MetLife Investment Advisors LLC Has $2.84 Million Position in Fulton Financial Corp (FULT)
MetLife Investment Advisors LLC lessened its holdings in Fulton Financial Corp (NASDAQ:FULT) by 19.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,427 shares of the bank’s stock after selling 43,041 shares during the period. MetLife Investment Advisors LLC’s holdings in Fulton Financial were worth $2,839,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Toronto Dominion Bank purchased a new stake in shares of Fulton Financial during the 4th quarter valued at $39,000. ETF Managers Group LLC grew its position in Fulton Financial by 18.1% during the fourth quarter. ETF Managers Group LLC now owns 7,494 shares of the bank’s stock valued at $116,000 after buying an additional 1,148 shares during the period. Tower Research Capital LLC TRC grew its position in Fulton Financial by 223.8% during the third quarter. Tower Research Capital LLC TRC now owns 7,502 shares of the bank’s stock valued at $125,000 after buying an additional 5,185 shares during the period. Bessemer Group Inc. purchased a new stake in Fulton Financial during the fourth quarter worth about $121,000. Finally, Jane Street Group LLC bought a new stake in Fulton Financial in the third quarter worth about $168,000. Institutional investors own 66.97% of the company’s stock.
A number of research analysts have recently weighed in on FULT shares. BidaskClub downgraded shares of Fulton Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, March 22nd. Zacks Investment Research upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Tuesday. Boenning Scattergood restated a “hold” rating on shares of Fulton Financial in a research note on Wednesday, January 16th. ValuEngine lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Finally, Barclays restated a “buy” rating and set a $21.00 price target on shares of Fulton Financial in a research note on Friday, January 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $19.10.
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 Thomson Reuters’ consensus estimate of $0.35 by ($0.02). Fulton Financial had a return on equity of 9.25% and a net margin of 22.66%. The company had revenue of $215.65 million for the quarter, compared to analysts’ expectations of $215.11 million. During the same quarter in the previous year, the business earned $0.28 EPS. Equities analysts forecast that Fulton Financial Corp will post 1.4 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, March 29th. This represents a $0.52 annualized dividend and a dividend yield of 3.36%. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.12. Fulton Financial’s dividend payout ratio (DPR) is presently 40.68%.
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Fulton Financial Company 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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