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

Brandywine Global Investment Management LLC lowered its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 4.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 382,330 shares of the bank’s stock after selling 17,611 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Fulton Financial were worth $7,371,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Fulton Financial by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,358,099 shares of the bank’s stock valued at $42,752,000 after purchasing an additional 31,754 shares during the period. Cerity Partners LLC boosted its position in shares of Fulton Financial by 28.0% during the third quarter. Cerity Partners LLC now owns 49,399 shares of the bank’s stock worth $896,000 after purchasing an additional 10,820 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Fulton Financial in the 3rd quarter valued at $426,000. BNP Paribas Financial Markets increased its position in shares of Fulton Financial by 145.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 89,378 shares of the bank’s stock valued at $1,620,000 after buying an additional 52,997 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its stake in Fulton Financial by 18.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 15,113 shares of the bank’s stock worth $274,000 after buying an additional 2,387 shares during the period. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fulton Financial

In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the transaction, the president now owns 63,682 shares of the company’s stock, valued at $1,317,580.58. The trade was a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.07% of the company’s stock.

Fulton Financial Price Performance

Shares of FULT opened at $18.09 on Tuesday. The company has a 50 day moving average of $19.45 and a 200-day moving average of $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 stock has a market capitalization of $3.30 billion, a P/E ratio of 11.52 and a beta of 0.76. Fulton Financial Co. has a twelve month low of $13.87 and a twelve month high of $22.49.

Fulton Financial (NASDAQ:FULT) last released its 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 in the prior year, the company earned $0.42 earnings per share. As a group, equities research analysts forecast that Fulton Financial Co. will post 1.91 EPS 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. Investors of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 3.98%. Fulton Financial’s payout ratio is presently 45.86%.

Analyst Upgrades and Downgrades

FULT has been the subject of a number of research analyst reports. Hovde Group boosted their target price on Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods boosted their price objective on Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, January 23rd. StockNews.com upgraded 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 report on Monday, December 9th. Finally, DA Davidson raised their price objective 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. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.64.

Fulton Financial 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.