Brandywine Global Investment Management LLC Sells 17,611 Shares of Fulton Financial Co. (NASDAQ:FULT)

Brandywine Global Investment Management LLC reduced its position in Fulton Financial Co. (NASDAQ:FULT) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 382,330 shares of the bank’s stock after selling 17,611 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.21% of Fulton Financial worth $7,371,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in shares of Fulton Financial by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 567,790 shares of the bank’s stock worth $11,007,000 after acquiring an additional 34,844 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Fulton Financial by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank’s stock worth $45,837,000 after purchasing an additional 19,329 shares during the period. JPMorgan Chase & Co. boosted its holdings in Fulton Financial by 130.4% during the third quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank’s stock valued at $10,104,000 after purchasing an additional 315,435 shares in the last quarter. EMC Capital Management grew its stake in shares of Fulton Financial by 151.2% in the 4th quarter. EMC Capital Management now owns 22,607 shares of the bank’s stock valued at $436,000 after purchasing an additional 13,607 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of Fulton Financial by 1,255.1% in the 4th quarter. Allworth Financial LP now owns 20,381 shares of the bank’s stock worth $420,000 after buying an additional 18,877 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Insider Activity

In related news, President Angela M. Snyder sold 13,322 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now directly owns 63,682 shares of the company’s stock, valued at $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 SEC, which is available at this link. 1.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FULT has been the topic of a number of analyst reports. Stephens upgraded Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. DA Davidson upped their target price on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Hovde Group increased their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research report on Monday, January 27th. StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.64.

Fulton Financial Stock Up 0.7 %

Shares of NASDAQ FULT opened at $18.09 on Tuesday. Fulton Financial Co. has a 12-month low of $13.87 and a 12-month high of $22.49. The firm’s 50-day simple moving average is $19.45 and its 200 day simple moving average is $19.45. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 11.52 and a beta of 0.76.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same period last year, the company earned $0.42 earnings per share. On average, research analysts expect that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.98%. Fulton Financial’s payout ratio is currently 45.86%.

Fulton Financial Company Profile

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.