Brown Advisory Inc. Sells 1,982 Shares of Fulton Financial Corp (FULT)

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Brown Advisory Inc. decreased its stake in Fulton Financial Corp (NASDAQ:FULT) by 2.4% during the 4th quarter, Holdings Channel reports. The firm owned 80,384 shares of the bank’s stock after selling 1,982 shares during the period. Brown Advisory Inc.’s holdings in Fulton Financial were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bessemer Group Inc. bought a new stake in Fulton Financial during the 4th quarter valued at $121,000. Great West Life Assurance Co. Can raised its stake in Fulton Financial by 7.0% during the 4th quarter. Great West Life Assurance Co. Can now owns 106,048 shares of the bank’s stock valued at $1,521,000 after acquiring an additional 6,902 shares in the last quarter. Employees Retirement System of Texas bought a new stake in Fulton Financial during the 4th quarter valued at $1,765,000. HAP Trading LLC bought a new stake in Fulton Financial during the 4th quarter valued at $432,000. Finally, Northern Trust Corp raised its stake in Fulton Financial by 0.4% during the 4th quarter. Northern Trust Corp now owns 4,288,367 shares of the bank’s stock valued at $66,384,000 after acquiring an additional 17,688 shares in the last quarter. 65.88% of the stock is currently owned by institutional investors and hedge funds.

FULT has been the topic of several recent analyst reports. BidaskClub raised Fulton Financial from a “hold” rating to a “buy” rating in a research note on Saturday, January 5th. Piper Jaffray Companies downgraded Fulton Financial from an “overweight” rating to a “neutral” rating and cut their target price for the company from $19.00 to $17.50 in a research note on Thursday, January 17th. Barclays reiterated a “buy” rating and set a $21.00 price target on shares of Fulton Financial in a research report on Friday, January 11th. ValuEngine upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. Finally, Zacks Investment Research cut Fulton Financial from a “buy” rating to a “hold” rating in a research report on Friday, January 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $18.92.

Shares of FULT stock opened at $15.79 on Friday. Fulton Financial Corp has a 1 year low of $14.38 and a 1 year high of $18.85. The firm has a market cap of $2.70 billion, a PE ratio of 13.45, a PEG ratio of 1.42 and a beta of 1.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.96 and a current ratio of 0.96.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, January 15th. The bank reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). Fulton Financial had a net margin of 22.66% and a return on equity of 9.25%. The firm had revenue of $215.65 million for the quarter, compared to analyst estimates of $215.11 million. During the same quarter last year, the business posted $0.28 earnings per share. As a group, research analysts expect that Fulton Financial Corp will post 1.4 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be given a dividend of $0.13 per share. The ex-dividend date is Friday, March 29th. This is a boost from Fulton Financial’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 3.29%. Fulton Financial’s dividend payout ratio (DPR) is 40.68%.

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About Fulton Financial

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

Further Reading: What are convertible shares? 

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Institutional Ownership by Quarter for Fulton Financial (NASDAQ:FULT)

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