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

Fulton Financial Corporation (NASDAQ:FULT) Director E. Wenger sold 5,000 shares of the stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $23.69, for a total transaction of $118,450.00. Following the transaction, the director owned 70,477 shares in the company, valued at approximately $1,669,600.13. The trade was a 6.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fulton Financial Price Performance

Shares of NASDAQ FULT traded down $0.09 during midday trading on Tuesday, reaching $24.05. The company’s stock had a trading volume of 577,203 shares, compared to its average volume of 1,874,176. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial Corporation has a fifty-two week low of $16.91 and a fifty-two week high of $25.23. The business’s 50 day moving average price is $23.15 and its two-hundred day moving average price is $22.46. The company has a market cap of $4.59 billion, a P/E ratio of 11.18 and a beta of 0.78.

Fulton Financial (NASDAQ:FULT) last released its 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. The company had revenue of $367.26 million for the quarter, compared to analyst estimates of $366.71 million. Fulton Financial had a return on equity of 12.79% and a net margin of 21.07%. During the same period in the prior year, the firm posted $0.55 EPS. On average, analysts forecast that Fulton Financial Corporation will post 2.26 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders 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 dividend yield of 3.2%. Fulton Financial’s payout ratio is presently 35.35%.

Institutional Trading of Fulton Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC increased its holdings in Fulton Financial by 8.6% during the 3rd quarter. Voya Investment Management LLC now owns 328,776 shares of the bank’s stock worth $7,417,000 after purchasing an additional 26,028 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Fulton Financial in the third quarter valued at approximately $347,000. Bessemer Group Inc. lifted its holdings in shares of Fulton Financial by 347.3% in the third quarter. Bessemer Group Inc. now owns 1,205,319 shares of the bank’s stock valued at $27,191,000 after purchasing an additional 935,876 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Fulton Financial by 14.7% during the third quarter. Hantz Financial Services Inc. now owns 14,225 shares of the bank’s stock valued at $321,000 after buying an additional 1,825 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Fulton Financial by 2.0% during the third quarter. Fisher Asset Management LLC now owns 3,051,013 shares of the bank’s stock valued at $68,831,000 after buying an additional 61,256 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.

Wall Street Analysts Forecast Growth

FULT has been the topic of several analyst reports. 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. Wall Street Zen upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fulton Financial in a report on Tuesday, October 27th. Stephens reaffirmed an “overweight” rating and issued a $25.00 target price (down from $26.00) on shares of Fulton Financial in a report on Tuesday, October 27th. Finally, DA Davidson lifted their price target on Fulton Financial from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Fulton Financial currently has a consensus rating of “Hold” and a consensus price target of $24.80.

About Fulton Financial

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.