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

Fulton Financial Corporation (NASDAQ:FULT) Director E. Wenger sold 5,000 shares of the company’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $23.69, for a total transaction of $118,450.00. Following the transaction, the director owned 70,477 shares in the company, valued at approximately $1,669,600.13. The trade was a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Fulton Financial Trading Down 0.5%

Shares of NASDAQ FULT opened at $24.00 on Wednesday. The firm has a market capitalization of $4.58 billion, a PE ratio of 11.16 and a beta of 0.78. Fulton Financial Corporation has a 1 year low of $16.91 and a 1 year high of $25.23. The firm’s 50-day moving average is $23.16 and its 200-day moving average is $22.48.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Wednesday, October 21st. The bank reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.07. Fulton Financial had a net margin of 21.07% and a return on equity of 12.97%. The business had revenue of $367.26 million during the quarter, compared to the consensus estimate of $366.71 million. During the same period in the previous year, the firm posted $0.55 earnings per share. As a group, equities research analysts anticipate that Fulton Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

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

Wall Street Analyst Weigh In

FULT has been the subject of several recent research reports. Raymond James Financial cut shares of Fulton Financial from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 6th. Piper Sandler restated a “neutral” rating and issued a $27.00 price target (up from $23.00) on shares of Fulton Financial in a research report on Monday, August 3rd. Wall Street Zen raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fulton Financial in a research note on Tuesday, October 27th. Finally, DA Davidson upped their price objective on Fulton Financial from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $24.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FULT. Private Advisor Group LLC grew its holdings in Fulton Financial by 4.3% during the third quarter. Private Advisor Group LLC now owns 38,708 shares of the bank’s stock valued at $873,000 after purchasing an additional 1,588 shares during the period. Meeder Asset Management Inc. raised its holdings in Fulton Financial by 233.8% in the third quarter. Meeder Asset Management Inc. now owns 1,966 shares of the bank’s stock worth $44,000 after purchasing an additional 1,377 shares during the period. Voya Investment Management LLC raised its holdings in Fulton Financial by 8.6% in the third quarter. Voya Investment Management LLC now owns 328,776 shares of the bank’s stock worth $7,417,000 after purchasing an additional 26,028 shares during the period. Edgestream Partners L.P. bought a new position in shares of Fulton Financial during the third quarter worth $347,000. Finally, Bessemer Group Inc. boosted its position in shares of Fulton Financial by 347.3% during the third quarter. Bessemer Group Inc. now owns 1,205,319 shares of the bank’s stock worth $27,191,000 after purchasing an additional 935,876 shares in the last quarter. Institutional investors own 72.02% of the company’s stock.

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.