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

Fulton Financial Corporation (NASDAQ:FULT) Director E. Wenger sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $23.69, for a total value of $118,450.00. Following the completion of the sale, the director directly owned 70,477 shares in the company, valued at approximately $1,669,600.13. This represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Fulton Financial Price Performance

Fulton Financial stock opened at $24.00 on Thursday. Fulton Financial Corporation has a twelve month low of $16.91 and a twelve month high of $25.23. The company has a market capitalization of $4.54 billion, a P/E ratio of 11.16 and a beta of 0.78. The stock’s 50 day moving average is $23.18 and its 200 day moving average is $22.49.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Wednesday, October 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.07. The business had revenue of $367.26 million during the quarter, compared to analysts’ expectations of $366.71 million. Fulton Financial had a return on equity of 12.97% and a net margin of 21.07%. During the same quarter in the previous year, the business earned $0.55 earnings per share. As a group, equities analysts expect that Fulton Financial Corporation will post 2.27 EPS for the current year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Thursday, October 1st. Fulton Financial’s dividend payout ratio is currently 35.35%.

Institutional Trading of Fulton Financial

Several institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its stake in shares of Fulton Financial by 2.6% in the first quarter. Cetera Investment Advisers now owns 21,829 shares of the bank’s stock worth $444,000 after purchasing an additional 557 shares during the last quarter. State of Wyoming lifted its holdings in shares of Fulton Financial by 13.4% during the first quarter. State of Wyoming now owns 4,829 shares of the bank’s stock valued at $98,000 after purchasing an additional 570 shares in the last quarter. iSAM Funds UK Ltd boosted its position in shares of Fulton Financial by 1.8% during the second quarter. iSAM Funds UK Ltd now owns 33,600 shares of the bank’s stock valued at $813,000 after buying an additional 593 shares during the last quarter. Keybank National Association OH boosted its position in shares of Fulton Financial by 1.7% during the third quarter. Keybank National Association OH now owns 38,635 shares of the bank’s stock valued at $872,000 after buying an additional 629 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Fulton Financial by 12.3% during the third quarter. GAMMA Investing LLC now owns 6,107 shares of the bank’s stock valued at $138,000 after buying an additional 667 shares during the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fulton Financial in a research note on Tuesday, October 27th. Piper Sandler restated a “neutral” rating and set a $27.00 price objective (up from $23.00) on shares of Fulton Financial in a research note on Monday, August 3rd. Stephens restated an “overweight” rating and set a $25.00 price objective (down from $26.00) on shares of Fulton Financial in a research note on Tuesday, October 27th. Finally, Raymond James Financial cut shares of Fulton Financial from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.80.

Fulton Financial Company Profile

Fulton Financial Corporation is a bank holding company headquartered in Lancaster, Pennsylvania. Its principal subsidiary, Fulton Bank, provides banking and financial services to individuals, businesses and nonprofit organizations. The company offers consumer and commercial deposit accounts, loans and other credit products, as well as mortgage, wealth management and related financial services. Its roots in banking date to the founding of Fulton National Bank in Lancaster in 1882. Fulton serves communities across the Mid-Atlantic, including Pennsylvania, Delaware, Maryland, New Jersey and Virginia.