Insider Selling: Fulton Financial (NASDAQ:FULT) Director Sells $101,680.00 in Stock

Fulton Financial Corporation (NASDAQ:FULT) Director Lisa Crutchfield sold 4,100 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $24.80, for a total transaction of $101,680.00. Following the completion of the sale, the director directly owned 7,838 shares in the company, valued at approximately $194,382.40. The trade was a 34.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Fulton Financial Price Performance

NASDAQ:FULT traded down $0.28 during mid-day trading on Thursday, hitting $24.43. 678,691 shares of the stock traded hands, compared to its average volume of 1,985,729. The business’s 50-day moving average price is $23.64 and its 200 day moving average price is $21.95. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.67 billion, a PE ratio of 11.69 and a beta of 0.79. Fulton Financial Corporation has a 12-month low of $16.60 and a 12-month high of $25.23.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.76 annualized dividend and a dividend yield of 3.1%. Fulton Financial’s dividend payout ratio is presently 36.36%.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FULT. Raymond James Financial upped their target price on Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Piper Sandler reissued a “neutral” rating and issued a $27.00 price target (up from $23.00) on shares of Fulton Financial in a report on Monday. DA Davidson lifted their price objective on shares of Fulton Financial from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fulton Financial in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Fulton Financial currently has an average rating of “Hold” and a consensus target price of $24.75.

Fulton Financial Company Profile

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.