SG Americas Securities LLC Lowers Position in Fulton Financial Co. (NASDAQ:FULT)

SG Americas Securities LLC cut its holdings in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 46.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,282 shares of the bank's stock after selling 39,799 shares during the quarter. SG Americas Securities LLC's holdings in Fulton Financial were worth $892,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FULT. TD Private Client Wealth LLC grew its stake in shares of Fulton Financial by 11.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank's stock valued at $118,000 after purchasing an additional 676 shares during the period. Blue Trust Inc. grew its stake in shares of Fulton Financial by 28.8% in the 3rd quarter. Blue Trust Inc. now owns 4,946 shares of the bank's stock worth $84,000 after buying an additional 1,106 shares in the last quarter. Olympiad Research LP lifted its stake in shares of Fulton Financial by 13.5% in the 3rd quarter. Olympiad Research LP now owns 13,418 shares of the bank's stock valued at $243,000 after purchasing an additional 1,594 shares during the last quarter. Quarry LP purchased a new position in Fulton Financial during the third quarter worth $33,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Fulton Financial by 6.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,297 shares of the bank's stock worth $694,000 after purchasing an additional 2,211 shares during the period. Institutional investors own 72.02% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on FULT. Stephens upgraded Fulton Financial from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. DA Davidson lifted their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. StockNews.com raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Piper Sandler set a $21.00 price target on Fulton Financial in a research report on Thursday, October 17th. Finally, Hovde Group boosted their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a "market perform" rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $20.64.

Insiders Place Their Bets

In other news, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction on Friday, December 6th. The stock was sold at an average price of $21.16, for a total transaction of $511,902.72. Following the transaction, the chief executive officer now owns 155,946 shares in the company, valued at approximately $3,299,817.36. The trade was a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction on Monday, January 27th. The shares were sold at an average price of $20.69, for a total transaction of $275,632.18. Following the sale, the president now directly owns 63,682 shares of the company's stock, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.

Fulton Financial Price Performance

Shares of NASDAQ:FULT traded up $0.04 during midday trading on Wednesday, hitting $20.48. 1,047,158 shares of the stock were exchanged, compared to its average volume of 1,672,170. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.73 billion, a P/E ratio of 13.04 and a beta of 0.79. The company has a 50 day moving average price of $20.44 and a 200-day moving average price of $19.23. Fulton Financial Co. has a twelve month low of $13.87 and a twelve month high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 EPS for the quarter, topping the consensus estimate 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 quarter last year, the business earned $0.42 earnings per share. On average, research analysts forecast that Fulton Financial Co. will post 1.79 earnings per share for the current year.

Fulton Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.18 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.72 annualized dividend and a dividend yield of 3.52%. This is an increase from Fulton Financial's previous quarterly dividend of $0.17. Fulton Financial's payout ratio is presently 45.86%.

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.