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 firm’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $21.42, for a total value of $107,100.00. Following the completion of the transaction, the director directly owned 80,477 shares of the company’s stock, valued at $1,723,817.34. The trade was a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Fulton Financial Stock Performance

NASDAQ FULT opened at $21.72 on Wednesday. Fulton Financial Corporation has a 1-year low of $15.52 and a 1-year high of $22.99. The company has a market capitalization of $3.91 billion, a P/E ratio of 10.44 and a beta of 0.81. The business has a 50 day moving average price of $20.92 and a 200 day moving average price of $19.60. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.90 and a quick ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. Fulton Financial had a return on equity of 12.78% and a net margin of 20.68%.The firm had revenue of $336.02 million during the quarter, compared to the consensus estimate of $336.80 million. During the same period last year, the business posted $0.48 EPS. Sell-side analysts expect that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial declared that its board has authorized a stock repurchase plan on Tuesday, December 16th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the bank to purchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, April 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 36.54%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FULT shares. DA Davidson started coverage on Fulton Financial in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 price objective for the company. Weiss Ratings raised Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 27th. Finally, Wall Street Zen downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Fulton Financial has a consensus rating of “Hold” and an average target price of $21.50.

Institutional Investors Weigh In On Fulton Financial

Large investors have recently bought and sold shares of the stock. Nordea Investment Management AB grew its holdings in Fulton Financial by 25.2% during the 4th quarter. Nordea Investment Management AB now owns 737,737 shares of the bank’s stock valued at $14,327,000 after buying an additional 148,399 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Fulton Financial by 46.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 603,553 shares of the bank’s stock valued at $11,244,000 after buying an additional 191,764 shares during the last quarter. Econ Financial Services Corp acquired a new stake in Fulton Financial during the 4th quarter valued at $2,018,000. Fisher Asset Management LLC grew its holdings in Fulton Financial by 6.4% during the 3rd quarter. Fisher Asset Management LLC now owns 3,363,509 shares of the bank’s stock valued at $62,662,000 after buying an additional 203,708 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Fulton Financial during the 2nd quarter valued at $647,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

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.