BB&T Corp Has $658,000 Stake in Fulton Financial Corp (NASDAQ:FULT)
BB&T Corp lowered its stake in shares of Fulton Financial Corp (NASDAQ:FULT) by 4.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 40,653 shares of the bank’s stock after selling 1,969 shares during the period. BB&T Corp’s holdings in Fulton Financial were worth $658,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Northern Trust Corp boosted its stake in Fulton Financial by 1.0% during the 2nd quarter. Northern Trust Corp now owns 4,281,776 shares of the bank’s stock valued at $70,093,000 after purchasing an additional 43,119 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Fulton Financial by 16.1% during the 2nd quarter. Janus Henderson Group PLC now owns 2,511,773 shares of the bank’s stock valued at $41,118,000 after purchasing an additional 348,292 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Fulton Financial by 12.0% during the 2nd quarter. Victory Capital Management Inc. now owns 2,107,541 shares of the bank’s stock valued at $34,500,000 after purchasing an additional 225,612 shares during the last quarter. LSV Asset Management boosted its stake in Fulton Financial by 41.3% during the 2nd quarter. LSV Asset Management now owns 2,014,859 shares of the bank’s stock valued at $32,983,000 after purchasing an additional 588,884 shares during the last quarter. Finally, Fulton Bank N.A. boosted its stake in Fulton Financial by 1.4% during the 2nd quarter. Fulton Bank N.A. now owns 1,994,692 shares of the bank’s stock valued at $32,653,000 after purchasing an additional 26,929 shares during the last quarter. Institutional investors and hedge funds own 64.84% of the company’s stock.
FULT has been the subject of a number of analyst reports. Zacks Investment Research upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Boenning Scattergood reiterated a “hold” rating on shares of Fulton Financial in a research note on Wednesday, July 17th. BidaskClub upgraded Fulton Financial from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, ValuEngine downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Fulton Financial presently has a consensus rating of “Hold” and an average price target of $18.83.
Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. Fulton Financial had a return on equity of 10.31% and a net margin of 22.88%. The firm had revenue of $221.07 million for the quarter, compared to the consensus estimate of $222.21 million. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Fulton Financial Corp will post 1.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.93%. Fulton Financial’s payout ratio is presently 44.07%.
Fulton Financial Profile
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.
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