Fulton Financial (NASDAQ:FULT) Director Sells $107,100.00 in Stock

Fulton Financial Corporation (NASDAQ:FULT) Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $21.42, for a total value of $107,100.00. Following the completion of the transaction, the director directly owned 80,477 shares in the company, valued at approximately $1,723,817.34. This trade represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Fulton Financial Trading Down 1.4%

NASDAQ FULT opened at $21.44 on Friday. The firm has a market capitalization of $3.86 billion, a P/E ratio of 10.31 and a beta of 0.81. The business has a fifty day simple moving average of $20.90 and a 200 day simple moving average of $19.62. Fulton Financial Corporation has a 12 month low of $15.52 and a 12 month high of $22.99. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.08.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Fulton Financial had a return on equity of 12.78% and a net margin of 20.68%.The firm had revenue of $336.02 million during the quarter, compared to the consensus estimate of $336.80 million. During the same quarter in the prior year, the company earned $0.48 EPS. On average, analysts predict that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, April 1st. Fulton Financial’s dividend payout ratio (DPR) is 36.54%.

Analysts Set New Price Targets

Several analysts have issued reports on FULT shares. Wall Street Zen lowered Fulton Financial from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. DA Davidson began coverage on Fulton Financial in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 price objective for the company. Finally, Weiss Ratings upgraded Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Fulton Financial has a consensus rating of “Hold” and a consensus target price of $22.00.

Institutional Investors Weigh In On Fulton Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FULT. Norges Bank purchased a new stake in Fulton Financial in the fourth quarter worth $44,271,000. Goldman Sachs Group Inc. grew its stake in Fulton Financial by 219.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,822,385 shares of the bank’s stock worth $54,557,000 after purchasing an additional 1,939,260 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Fulton Financial in the second quarter worth $22,069,000. Price T Rowe Associates Inc. MD grew its stake in Fulton Financial by 29.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,590,883 shares of the bank’s stock worth $88,743,000 after purchasing an additional 1,054,321 shares during the period. Finally, Millennium Management LLC grew its stake in Fulton Financial by 2,825.4% in the third quarter. Millennium Management LLC now owns 1,021,992 shares of the bank’s stock worth $19,040,000 after purchasing an additional 987,057 shares during the period. 72.02% of the stock is owned by hedge funds and other institutional investors.

About Fulton Financial

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.