Fulton Financial Corp (NASDAQ:FULT) EVP Angela M. Sargent sold 13,780 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $16.26, for a total transaction of $224,062.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Fulton Financial stock opened at $16.30 on Friday. Fulton Financial Corp has a 12-month low of $15.05 and a 12-month high of $19.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 1.70 and a beta of 0.99.
Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, October 16th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.04. Fulton Financial had a net margin of 20.45% and a return on equity of 8.89%. The company had revenue of $214.23 million during the quarter, compared to analysts’ expectations of $209.72 million. During the same period last year, the company posted $0.28 earnings per share. As a group, sell-side analysts predict that Fulton Financial Corp will post 1.2 earnings per share for the current year.
The business also recently announced a special dividend, which will be paid on Friday, December 14th. Shareholders of record on Monday, December 3rd will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, November 30th. This is a boost from Fulton Financial’s previous special dividend of $0.03. This represents a yield of 2.89%. Fulton Financial’s dividend payout ratio (DPR) is 44.86%.
Institutional investors and hedge funds have recently modified their holdings of the company. SRS Capital Advisors Inc. purchased a new position in shares of Fulton Financial during the 3rd quarter worth approximately $105,000. Tower Research Capital LLC TRC increased its stake in shares of Fulton Financial by 223.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,502 shares of the bank’s stock worth $125,000 after purchasing an additional 5,185 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Fulton Financial during the 3rd quarter worth approximately $168,000. Raymond James & Associates purchased a new position in shares of Fulton Financial during the 2nd quarter worth approximately $180,000. Finally, Martingale Asset Management L P purchased a new position in shares of Fulton Financial during the 3rd quarter worth approximately $201,000. 63.09% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the stock. BidaskClub cut shares of Fulton Financial from a “buy” rating to a “hold” rating in a report on Friday. ValuEngine raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. Boenning Scattergood reaffirmed a “hold” rating on shares of Fulton Financial in a report on Wednesday, October 17th. Zacks Investment Research raised shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Friday, October 5th. Finally, Barclays raised shares of Fulton Financial from an “underweight” rating to an “overweight” rating and increased their target price for the company from $18.00 to $19.00 in a report on Wednesday, October 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $18.83.
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Fulton Financial Company Profile
Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.
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