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 Fulton Financial stock in a transaction on Monday, July 13th. The shares were sold at an average price of $24.14, for a total value of $120,700.00. Following the completion of the transaction, the director owned 75,477 shares in the company, valued at $1,822,014.78. This represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Fulton Financial Stock Up 0.2%

FULT traded up $0.04 on Tuesday, hitting $24.21. The company had a trading volume of 1,572,907 shares, compared to its average volume of 1,999,573. The stock has a fifty day moving average price of $22.52 and a 200-day moving average price of $21.38. Fulton Financial Corporation has a 12-month low of $16.60 and a 12-month high of $24.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 11.53 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. Fulton Financial had a net margin of 20.85% and a return on equity of 12.69%. The business had revenue of $331.86 million during the quarter, compared to analyst estimates of $359.36 million. During the same period in the prior year, the firm posted $0.52 earnings per share. Analysts predict that Fulton Financial Corporation will post 2.18 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Wednesday, July 1st. Fulton Financial’s payout ratio is 36.19%.

Hedge Funds Weigh In On Fulton Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC boosted its stake in 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 in the last quarter. Kestra Advisory Services LLC acquired a new position in Fulton Financial during the 4th quarter valued at approximately $25,000. Eurizon Capital SGR S.p.A. acquired a new position in Fulton Financial during the 4th quarter valued at approximately $27,000. Axiom Investment Management LLC purchased a new position in shares of Fulton Financial in the first quarter worth $28,000. Finally, Torren Management LLC purchased a new position in shares of Fulton Financial in the fourth quarter worth $28,000. 72.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Piper Sandler set a $23.00 target price on shares of Fulton Financial and gave the company a “neutral” rating in a research note on Friday, June 12th. Raymond James Financial upped their price target on Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings upgraded Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Finally, Wall Street Zen cut Fulton Financial from a “hold” rating to a “sell” rating in a research report on Sunday, May 3rd. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Fulton Financial currently has a consensus rating of “Hold” and an average target price of $23.50.

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.