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

Key Points

• Fulton Financial director E Philip Wenger sold 5,000 shares on July 13 at an average price of $24.14, totaling $120,700. After the sale, he still held 75,477 shares, a 6.21% reduction in his position.
• The stock has been trading near its 12-month high, recently rising to $24.21 versus a 12-month range of $16.60 to $24.71. The company has a market cap of $4.63 billion and a price-to-earnings ratio of 11.53.
• Fulton Financial posted stronger-than-expected earnings, reporting $0.55 EPS for the latest quarter versus the $0.50 consensus estimate. The company also announced a quarterly dividend of $0.19 per share, implying a 3.1% yield.

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 Monday, July 13th. The shares were sold at an average price of $24.14, for a total transaction of $120,700.00. Following the transaction, the director owned 75,477 shares in the company, valued at $1,822,014.78. This represents a 6.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Fulton Financial Stock Performance

Fulton Financial stock traded up $0.04 during midday trading on Tuesday, reaching $24.21. 1,572,907 shares of the company traded hands, compared to its average volume of 1,999,573. Fulton Financial Corporation has a 12 month low of $16.60 and a 12 month 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 has a 50 day moving average of $22.52 and a two-hundred day moving average of $21.38. The firm 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 - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. The firm had revenue of $331.86 million for 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 period in the prior year, the firm earned $0.52 EPS. As a group, research analysts predict that Fulton Financial Corporation will post 2.18 earnings per share for the current year.

Fulton Financial Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.1%. Fulton Financial's payout ratio is presently 36.19%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Fulton Financial

Several hedge funds and other institutional investors have recently made changes to their positions in FULT. Keybank National Association OH lifted its stake in Fulton Financial by 1.5% in the first quarter. Keybank National Association OH now owns 32,887 shares of the bank's stock worth $669,000 after purchasing an additional 485 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Fulton Financial by 2.6% in the first quarter. Cetera Investment Advisers now owns 21,829 shares of the bank's stock worth $444,000 after purchasing an additional 557 shares during the last quarter. State of Wyoming lifted its holdings in Fulton Financial by 13.4% during the 1st quarter. State of Wyoming now owns 4,829 shares of the bank's stock valued at $98,000 after buying an additional 570 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Fulton Financial by 2.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 23,924 shares of the bank's stock worth $467,000 after acquiring an additional 580 shares during the period. Finally, Root Financial Partners LLC grew 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 worth $26,000 after purchasing an additional 607 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company's stock.

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.

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