Fulton Financial (NASDAQ:FULT) Director Sells $96,400.00 in Stock

Key Points

• Director E Philip Wenger sold 5,000 shares of Fulton Financial at an average price of $19.28, resulting in a total transaction of $96,400 and a 5.24% decrease in his ownership.
• Fulton Financial stock is currently down 1.4%, trading at $18.81, with a market cap of $3.43 billion and a P/E ratio of 11.00.
• Recent analyst ratings show a consensus rating of "Hold" for Fulton Financial stock, with a price target range being increased by institutions such as DA Davidson and Keefe, Bruyette & Woods.

Fulton Financial Corporation (NASDAQ:FULT - Get Free Report) Director E Philip Wenger sold 5,000 shares of the company's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $19.28, for a total transaction of $96,400.00. Following the transaction, the director owned 90,477 shares in the company, valued at $1,744,396.56. The trade was a 5.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

E Philip Wenger also recently made the following trade(s):

• On Friday, July 25th, E Philip Wenger sold 5,000 shares of Fulton Financial stock. The stock was sold at an average price of $18.41, for a total transaction of $92,050.00.

Fulton Financial Stock Performance

NASDAQ FULT traded down $0.09 during mid-day trading on Friday, reaching $19.38. 4,244,803 shares of the stock were exchanged, compared to its average volume of 1,257,645. The business's 50 day moving average is $18.93 and its 200-day moving average is $17.94. Fulton Financial Corporation has a 1 year low of $14.32 and a 1 year high of $22.49. The company has a market capitalization of $3.53 billion, a P/E ratio of 11.33 and a beta of 0.85. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 0.92.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.12. The business had revenue of $328.45 million for the quarter, compared to the consensus estimate of $320.47 million. Fulton Financial had a net margin of 17.00% and a return on equity of 12.64%. During the same period last year, the firm posted $0.52 earnings per share. On average, equities research analysts forecast that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, October 1st. Fulton Financial's dividend payout ratio (DPR) is presently 42.11%.

Wall Street Analyst Weigh In

FULT has been the topic of several recent analyst reports. DA Davidson increased their price objective on shares of Fulton Financial from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Jefferies Financial Group reissued a "hold" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Zacks Research cut shares of Fulton Financial from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Keefe, Bruyette & Woods raised their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Finally, Piper Sandler reiterated a "neutral" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Fulton Financial has an average rating of "Hold" and an average price target of $21.13.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its stake in Fulton Financial by 42.4% in the second quarter. First Trust Advisors LP now owns 5,626,858 shares of the bank's stock worth $101,509,000 after acquiring an additional 1,676,495 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Fulton Financial by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 4,587,133 shares of the bank's stock worth $82,760,000 after buying an additional 50,122 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Fulton Financial by 10.0% during the 2nd quarter. American Century Companies Inc. now owns 2,859,152 shares of the bank's stock worth $51,579,000 after buying an additional 260,016 shares during the last quarter. Norges Bank purchased a new stake in shares of Fulton Financial during the 2nd quarter worth approximately $37,813,000. Finally, Millennium Management LLC lifted its position in shares of Fulton Financial by 149.9% during the 4th quarter. Millennium Management LLC now owns 1,478,735 shares of the bank's stock worth $28,510,000 after buying an additional 886,991 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company's stock.

Fulton Financial Company Profile

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.