Segall Bryant & Hamill LLC Acquires New Position in Fulton Financial Co. (NASDAQ:FULT)

Segall Bryant & Hamill LLC acquired a new stake in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 192,457 shares of the bank's stock, valued at approximately $3,489,000. Segall Bryant & Hamill LLC owned 0.11% of Fulton Financial at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Millennium Management LLC grew its holdings in Fulton Financial by 511.1% during the second quarter. Millennium Management LLC now owns 3,256,000 shares of the bank's stock worth $55,287,000 after acquiring an additional 2,723,170 shares during the period. Emerald Advisers LLC grew its stake in shares of Fulton Financial by 213.6% during the 3rd quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank's stock worth $23,706,000 after purchasing an additional 890,630 shares during the period. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Fulton Financial by 272.2% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank's stock valued at $15,622,000 after purchasing an additional 630,152 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Fulton Financial by 710.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank's stock valued at $11,880,000 after purchasing an additional 613,272 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Fulton Financial by 28.8% during the second quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank's stock worth $43,164,000 after buying an additional 567,771 shares in the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Price Performance

Shares of Fulton Financial stock traded up $0.37 during mid-day trading on Friday, reaching $21.61. 1,317,383 shares of the stock traded hands, compared to its average volume of 1,580,534. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $18.74 and a 200 day moving average of $17.98. The stock has a market capitalization of $3.93 billion, a PE ratio of 13.68 and a beta of 0.73. Fulton Financial Co. has a fifty-two week low of $13.84 and a fifty-two week high of $21.72.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.06. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. The company had revenue of $487.33 million for the quarter, compared to analyst estimates of $321.00 million. During the same quarter last year, the firm posted $0.43 EPS. On average, analysts predict that Fulton Financial Co. will post 1.74 EPS for the current year.

Fulton Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.15%. Fulton Financial's payout ratio is presently 43.04%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FULT shares. Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a report on Thursday, October 17th. StockNews.com lowered Fulton Financial from a "hold" rating to a "sell" rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $18.83.

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.