Insider Selling: Fulton Financial (NASDAQ:FULT) Director Sells 4,100 Shares

Key Points

• Insider sale: Fulton Financial Director Lisa Crutchfield sold 4,100 shares for approximately $101,680, reducing her holdings by 34.34% to 7,838 shares.
• Stock and dividend: FULT recently traded at $24.43, near its 12-month high of $25.23. The company pays a quarterly dividend of $0.19 per share, equivalent to a 3.1% annual yield.
• Analyst view: Wall Street’s consensus rating is “Hold,” with an average price target of $24.75, while institutional investors own about 72.02% of the company.

Fulton Financial Corporation (NASDAQ:FULT - Get Free Report) Director Lisa Crutchfield sold 4,100 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $24.80, for a total transaction of $101,680.00. Following the completion of the sale, the director owned 7,838 shares of the company's stock, valued at approximately $194,382.40. The trade was a 34.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fulton Financial Stock Performance

Shares of Fulton Financial stock traded down $0.28 during mid-day trading on Thursday, hitting $24.43. 678,691 shares of the stock were exchanged, compared to its average volume of 1,985,729. Fulton Financial Corporation has a 12 month low of $16.60 and a 12 month high of $25.23. The company has a 50-day simple moving average of $23.64 and a 200 day simple moving average of $21.95. The company has a market capitalization of $4.67 billion, a P/E ratio of 11.69 and a beta of 0.79. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 0.90.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.19 per share. The ex-dividend date of this dividend was 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 currently 36.36%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FULT. DA Davidson raised their price objective on shares of Fulton Financial from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Raymond James Financial lifted their price target on shares of Fulton Financial from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Weiss Ratings reissued a "buy (b)" rating on shares of Fulton Financial in a report on Wednesday, July 29th. Wall Street Zen raised Fulton Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Piper Sandler restated 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. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $24.75.

Institutional Trading of Fulton Financial

A number of institutional investors have recently modified their holdings of FULT. Dimensional Fund Advisors LP raised its holdings in Fulton Financial by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,177,001 shares of the bank's stock valued at $227,333,000 after acquiring an additional 87,813 shares during the period. First Trust Advisors LP boosted its holdings in shares of Fulton Financial by 31.2% in the first quarter. First Trust Advisors LP now owns 8,050,923 shares of the bank's stock worth $163,756,000 after acquiring an additional 1,912,709 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 acquiring an additional 1,054,321 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Fulton Financial by 219.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,822,385 shares of the bank's stock valued at $54,557,000 after purchasing an additional 1,939,260 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Fulton Financial during the 4th quarter valued at $44,271,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

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.

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