ProShare Advisors LLC Sells 81,320 Shares of Fulton Financial Co. (NASDAQ:FULT)

ProShare Advisors LLC cut its holdings in Fulton Financial Co. (NASDAQ:FULT) by 15.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 436,262 shares of the bank’s stock after selling 81,320 shares during the period. ProShare Advisors LLC’s holdings in Fulton Financial were worth $7,408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FULT. YHB Investment Advisors Inc. acquired a new stake in Fulton Financial during the first quarter worth approximately $36,000. OLD Point Trust & Financial Services N A bought a new position in shares of Fulton Financial during the 4th quarter worth approximately $38,000. Family Firm Inc. acquired a new stake in shares of Fulton Financial during the 2nd quarter worth approximately $46,000. Blue Trust Inc. increased its stake in shares of Fulton Financial by 21.9% in the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after acquiring an additional 691 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Fulton Financial in the 1st quarter valued at $66,000. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Trading Down 2.0 %

NASDAQ:FULT opened at $18.03 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.93 and a quick ratio of 0.93. Fulton Financial Co. has a one year low of $11.63 and a one year high of $20.33. The company has a market cap of $3.28 billion, a PE ratio of 11.20 and a beta of 0.74. The firm has a 50-day moving average of $18.51 and a 200-day moving average of $17.01.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, July 16th. The bank reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.22. Fulton Financial had a return on equity of 11.29% and a net margin of 17.93%. The firm had revenue of $334.71 million during the quarter, compared to analyst estimates of $296.38 million. During the same period in the previous year, the company posted $0.47 EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, equities research analysts expect that Fulton Financial Co. will post 1.73 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Tuesday, October 1st. Fulton Financial’s dividend payout ratio is 42.24%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FULT. Jefferies Financial Group cut their target price on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.40.

About Fulton Financial

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.