SG Americas Securities LLC Increases Stake in Fulton Financial Co. (NASDAQ:FULT)

SG Americas Securities LLC grew its position in Fulton Financial Co. (NASDAQ:FULT) by 900.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,081 shares of the bank’s stock after acquiring an additional 77,476 shares during the period. SG Americas Securities LLC’s holdings in Fulton Financial were worth $1,561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FULT. YHB Investment Advisors Inc. purchased a new position in shares of Fulton Financial during the 1st quarter worth approximately $36,000. Family Firm Inc. acquired a new stake in shares of Fulton Financial during the second quarter valued at $46,000. Blue Trust Inc. grew its holdings in shares of Fulton Financial by 21.9% during the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after buying an additional 691 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Fulton Financial during the 1st quarter worth $66,000. Finally, AE Wealth Management LLC purchased a new stake in Fulton Financial during the second quarter worth approximately $172,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Fulton Financial Stock Performance

NASDAQ:FULT opened at $17.17 on Wednesday. Fulton Financial Co. has a 1-year low of $11.99 and a 1-year high of $20.33. The stock has a market cap of $3.12 billion, a P/E ratio of 10.66 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a 50-day moving average of $18.06 and a two-hundred day moving average of $17.17.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, July 16th. The bank reported $0.47 EPS for the quarter, beating 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 the consensus estimate of $296.38 million. During the same quarter in the prior year, the business posted $0.47 earnings per share. Fulton Financial’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, research analysts expect that Fulton Financial Co. will post 1.73 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.96%. Fulton Financial’s dividend payout ratio (DPR) is presently 42.24%.

Analysts Set New Price Targets

Several research firms 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, July 18th. Jefferies Financial Group reduced their price objective on Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.