E Philip Wenger Sells 5,000 Shares of Fulton Financial (NASDAQ:FULT) Stock

Fulton Financial Corporation (NASDAQ:FULT) Director E Philip Wenger sold 5,000 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $24.14, for a total transaction of $120,700.00. Following the completion of the sale, the director owned 75,477 shares in the company, valued at $1,822,014.78. The trade was a 6.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Fulton Financial Trading Up 0.9%

Shares of Fulton Financial stock opened at $24.42 on Thursday. The stock has a market cap of $4.67 billion, a PE ratio of 11.63 and a beta of 0.79. The firm has a fifty day moving average price of $22.63 and a 200 day moving average price of $21.44. Fulton Financial Corporation has a 1 year low of $16.60 and a 1 year high of $24.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.90 and a quick ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. The company had revenue of $331.86 million for the quarter, compared to analyst estimates of $359.36 million. Fulton Financial had a net margin of 20.85% and a return on equity of 12.69%. During the same period in the prior year, the company earned $0.52 earnings per share. Equities research analysts predict that Fulton Financial Corporation will post 2.18 earnings per share for the current year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Fulton Financial’s payout ratio is 36.19%.

Wall Street Analyst Weigh In

Several research firms recently commented on FULT. Wall Street Zen lowered Fulton Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Raymond James Financial upped their price objective on Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Piper Sandler set a $23.00 price objective on shares of Fulton Financial and gave the stock a “neutral” rating in a research note on Friday, June 12th. Finally, Weiss Ratings raised shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.50.

Institutional Trading of Fulton Financial

Institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC raised its stake in shares of Fulton Financial by 89.9% during the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock worth $26,000 after buying an additional 607 shares during the period. Kestra Advisory Services LLC acquired a new stake in Fulton Financial in the 4th quarter valued at $25,000. Eurizon Capital SGR S.p.A. purchased a new stake in Fulton Financial in the 4th quarter worth $27,000. Axiom Investment Management LLC purchased a new stake in Fulton Financial in the 1st quarter worth $28,000. Finally, Torren Management LLC acquired a new position in Fulton Financial during the fourth quarter worth $28,000. 72.02% of the stock is owned by institutional investors and hedge funds.

About Fulton Financial

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.