Fulton Financial (NASDAQ:FULT) Director Sells $118,450.00 in Stock

Fulton Financial Corporation (NASDAQ:FULT) Director E. Wenger sold 5,000 shares of Fulton Financial stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $23.69, for a total value of $118,450.00. Following the completion of the transaction, the director owned 70,477 shares of the company’s stock, valued at $1,669,600.13. This trade represents a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Fulton Financial Stock Down 0.7%

Shares of NASDAQ:FULT opened at $23.84 on Friday. The firm has a 50-day simple moving average of $23.18 and a 200 day simple moving average of $22.51. Fulton Financial Corporation has a fifty-two week low of $16.91 and a fifty-two week high of $25.23. The company has a market cap of $4.51 billion, a PE ratio of 11.09 and a beta of 0.78.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Wednesday, October 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.07. Fulton Financial had a return on equity of 12.97% and a net margin of 21.07%. The business had revenue of $367.26 million for the quarter, compared to the consensus estimate of $366.71 million. During the same quarter last year, the business posted $0.55 EPS. As a group, research analysts forecast that Fulton Financial Corporation will post 2.27 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were given a $0.19 dividend. The ex-dividend date was Thursday, October 1st. This represents a $0.76 annualized dividend and a yield of 3.2%. Fulton Financial’s dividend payout ratio is 35.35%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FULT shares. DA Davidson boosted their price objective on Fulton Financial from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Fulton Financial in a report on Tuesday, October 27th. Stephens reissued an “overweight” rating and set a $25.00 target price (down from $26.00) on shares of Fulton Financial in a research note on Tuesday, October 27th. Wall Street Zen raised 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 set a $27.00 price target (up from $23.00) on shares of Fulton Financial in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Fulton Financial has an average rating of “Hold” and a consensus price target of $24.80.

Institutional Trading of Fulton Financial

Hedge funds have recently bought and sold shares of the company. Axiom Investment Management LLC acquired a new position in Fulton Financial in the 1st quarter worth approximately $28,000. Meeder Asset Management Inc. lifted its stake in Fulton Financial by 233.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,966 shares of the bank’s stock worth $44,000 after acquiring an additional 1,377 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Fulton Financial during the 1st quarter worth about $53,000. Compass Financial Management LLC acquired a new position in shares of Fulton Financial in the 2nd quarter valued at about $66,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Fulton Financial in the second quarter worth approximately $66,000. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Company Profile

Fulton Financial Corporation is a bank holding company headquartered in Lancaster, Pennsylvania. Its principal subsidiary, Fulton Bank, provides banking and financial services to individuals, businesses and nonprofit organizations. The company offers consumer and commercial deposit accounts, loans and other credit products, as well as mortgage, wealth management and related financial services. Its roots in banking date to the founding of Fulton National Bank in Lancaster in 1882. Fulton serves communities across the Mid-Atlantic, including Pennsylvania, Delaware, Maryland, New Jersey and Virginia.