Fulton Financial (NASDAQ:FULT) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Fulton Financial Corporation (NASDAQ:FULT)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $20.51 and traded as high as $22.21. Fulton Financial shares last traded at $21.95, with a volume of 1,411,193 shares trading hands.

Analyst Ratings Changes

FULT has been the topic of several research analyst reports. DA Davidson initiated coverage on Fulton Financial in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 price objective on the stock. Wall Street Zen downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research report on Sunday, May 3rd. Weiss Ratings raised Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $24.00 target price on shares of Fulton Financial in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.00.

Fulton Financial Stock Up 0.1%

The stock has a 50-day moving average of $21.31 and a 200-day moving average of $20.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 10.45 and a beta of 0.80.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.The firm had revenue of $331.86 million during the quarter, compared to analysts’ expectations of $359.36 million. During the same period in the prior year, the company earned $0.52 earnings per share. Sell-side analysts predict that Fulton Financial Corporation will post 2.17 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, April 1st. Fulton Financial’s dividend payout ratio (DPR) is currently 36.19%.

Insiders Place Their Bets

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $21.42, for a total transaction of $107,100.00. Following the completion of the sale, the director directly owned 80,477 shares in the company, valued at approximately $1,723,817.34. This trade represents a 5.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On Fulton Financial

Several hedge funds have recently modified their holdings of FULT. Root Financial Partners LLC raised 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 purchasing an additional 607 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Fulton Financial in the 4th quarter worth approximately $25,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Fulton Financial in the 4th quarter worth approximately $27,000. Axiom Investment Management LLC bought a new stake in shares of Fulton Financial in the 1st quarter worth approximately $28,000. Finally, Torren Management LLC bought a new stake in shares of Fulton Financial in the 4th quarter worth approximately $28,000. Institutional investors own 72.02% of the company’s stock.

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.