Fulton Financial Co. (NASDAQ:FULT) President Angela M. Snyder Sells 13,322 Shares

Fulton Financial Co. (NASDAQ:FULT) President Angela M. Snyder sold 13,322 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the transaction, the president now owns 63,682 shares in the company, valued at approximately $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Fulton Financial Price Performance

Shares of FULT stock opened at $20.58 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. Fulton Financial Co. has a 12 month low of $13.87 and a 12 month high of $22.49. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 13.11 and a beta of 0.79. The stock has a 50-day moving average price of $20.45 and a 200 day moving average price of $19.20.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same quarter in the prior year, the business earned $0.42 earnings per share. Research analysts expect that Fulton Financial Co. will post 1.79 EPS for the current year.

Fulton Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.50%. This is an increase from Fulton Financial’s previous quarterly dividend of $0.17. Fulton Financial’s dividend payout ratio is 45.86%.

Hedge Funds Weigh In On Fulton Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AE Wealth Management LLC bought a new stake in Fulton Financial in the second quarter valued at approximately $172,000. Xponance Inc. acquired a new position in shares of Fulton Financial in the 2nd quarter valued at $193,000. Squarepoint Ops LLC bought a new stake in shares of Fulton Financial in the 2nd quarter valued at $1,144,000. AQR Capital Management LLC raised its stake in Fulton Financial by 18.1% during the 2nd quarter. AQR Capital Management LLC now owns 34,678 shares of the bank’s stock worth $584,000 after buying an additional 5,314 shares during the period. Finally, Millennium Management LLC lifted its holdings in Fulton Financial by 511.1% during the second quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock worth $55,287,000 after acquiring an additional 2,723,170 shares in the last quarter. Institutional investors own 72.02% of the company’s stock.

Wall Street Analysts Forecast Growth

FULT has been the topic of several recent analyst reports. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 23rd. Hovde Group increased their target price on Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a report on Monday. DA Davidson lifted their price target on Fulton Financial from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Friday. Stephens raised shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, January 23rd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.64.

About Fulton Financial

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.