Fulton Financial (NASDAQ:FULT) Director E Philip Wenger Sells 5,000 Shares

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

Fulton Financial Stock Up 0.2%

Shares of NASDAQ:FULT opened at $24.21 on Wednesday. Fulton Financial Corporation has a 1 year low of $16.60 and a 1 year high of $24.71. 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 business’s 50-day moving average is $22.57 and its 200-day moving average is $21.41. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 11.53 and a beta of 0.79.

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

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.76 annualized dividend and a dividend yield of 3.1%. Fulton Financial’s dividend payout ratio (DPR) is 36.19%.

Hedge Funds Weigh In On Fulton Financial

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in shares of Fulton Financial by 4.9% in the first quarter. Royal Bank of Canada now owns 220,706 shares of the bank’s stock worth $3,992,000 after purchasing an additional 10,242 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Fulton Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,096 shares of the bank’s stock worth $1,955,000 after buying an additional 4,727 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Fulton Financial by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 448,832 shares of the bank’s stock worth $8,119,000 after buying an additional 21,596 shares in the last quarter. Jane Street Group LLC raised its position in Fulton Financial by 914.9% in the 1st quarter. Jane Street Group LLC now owns 308,243 shares of the bank’s stock valued at $5,576,000 after buying an additional 277,871 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Fulton Financial in the 1st quarter valued at $152,000. Institutional investors own 72.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. 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. Wall Street Zen lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Piper Sandler set a $23.00 price objective on shares of Fulton Financial and gave the stock a “neutral” rating in a research report on Friday, June 12th. Finally, Raymond James Financial raised their target price on Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $23.50.

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.