Brown Advisory Inc. cut its position in shares of Fulton Financial Corp. (NASDAQ:FULT) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 35,681 shares of the company’s stock after selling 427 shares during the period. Brown Advisory Inc.’s holdings in Fulton Financial Corp. were worth $481,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Victory Capital Management Inc. boosted its stake in shares of Fulton Financial Corp. by 77.3% in the second quarter. Victory Capital Management Inc. now owns 7,989 shares of the company’s stock worth $108,000 after buying an additional 3,484 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Fulton Financial Corp. by 34.0% in the first quarter. Envestnet Asset Management Inc. now owns 10,307 shares of the company’s stock worth $138,000 after buying an additional 2,615 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Fulton Financial Corp. by 76.7% in the second quarter. LS Investment Advisors LLC now owns 10,458 shares of the company’s stock worth $141,000 after buying an additional 4,538 shares during the period. Wagner Bowman Management Corp boosted its stake in shares of Fulton Financial Corp. by 0.6% in the second quarter. Wagner Bowman Management Corp now owns 11,878 shares of the company’s stock worth $160,000 after buying an additional 74 shares during the period. Finally, Bbva Compass Bancshares Inc. purchased a new stake in shares of Fulton Financial Corp. during the second quarter worth about $162,000. Institutional investors own 59.12% of the company’s stock.
Fulton Financial Corp. (NASDAQ:FULT) opened at 14.52 on Friday. Fulton Financial Corp. has a 52 week low of $11.48 and a 52 week high of $14.86. The stock has a 50 day moving average of $14.31 and a 200 day moving average of $13.82. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 16.73 and a beta of 1.28.
Fulton Financial Corp. (NASDAQ:FULT) last announced its earnings results on Tuesday, July 19th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. Fulton Financial Corp. had a net margin of 19.52% and a return on equity of 7.31%. Equities research analysts predict that Fulton Financial Corp. will post $0.91 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, September 28th. Fulton Financial Corp.’s dividend payout ratio (DPR) is presently 45.98%.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Fulton Financial Corp. from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Tuesday, September 20th. Hovde Group began coverage on shares of Fulton Financial Corp. in a report on Monday, September 12th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, FBR & Co reissued a “hold” rating on shares of Fulton Financial Corp. in a report on Wednesday, July 20th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $13.89.
In related news, EVP Curtis J. Myers sold 15,580 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $14.34, for a total value of $223,417.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Philmer H. Rohrbaugh purchased 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was bought at an average cost of $13.96 per share, with a total value of $195,440.00. The disclosure for this purchase can be found here. 0.75% of the stock is owned by corporate insiders.
About Fulton Financial Corp.
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 banking subsidiaries: Fulton Bank, N.A., Fulton Bank of New Jersey, The Columbia Bank, Lafayette Ambassador Bank, FNB Bank, N.A.
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