Insider Selling: Fulton Financial (NASDAQ:FULT) Director Sells 5,000 Shares of Stock

Fulton Financial Corporation (NASDAQ:FULT) Director E Philip Wenger sold 5,000 shares of the company’s 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 trade represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fulton Financial Price Performance

NASDAQ:FULT traded up $0.10 during trading hours on Tuesday, reaching $21.72. The company had a trading volume of 1,513,478 shares, compared to its average volume of 2,063,445. The stock has a 50-day moving average of $20.92 and a two-hundred day moving average of $19.58. Fulton Financial Corporation has a one year low of $15.52 and a one year high of $22.99. The firm has a market capitalization of $3.91 billion, a PE ratio of 10.44 and a beta of 0.81. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.08.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Wednesday, January 21st. The bank reported $0.55 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $336.80 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. Analysts forecast that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

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

Fulton Financial announced that its board has approved a share buyback program on Tuesday, December 16th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC bought a new position in Fulton Financial in the fourth quarter valued at approximately $25,000. Eurizon Capital SGR S.p.A. bought a new position in Fulton Financial in the fourth quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new position in Fulton Financial in the fourth quarter valued at approximately $28,000. Torren Management LLC bought a new position in Fulton Financial in the fourth quarter valued at approximately $28,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Fulton Financial in the fourth quarter valued at approximately $28,000. 72.02% of the stock is currently owned by institutional investors.

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.