Key Points
- Director E Philip Wenger sold 5,000 shares of Fulton Financial at an average price of $24.14, trimming his ownership by 6.21% and generating about $120,700 in proceeds.
- Fulton Financial posted solid recent results, with Q1 EPS of $0.55 beating estimates, while analysts now expect full-year EPS of 2.18. The stock was trading near its 52-week high at $24.21.
- The company continues to pay a dividend of $0.19 per quarter, or $0.76 annually, which works out to a yield of about 3.1%. Meanwhile, analysts are mixed overall, with a consensus rating of Hold and an average target price of $23.50.
Fulton Financial Corporation (NASDAQ:FULT - Get Free Report) Director E Philip Wenger sold 5,000 shares of the firm's stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $24.14, for a total transaction of $120,700.00. Following the transaction, the director directly owned 75,477 shares in the company, valued at $1,822,014.78. The trade was a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Fulton Financial Trading Up 0.2%
Shares of FULT stock opened at $24.21 on Wednesday. Fulton Financial Corporation has a 52-week low of $16.60 and a 52-week 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 company has a 50-day simple moving average of $22.57 and a two-hundred day simple moving average of $21.41. The company 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 - Get Free Report) last released its earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. The company had revenue of $331.86 million during the quarter, compared to analyst estimates of $359.36 million. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.During the same period in the prior year, the company posted $0.52 earnings per share. Research analysts anticipate that Fulton Financial Corporation will post 2.18 EPS for the current fiscal year.
Fulton Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, July 1st. Fulton Financial's dividend payout ratio is 36.19%.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. Raymond James Financial increased their price target on shares of Fulton Financial from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. Weiss Ratings raised shares of Fulton Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 1st. 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. Finally, Wall Street Zen downgraded shares of Fulton Financial from a "hold" rating to a "sell" rating in a research report on Sunday, May 3rd. Two 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, the stock has an average rating of "Hold" and an average target price of $23.50.
Get Our Latest Stock Report on FULT
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in FULT. Keybank National Association OH grew its position in Fulton Financial by 1.5% during the 1st quarter. Keybank National Association OH now owns 32,887 shares of the bank's stock worth $669,000 after purchasing an additional 485 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Fulton Financial by 2.6% during the first quarter. Cetera Investment Advisers now owns 21,829 shares of the bank's stock worth $444,000 after buying an additional 557 shares during the period. State of Wyoming grew its holdings in shares of Fulton Financial by 13.4% during the first quarter. State of Wyoming now owns 4,829 shares of the bank's stock valued at $98,000 after buying an additional 570 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Fulton Financial by 2.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 23,924 shares of the bank's stock valued at $467,000 after acquiring an additional 580 shares during the period. Finally, Root Financial Partners LLC increased its position in shares of Fulton Financial by 89.9% in the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank's stock valued at $26,000 after acquiring an additional 607 shares during the period. Institutional investors own 72.02% of the company's stock.
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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