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

Fulton Financial Corporation (NASDAQ:FULT) Director E Philip Wenger sold 5,000 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $18.41, for a total value of $92,050.00. Following the completion of the sale, the director owned 599,102 shares of the company’s stock, valued at $11,029,467.82. The trade was a 0.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Fulton Financial Trading Up 0.1%

NASDAQ:FULT opened at $18.62 on Tuesday. The company has a market capitalization of $3.38 billion, a P/E ratio of 10.89 and a beta of 0.77. The stock’s 50 day moving average price is $18.11 and its 200 day moving average price is $18.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 0.89. Fulton Financial Corporation has a 52 week low of $14.32 and a 52 week high of $22.49.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.43 by $0.12. The company had revenue of $328.45 million during the quarter, compared to the consensus estimate of $320.47 million. Fulton Financial had a net margin of 17.00% and a return on equity of 12.44%. During the same period in the previous year, the firm posted $0.52 earnings per share. On average, research analysts forecast that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a $0.18 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.87%. Fulton Financial’s dividend payout ratio is currently 42.11%.

Analysts Set New Price Targets

FULT has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on Fulton Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Thursday, July 17th. DA Davidson upped their price objective on shares of Fulton Financial from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Jefferies Financial Group reiterated a “hold” rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Finally, Piper Sandler restated a “neutral” rating on shares of Fulton Financial in a report on Wednesday, July 9th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.13.

Institutional Trading of Fulton Financial

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Fulton Financial by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 22,383,504 shares of the bank’s stock worth $431,554,000 after purchasing an additional 285,376 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Fulton Financial by 5.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,321,387 shares of the bank’s stock worth $83,316,000 after buying an additional 216,118 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Fulton Financial by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 2,517,149 shares of the bank’s stock worth $48,530,000 after buying an additional 47,338 shares during the period. Norges Bank acquired a new position in Fulton Financial in the 4th quarter valued at $38,010,000. Finally, First Trust Advisors LP raised its holdings in Fulton Financial by 61.7% in the 4th quarter. First Trust Advisors LP now owns 1,770,377 shares of the bank’s stock worth $34,133,000 after acquiring an additional 675,819 shares during the period. Institutional investors own 72.02% of the company’s stock.

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.