Fulton Financial Co. (NASDAQ:FULT) President Sells $275,632.18 in Stock

Fulton Financial Co. (NASDAQ:FULT) President Angela M. Snyder sold 13,322 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares of the company’s stock, valued at $1,317,580.58. The trade was a 17.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Fulton Financial Stock Up 0.2 %

Shares of NASDAQ:FULT opened at $20.48 on Thursday. The company has a 50 day moving average price of $20.44 and a two-hundred day moving average price of $19.23. The company has a market capitalization of $3.73 billion, a PE ratio of 13.04 and a beta of 0.79. Fulton Financial Co. has a 52 week low of $13.87 and a 52 week high of $22.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period in the previous year, the business earned $0.42 earnings per share. Analysts forecast that Fulton Financial Co. will post 1.79 earnings per share for the current year.

Fulton Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.18 per share. This is an increase from Fulton Financial’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Tuesday, December 31st. Fulton Financial’s dividend payout ratio (DPR) is 45.86%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. AE Wealth Management LLC acquired a new position in Fulton Financial in the 2nd quarter worth $172,000. Xponance Inc. acquired a new position in shares of Fulton Financial during the second quarter worth about $193,000. Squarepoint Ops LLC bought a new position in shares of Fulton Financial during the second quarter worth about $1,144,000. AQR Capital Management LLC raised its position in Fulton Financial by 18.1% in the 2nd quarter. AQR Capital Management LLC now owns 34,678 shares of the bank’s stock valued at $584,000 after buying an additional 5,314 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Fulton Financial by 511.1% in the 2nd quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock valued at $55,287,000 after acquiring an additional 2,723,170 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Analysts Set New Price Targets

FULT has been the subject of several research analyst reports. Hovde Group boosted their price objective on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research report on Monday. DA Davidson upped their price target on Fulton Financial from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Piper Sandler set a $21.00 price objective on Fulton Financial in a research report on Thursday, October 17th. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Finally, StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.64.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.