Insider Selling: Fulton Financial (NASDAQ:FULT) Director Sells 5,000 Shares of Company Stock

Fulton Financial Corporation (NASDAQ:FULT) Director E. Wenger sold 5,000 shares of Fulton Financial stock in a transaction on Friday, November 6th. The stock was sold at an average price of $23.69, for a total transaction of $118,450.00. Following the transaction, the director directly owned 70,477 shares in the company, valued at $1,669,600.13. This represents a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Fulton Financial Stock Down 0.4%

Shares of FULT stock traded down $0.09 on Tuesday, hitting $24.05. The stock had a trading volume of 577,203 shares, compared to its average volume of 1,874,176. The business has a 50 day moving average of $23.15 and a 200 day moving average of $22.46. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 11.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. Fulton Financial Corporation has a 12-month low of $16.91 and a 12-month high of $25.23.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Wednesday, October 21st. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.07. Fulton Financial had a net margin of 21.07% and a return on equity of 12.79%. The business had revenue of $367.26 million for the quarter, compared to analysts’ expectations of $366.71 million. During the same period in the previous year, the company earned $0.55 earnings per share. As a group, analysts expect that Fulton Financial Corporation will post 2.26 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were given a $0.19 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.76 annualized dividend and a yield of 3.2%. Fulton Financial’s payout ratio is currently 35.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FULT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Fulton Financial in a research report on Tuesday, October 27th. Raymond James Financial lowered shares of Fulton Financial from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 6th. DA Davidson boosted their price objective on shares of Fulton Financial from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Piper Sandler reiterated a “neutral” rating and issued a $27.00 target price (up from $23.00) on shares of Fulton Financial in a research note on Monday, August 3rd. Finally, Wall Street Zen raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.80.

Hedge Funds Weigh In On Fulton Financial

A number of institutional investors have recently made changes to their positions in FULT. Axiom Investment Management LLC bought a new stake in Fulton Financial during the first quarter worth about $28,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Fulton Financial during the 1st quarter valued at $53,000. Compass Financial Management LLC bought a new position in shares of Fulton Financial during the 2nd quarter valued at $66,000. Public Employees Retirement System of Ohio purchased a new position in Fulton Financial in the 2nd quarter worth $66,000. Finally, First Command Advisory Services Inc. purchased a new position in Fulton Financial in the 3rd quarter worth $70,000. Institutional investors own 72.02% of the company’s stock.

About Fulton Financial

Fulton Financial Corporation is a bank holding company headquartered in Lancaster, Pennsylvania. Its principal subsidiary, Fulton Bank, provides banking and financial services to individuals, businesses and nonprofit organizations. The company offers consumer and commercial deposit accounts, loans and other credit products, as well as mortgage, wealth management and related financial services. Its roots in banking date to the founding of Fulton National Bank in Lancaster in 1882. Fulton serves communities across the Mid-Atlantic, including Pennsylvania, Delaware, Maryland, New Jersey and Virginia.