Fulton Financial Co. (NASDAQ:FULT) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 46.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,282 shares of the bank’s stock after selling 39,799 shares during the period. SG Americas Securities LLC’s holdings in Fulton Financial were worth $892,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in Fulton Financial by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 567,790 shares of the bank’s stock worth $11,007,000 after buying an additional 34,844 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Fulton Financial by 130.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank’s stock worth $10,104,000 after acquiring an additional 315,435 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Fulton Financial in the third quarter worth $3,489,000. Geode Capital Management LLC increased its holdings in shares of Fulton Financial by 2.0% during the third quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank’s stock valued at $79,264,000 after purchasing an additional 85,574 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Fulton Financial by 145.7% during the third quarter. BNP Paribas Financial Markets now owns 89,378 shares of the bank’s stock valued at $1,620,000 after purchasing an additional 52,997 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Price Performance

Shares of NASDAQ FULT opened at $20.44 on Wednesday. The company has a market cap of $3.72 billion, a PE ratio of 13.02 and a beta of 0.79. The company has a quick ratio of 0.93, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average price is $20.44 and its two-hundred day moving average price is $19.22. Fulton Financial Co. has a twelve month low of $13.87 and a twelve month high of $22.49.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period in the previous year, the firm earned $0.42 EPS. On average, analysts predict that Fulton Financial Co. will post 1.79 EPS for the current year.

Fulton Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.52%. This is an increase from Fulton Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, December 31st. Fulton Financial’s payout ratio is currently 45.86%.

Insider Activity at Fulton Financial

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FULT. StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 23rd. Piper Sandler set a $21.00 target price on Fulton Financial in a research report on Thursday, October 17th. Keefe, Bruyette & Woods increased their price objective on Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, January 23rd. Hovde Group lifted their target price on Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research note on Monday. Finally, DA Davidson increased their target price on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Fulton Financial presently has an average rating of “Hold” and an average price target of $20.64.

Fulton Financial Company 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.