SG Americas Securities LLC Buys 70,253 Shares of Fulton Financial Corporation (NASDAQ:FULT)

SG Americas Securities LLC raised its stake in Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 151.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,535 shares of the bank's stock after purchasing an additional 70,253 shares during the period. SG Americas Securities LLC owned 0.06% of Fulton Financial worth $2,108,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its position in Fulton Financial by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank's stock valued at $45,837,000 after buying an additional 19,329 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Fulton Financial by 6.3% during the fourth quarter. Federated Hermes Inc. now owns 291,302 shares of the bank's stock valued at $5,616,000 after acquiring an additional 17,182 shares in the last quarter. Allworth Financial LP raised its position in shares of Fulton Financial by 1,255.1% during the fourth quarter. Allworth Financial LP now owns 20,381 shares of the bank's stock worth $420,000 after purchasing an additional 18,877 shares during the period. Apollon Wealth Management LLC bought a new position in shares of Fulton Financial in the 4th quarter worth $329,000. Finally, Deutsche Bank AG lifted its holdings in shares of Fulton Financial by 50.1% in the 4th quarter. Deutsche Bank AG now owns 154,894 shares of the bank's stock worth $2,986,000 after purchasing an additional 51,670 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Piper Sandler lowered their price objective on shares of Fulton Financial from $22.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their target price on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $20.00 price target on shares of Fulton Financial in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $20.30.

Fulton Financial Stock Up 1.0%

Shares of FULT traded up $0.18 during trading hours on Wednesday, reaching $17.11. 655,067 shares of the stock traded hands, compared to its average volume of 1,415,244. Fulton Financial Corporation has a 52 week low of $14.33 and a 52 week high of $22.49. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 10.07 and a beta of 0.77. The stock has a fifty day simple moving average of $17.05 and a 200 day simple moving average of $18.61. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its earnings results on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. The firm had revenue of $322.64 million for the quarter, compared to analysts' expectations of $315.07 million. Fulton Financial had a net margin of 16.59% and a return on equity of 12.19%. During the same quarter last year, the firm earned $0.40 EPS. On average, equities analysts forecast that Fulton Financial Corporation will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.21%. Fulton Financial's dividend payout ratio (DPR) is presently 42.35%.

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.