Fulton Financial (NASDAQ:FULT) Shares Pass Above 200-Day Moving Average - Should You Sell?

Key Points

• Fulton Financial shares rose above their 200-day moving average, trading as high as $23.60 versus the $22.42 average, signaling improved technical momentum.
• Analysts remain cautious overall, with two Buy and four Hold ratings producing a consensus “Hold” rating and an average price target of $24.75.
• The bank exceeded quarterly expectations, reporting $0.60 in EPS and $367.87 million in revenue, while maintaining a $0.19 quarterly dividend, equivalent to a 3.2% annual yield.

Fulton Financial Corporation (NASDAQ:FULT - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $22.42 and traded as high as $23.60. Fulton Financial shares last traded at $23.60, with a volume of 1,056,956 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Fulton Financial in a report on Wednesday, July 29th. DA Davidson boosted their target price on shares of Fulton Financial from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Raymond James Financial upped their target price on shares of Fulton Financial from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Wall Street Zen upgraded shares of Fulton Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $27.00 price target (up from $23.00) on shares of Fulton Financial in a research note on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $24.75.

Fulton Financial Price Performance

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.15. The company has a market cap of $4.51 billion, a PE ratio of 11.29 and a beta of 0.78. The firm has a 50 day moving average of $24.16 and a two-hundred day moving average of $22.42.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.07. Fulton Financial had a return on equity of 12.68% and a net margin of 20.63%.The business had revenue of $367.87 million during the quarter, compared to analysts' expectations of $358.83 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. The firm's quarterly revenue was up 12.2% compared to the same quarter last year. Research analysts predict that Fulton Financial Corporation will post 2.23 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.19 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.76 dividend on an annualized basis and a yield of 3.2%. Fulton Financial's payout ratio is presently 36.36%.

Insider Transactions at Fulton Financial

In related news, Director E. Wenger sold 5,000 shares of the 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 sale, the director directly owned 75,477 shares of the company's stock, valued at approximately $1,822,014.78. This represents a 6.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lisa Crutchfield sold 4,100 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $24.80, for a total transaction of $101,680.00. Following the sale, the director owned 7,838 shares of the company's stock, valued at approximately $194,382.40. This represents a 34.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.01% of the company's stock.

Institutional Investors Weigh In On Fulton Financial

A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Fulton Financial in the 2nd quarter worth $676,732,000. California State Teachers Retirement System lifted its holdings in shares of Fulton Financial by 2,255.5% during the second quarter. California State Teachers Retirement System now owns 5,234,353 shares of the bank's stock valued at $126,619,000 after purchasing an additional 5,012,137 shares in the last quarter. Norges Bank bought a new position in shares of Fulton Financial during the fourth quarter valued at $44,271,000. Goldman Sachs Group Inc. boosted its position in shares of Fulton Financial by 219.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,822,385 shares of the bank's stock valued at $54,557,000 after buying an additional 1,939,260 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Fulton Financial by 31.2% during the first quarter. First Trust Advisors LP now owns 8,050,923 shares of the bank's stock valued at $163,756,000 after buying an additional 1,912,709 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, 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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