Atul Malhotra Purchases 1,100 Shares of Fulton Financial Co. (NASDAQ:FULT) Stock

Fulton Financial Co. (NASDAQ:FULT) insider Atul Malhotra bought 1,100 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average price of $18.60 per share, for a total transaction of $20,460.00. Following the completion of the purchase, the insider now directly owns 1,111 shares in the company, valued at $20,664.60. The trade was a 10,000.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Fulton Financial Trading Up 0.5 %

Shares of FULT stock opened at $16.93 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a fifty day moving average of $17.42 and a 200-day moving average of $19.15. Fulton Financial Co. has a 52-week low of $14.33 and a 52-week high of $22.49. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 10.78 and a beta of 0.68.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. The firm had revenue of $322.64 million during the quarter, compared to analysts’ expectations of $315.07 million. During the same quarter last year, the company earned $0.40 earnings per share. On average, equities research analysts forecast that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend was Tuesday, April 1st. Fulton Financial’s dividend payout ratio (DPR) is 42.35%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FULT shares. Piper Sandler lowered their price target on Fulton Financial from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. DA Davidson reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Fulton Financial in a research report on Wednesday, April 16th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Hovde Group boosted their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Fulton Financial from $24.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Fulton Financial has an average rating of “Hold” and a consensus target price of $19.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp increased its position in shares of Fulton Financial by 193.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank’s stock worth $25,000 after purchasing an additional 853 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Fulton Financial by 57.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank’s stock worth $42,000 after buying an additional 800 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new stake in shares of Fulton Financial during the fourth quarter worth approximately $44,000. GAMMA Investing LLC raised its stake in shares of Fulton Financial by 42.2% in the first quarter. GAMMA Investing LLC now owns 3,072 shares of the bank’s stock valued at $56,000 after acquiring an additional 911 shares during the last quarter. Finally, 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. 72.02% of the stock is owned by institutional investors.

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.