Fulton Financial Co. (NASDAQ:FULT) CEO Curtis J. Myers Sells 24,192 Shares

Fulton Financial Co. (NASDAQ:FULT) CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $21.16, for a total value of $511,902.72. Following the transaction, the chief executive officer now owns 155,946 shares of the company’s stock, valued at $3,299,817.36. The trade was a 13.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Fulton Financial Trading Down 1.2 %

FULT stock opened at $20.98 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. Fulton Financial Co. has a 12-month low of $13.87 and a 12-month high of $22.49. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 13.28 and a beta of 0.77. The business’s 50-day moving average is $19.44 and its 200 day moving average is $18.31.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. The company had revenue of $487.33 million for the quarter, compared to analysts’ expectations of $321.00 million. During the same period in the previous year, the firm posted $0.43 EPS. On average, sell-side analysts anticipate that Fulton Financial Co. will post 1.74 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.24%. The ex-dividend date was Tuesday, October 1st. Fulton Financial’s payout ratio is 43.04%.

Analyst Upgrades and Downgrades

FULT has been the subject of several recent analyst reports. Piper Sandler set a $21.00 price target on Fulton Financial in a research note on Thursday, October 17th. StockNews.com lowered Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods lifted their price target on Fulton Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Stephens upgraded Fulton Financial from an “equal weight” rating to an “overweight” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Fulton Financial during the 3rd quarter worth approximately $33,000. Family Firm Inc. acquired a new position in shares of Fulton Financial during the 2nd quarter worth approximately $46,000. Coston McIsaac & Partners acquired a new position in shares of Fulton Financial during the 3rd quarter worth approximately $54,000. Blue Trust Inc. boosted its holdings in shares of Fulton Financial by 21.9% during the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after purchasing an additional 691 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in shares of Fulton Financial by 11.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock worth $118,000 after purchasing an additional 676 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

About Fulton Financial

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.