Fulton Financial Corporation (NASDAQ:FULT) Director Sells $92,050.00 in Stock

Key Points

• E Philip Wenger, director of Fulton Financial Corporation, sold 5,000 shares at an average price of $18.41, totaling $92,050, reducing his ownership by 0.83% to 599,102 shares.
• Fulton Financial recently reported $0.55 earnings per share for the quarter, surpassing estimates of $0.43, alongside a revenue of $328.45 million compared to an estimated $320.47 million.
• The company announced a quarterly $0.18 dividend, representing an annualized yield of 3.87%, with a payout ratio of 42.11%.

Fulton Financial Corporation (NASDAQ:FULT - Get Free Report) Director E Philip Wenger sold 5,000 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $18.41, for a total transaction of $92,050.00. Following the transaction, the director owned 599,102 shares of the company's stock, valued at $11,029,467.82. This represents a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Fulton Financial Trading Down 2.3%

FULT traded down $0.41 during trading on Friday, reaching $17.55. The company had a trading volume of 493,181 shares, compared to its average volume of 1,422,806. Fulton Financial Corporation has a 12-month low of $14.32 and a 12-month high of $22.49. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 10.26 and a beta of 0.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 0.89. The firm's 50-day simple moving average is $18.15 and its 200 day simple moving average is $18.30.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.12. The business had revenue of $328.45 million for the quarter, compared to analyst estimates of $320.47 million. Fulton Financial had a return on equity of 12.44% and a net margin of 17.00%. During the same quarter in the prior year, the firm posted $0.52 EPS. Equities research analysts anticipate that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.72 annualized dividend and a yield of 4.1%. Fulton Financial's dividend payout ratio is 42.11%.

Hedge Funds Weigh In On Fulton Financial

Large investors have recently added to or reduced their stakes in the company. Quarry LP raised its holdings in Fulton Financial by 1,669.6% in the 1st quarter. Quarry LP now owns 1,982 shares of the bank's stock valued at $36,000 after acquiring an additional 1,870 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Fulton Financial by 57.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock worth $42,000 after acquiring an additional 800 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Fulton Financial by 42.2% in the 1st quarter. GAMMA Investing LLC now owns 3,072 shares of the bank's stock worth $56,000 after acquiring an additional 911 shares in the last quarter. Byrne Asset Management LLC boosted its holdings in shares of Fulton Financial by 114.5% in the 1st quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank's stock worth $58,000 after acquiring an additional 1,717 shares in the last quarter. Finally, Wealth Preservation Advisors LLC acquired a new position in shares of Fulton Financial in the 1st quarter worth approximately $60,000. Institutional investors and hedge funds own 72.02% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FULT shares. Jefferies Financial Group restated a "hold" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. DA Davidson upped their price objective on shares of Fulton Financial from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Piper Sandler reaffirmed a "neutral" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $21.13.

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.