fulton Financial Corp opened for trading at $17.4 and hit $17.85 on the upside on Monday, eventually ending the session at $17.75, with a gain of 1.43% or 0.25 points. The heightened volatility saw the trading volume jump to 10,65,831 shares. Company has a market cap of $3,076 M.

On the company’s financial health, Fulton Financial Corp reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 18, 2016. Analyst had a consensus of $0.23. The company had revenue of $130.57 million for the quarter, compared to analysts expectations of $179.10 million. The company’s revenue was down -23.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.20 EPS.

Many Wall Street Analysts have commented on Fulton Financial Corp. Company shares were Downgraded by Hovde Group on Nov 18, 2016 to ” Market Perform”, Firm has raised the Price Target to $ 19 from a previous price target of $16.50 .Company shares were Reiterated by FBR & Co. on Oct 20, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 15 from a previous price target of $14 .Hovde Group Initiated Fulton Financial Corp on Sep 12, 2016 to “Outperform”, Price Target of the shares are set at $16.

Fulton Financial Corporation is a multi-bank financial holding company. The Company provides a range of banking and financial services to businesses and consumers through its six wholly owned banking subsidiaries: Fulton Bank N.A. Fulton Bank of New Jersey The Columbia Bank Lafayette Ambassador Bank FNB Bank N.A. and Swineford National Bank. In addition the Company owns the non-bank subsidiaries such as Fulton Reinsurance Company LTD Fulton Financial Realty Company Central Pennsylvania Financial Corp. FFC Management Inc. FFC Penn Square Inc. and Fulton Insurance Services Group Inc. The Company offers through its banking subsidiaries a range of retail and commercial banking services in Pennsylvania Delaware Maryland New Jersey and Virginia.

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