Fulton Financial (NASDAQ:FULT) Director Sells $120,700.00 in Stock

Fulton Financial Corporation (NASDAQ:FULT) Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $24.14, for a total transaction of $120,700.00. Following the completion of the transaction, the director directly owned 75,477 shares of the company’s stock, valued at approximately $1,822,014.78. This represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Fulton Financial Price Performance

FULT opened at $25.19 on Friday. Fulton Financial Corporation has a one year low of $16.60 and a one year high of $25.23. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.90 and a quick ratio of 0.90. The company’s 50 day simple moving average is $22.70 and its 200-day simple moving average is $21.47. The stock has a market capitalization of $4.81 billion, a P/E ratio of 12.00 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. Fulton Financial had a net margin of 20.85% and a return on equity of 12.69%. The firm had revenue of $331.86 million during the quarter, compared to analysts’ expectations of $359.36 million. During the same quarter in the previous year, the company posted $0.52 EPS. Sell-side analysts anticipate that Fulton Financial Corporation will post 2.18 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.0%. Fulton Financial’s payout ratio is presently 36.19%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen cut Fulton Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Raymond James Financial boosted their price objective on Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Piper Sandler set a $23.00 target price on shares of Fulton Financial and gave the company a “neutral” rating in a research report on Friday, June 12th. Finally, Weiss Ratings raised shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.50.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC acquired a new stake in shares of Fulton Financial during the fourth quarter worth $25,000. Root Financial Partners LLC lifted its stake in Fulton Financial by 89.9% in the first quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after buying an additional 607 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in Fulton Financial in the fourth quarter valued at about $27,000. V Square Quantitative Management LLC bought a new position in Fulton Financial during the fourth quarter worth about $28,000. Finally, Torren Management LLC bought a new position in Fulton Financial during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

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.