SG Americas Securities LLC Has $2.68 Million Stock Position in Fulton Financial Corporation $FULT

SG Americas Securities LLC boosted its stake in shares of Fulton Financial Corporation (NASDAQ:FULT) by 28.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 138,588 shares of the bank’s stock after acquiring an additional 30,512 shares during the quarter. SG Americas Securities LLC owned approximately 0.08% of Fulton Financial worth $2,679,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FULT. First Trust Advisors LP lifted its position in shares of Fulton Financial by 0.4% during the third quarter. First Trust Advisors LP now owns 5,646,713 shares of the bank’s stock worth $105,198,000 after purchasing an additional 19,855 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Fulton Financial by 25.3% in the third quarter. American Century Companies Inc. now owns 3,583,100 shares of the bank’s stock valued at $66,753,000 after purchasing an additional 723,948 shares in the last quarter. Fisher Asset Management LLC raised its position in Fulton Financial by 6.4% in the 3rd quarter. Fisher Asset Management LLC now owns 3,363,509 shares of the bank’s stock worth $62,662,000 after purchasing an additional 203,708 shares during the last quarter. Norges Bank bought a new position in Fulton Financial in the 2nd quarter worth approximately $37,813,000. Finally, Fulton Bank N.A. lifted its holdings in Fulton Financial by 1.6% during the 3rd quarter. Fulton Bank N.A. now owns 1,732,904 shares of the bank’s stock worth $32,284,000 after buying an additional 27,570 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Insider Activity

In other news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $19.55, for a total value of $97,750.00. Following the completion of the sale, the director directly owned 85,477 shares of the company’s stock, valued at $1,671,075.35. This represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.08% of the company’s stock.

Fulton Financial Stock Performance

Shares of Fulton Financial stock opened at $20.53 on Friday. The firm has a fifty day moving average of $20.83 and a two-hundred day moving average of $19.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 9.87 and a beta of 0.81. Fulton Financial Corporation has a 52 week low of $14.32 and a 52 week high of $22.99.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Wednesday, January 21st. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. Fulton Financial had a return on equity of 12.78% and a net margin of 20.68%.The business had revenue of $336.02 million for the quarter, compared to analyst estimates of $336.80 million. During the same period last year, the company earned $0.48 EPS. As a group, equities research analysts predict that Fulton Financial Corporation will post 1.91 EPS for the current year.

Fulton Financial declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 16th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the bank to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, April 1st. This represents a $0.76 dividend on an annualized basis and a yield of 3.7%. Fulton Financial’s dividend payout ratio (DPR) is 36.54%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FULT. DA Davidson initiated coverage on Fulton Financial in a research report on Wednesday, February 25th. They set a “neutral” rating and a $24.00 target price for the company. Weiss Ratings upgraded Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.50.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.