Brandywine Global Investment Management LLC lowered its stake in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 382,330 shares of the bank's stock after selling 17,611 shares during the quarter. Brandywine Global Investment Management LLC owned 0.21% of Fulton Financial worth $7,371,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in FULT. Jones Financial Companies Lllp lifted its holdings in shares of Fulton Financial by 193.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock valued at $25,000 after buying an additional 853 shares during the period. Quarry LP bought a new position in Fulton Financial in the third quarter valued at about $33,000. Nomura Asset Management Co. Ltd. boosted its position in Fulton Financial by 57.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock worth $42,000 after purchasing an additional 800 shares during the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Fulton Financial during the 4th quarter valued at about $44,000. Finally, Blue Trust Inc. grew its stake in shares of Fulton Financial by 10.3% during the 4th quarter. Blue Trust Inc. now owns 5,455 shares of the bank's stock valued at $99,000 after purchasing an additional 509 shares during the period. Institutional investors own 72.02% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on FULT. StockNews.com raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Stephens upgraded shares of Fulton Financial from an "equal weight" rating to an "overweight" rating in a research note on Monday, December 9th. DA Davidson upped their price objective on Fulton Financial from $21.00 to $22.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Hovde Group raised their target price on Fulton Financial from $22.00 to $22.50 and gave the stock a "market perform" rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods boosted their price target on Fulton Financial from $23.00 to $24.00 and gave the company a "market perform" rating in a report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Fulton Financial presently has an average rating of "Hold" and a consensus price target of $20.64.
Get Our Latest Stock Analysis on Fulton Financial
Insider Buying and Selling
In related news, President Angela M. Snyder sold 13,322 shares of the business's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the sale, the president now directly owns 63,682 shares in the company, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.07% of the stock is owned by company insiders.
Fulton Financial Price Performance
Fulton Financial stock traded down $1.11 during mid-day trading on Friday, hitting $15.13. The stock had a trading volume of 3,523,930 shares, compared to its average volume of 1,506,720. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. The firm's 50 day moving average is $19.13 and its 200 day moving average is $19.40. The firm has a market capitalization of $2.76 billion, a P/E ratio of 9.64 and a beta of 0.76. Fulton Financial Co. has a one year low of $13.87 and a one year high of $22.49.
Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the company earned $0.42 earnings per share. On average, sell-side analysts forecast that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.
Fulton Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.76%. The ex-dividend date is Tuesday, April 1st. Fulton Financial's dividend payout ratio (DPR) is presently 45.86%.
Fulton Financial Profile
(
Free Report)
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.
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