Key Points
- Director E. Philip Wenger sold 5,000 shares on April 13 at an average price of $21.42 for $107,100, cutting his stake by 5.85% to 80,477 shares.
- Board approved a $150 million share buyback (about 4.2% of outstanding shares) and the company pays a $0.19 quarterly dividend (annualized $0.76, ~3.5% yield).
- Fulton beat Q4 EPS estimates with $0.55 (vs. $0.52), has a market cap of $3.91B and a P/E of 10.44, and analysts have an average rating of "Hold" with a $21.50 consensus price target.
Fulton Financial Corporation (NASDAQ:FULT - Get Free Report) Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction 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 sale, the director owned 80,477 shares in the company, valued at $1,723,817.34. This represents a 5.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Fulton Financial Price Performance
NASDAQ:FULT opened at $21.72 on Wednesday. Fulton Financial Corporation has a 52 week low of $15.52 and a 52 week high of $22.99. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $3.91 billion, a P/E ratio of 10.44 and a beta of 0.81. The stock's fifty day moving average is $20.92 and its two-hundred day moving average is $19.60.
Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its earnings results on Wednesday, January 21st. The bank reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. Fulton Financial had a return on equity of 12.78% and a net margin of 20.68%.The company had revenue of $336.02 million for the quarter, compared to the consensus estimate of $336.80 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. Equities analysts expect that Fulton Financial Corporation will post 1.91 EPS for the current year.
Fulton Financial announced that its board has approved a share buyback plan on Tuesday, December 16th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the bank to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.
Fulton Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.19 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $0.76 dividend on an annualized basis and a yield of 3.5%. Fulton Financial's payout ratio is currently 36.54%.
Institutional Investors Weigh In On Fulton Financial
A number of institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in shares of Fulton Financial by 2.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 23,924 shares of the bank's stock valued at $467,000 after buying an additional 580 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Fulton Financial by 16.8% in the fourth quarter. GAMMA Investing LLC now owns 4,262 shares of the bank's stock valued at $82,000 after buying an additional 613 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Fulton Financial by 1.2% in the third quarter. Arizona State Retirement System now owns 53,768 shares of the bank's stock valued at $1,002,000 after buying an additional 623 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Fulton Financial by 48.0% in the third quarter. Jones Financial Companies Lllp now owns 1,995 shares of the bank's stock valued at $38,000 after buying an additional 647 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Fulton Financial by 1.3% in the third quarter. Amalgamated Bank now owns 52,371 shares of the bank's stock valued at $976,000 after buying an additional 671 shares in the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have commented 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 note on Wednesday, February 25th. They issued a "neutral" rating and a $24.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Fulton Financial has an average rating of "Hold" and a consensus price target of $21.50.
View Our Latest Stock Report on FULT
About Fulton Financial
(
Get Free Report)
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.
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