Fulton Financial Co. (NASDAQ:FULT) CEO Curtis J. Myers Sells 24,192 Shares

Fulton Financial Co. (NASDAQ:FULT) CEO Curtis J. Myers sold 24,192 shares of the company’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 sale, the chief executive officer now owns 155,946 shares in the company, valued at approximately $3,299,817.36. The trade was a 13.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Fulton Financial Stock Down 1.2 %

Shares of NASDAQ:FULT traded down $0.26 during mid-day trading on Monday, hitting $20.98. 661,345 shares of the company traded hands, compared to its average volume of 1,446,397. The stock has a market cap of $3.82 billion, a P/E ratio of 13.44 and a beta of 0.77. The stock has a 50-day moving average price of $19.39 and a two-hundred day moving average price of $18.28. Fulton Financial Co. has a 12-month low of $13.87 and a 12-month high of $22.49. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The company had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. On average, equities research analysts forecast that Fulton Financial Co. will post 1.74 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s dividend payout ratio is presently 43.04%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FULT shares. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods boosted their target price on Fulton Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler set a $21.00 price target on Fulton Financial in a report on Thursday, October 17th. Finally, Stephens upgraded Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.50.

Hedge Funds Weigh In On Fulton Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Seven Eight Capital LP bought a new position in shares of Fulton Financial during the 2nd quarter valued at approximately $485,000. Segall Bryant & Hamill LLC bought a new position in Fulton Financial during the third quarter valued at $3,489,000. American Century Companies Inc. increased its position in Fulton Financial by 18.6% in the second quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank’s stock worth $51,323,000 after buying an additional 474,099 shares during the last quarter. Legato Capital Management LLC bought a new stake in shares of Fulton Financial in the second quarter valued at $1,003,000. Finally, Good Life Advisors LLC purchased a new position in shares of Fulton Financial during the 3rd quarter valued at $830,000. Institutional investors own 72.02% of the company’s stock.

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.