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

Fulton Financial Corporation (NASDAQ:FULT) Director E Philip Wenger sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $21.42, for a total value of $107,100.00. Following the completion of the transaction, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Fulton Financial Stock Performance

NASDAQ FULT opened at $21.72 on Wednesday. The company has a market cap of $3.91 billion, a PE ratio of 10.44 and a beta of 0.81. The stock’s 50 day simple moving average is $20.92 and its 200-day simple moving average is $19.60. Fulton Financial Corporation has a 1-year low of $15.52 and a 1-year high of $22.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.90 and a quick ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Wednesday, January 21st. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The business had revenue of $336.02 million for the quarter, compared to the consensus estimate of $336.80 million. Fulton Financial had a return on equity of 12.78% and a net margin of 20.68%.During the same quarter last year, the business posted $0.48 earnings per share. As a group, equities research analysts anticipate that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, April 1st. Fulton Financial’s dividend payout ratio (DPR) is 36.54%.

Fulton Financial declared that its board has authorized a stock repurchase plan on Tuesday, December 16th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Fulton Financial

Institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new position in Fulton Financial during the fourth quarter worth approximately $25,000. Eurizon Capital SGR S.p.A. purchased a new position in Fulton Financial during the fourth quarter worth approximately $27,000. Torren Management LLC purchased a new position in Fulton Financial during the fourth quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new position in Fulton Financial during the fourth quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Fulton Financial during the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FULT shares. Weiss Ratings upgraded Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. Wall Street Zen downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, DA Davidson started coverage on Fulton Financial in a research report on Wednesday, February 25th. They set a “neutral” rating and a $24.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.50.

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.