Dimensional Fund Advisors LP Sells 554,852 Shares of Fulton Financial Co. (NASDAQ:FULT)

Dimensional Fund Advisors LP decreased its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,293,742 shares of the bank’s stock after selling 554,852 shares during the quarter. Dimensional Fund Advisors LP owned about 6.96% of Fulton Financial worth $143,655,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FULT. LPL Financial LLC grew its stake in Fulton Financial by 6.6% in the fourth quarter. LPL Financial LLC now owns 12,221 shares of the bank’s stock valued at $155,000 after acquiring an additional 762 shares during the period. RKL Wealth Management LLC lifted its holdings in shares of Fulton Financial by 2.1% during the 4th quarter. RKL Wealth Management LLC now owns 46,149 shares of the bank’s stock valued at $587,000 after purchasing an additional 942 shares in the last quarter. Perigon Wealth Management LLC acquired a new position in shares of Fulton Financial in the 4th quarter valued at approximately $27,000. McClarren Financial Advisors Inc. bought a new stake in Fulton Financial during the 4th quarter worth approximately $30,000. Finally, Rhumbline Advisers raised its holdings in Fulton Financial by 0.6% during the 4th quarter. Rhumbline Advisers now owns 600,672 shares of the bank’s stock worth $7,641,000 after buying an additional 3,709 shares during the period. Hedge funds and other institutional investors own 62.56% of the company’s stock.

NASDAQ FULT opened at $17.03 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.54. Fulton Financial Co. has a 12-month low of $8.89 and a 12-month high of $18.41. The company has a market capitalization of $2.77 billion, a PE ratio of 15.34 and a beta of 0.82. The firm’s 50 day moving average is $16.74 and its 200-day moving average is $13.48.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Monday, January 18th. The bank reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Fulton Financial had a net margin of 18.30% and a return on equity of 7.75%. The business had revenue of $220.15 million during the quarter, compared to the consensus estimate of $219.12 million. During the same period last year, the business posted $0.33 EPS. As a group, sell-side analysts expect that Fulton Financial Co. will post 1.08 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 1st will be given a $0.14 dividend. The ex-dividend date is Wednesday, March 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.29%. This is an increase from Fulton Financial’s previous quarterly dividend of $0.13. Fulton Financial’s payout ratio is currently 40.29%.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, March 23rd. Raymond James cut Fulton Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday.

About Fulton Financial

Fulton Financial Corporation operates as a 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 secured consumer loans, including home equity loans and lines of credit, automobile loans, 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.

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

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