Fulton Financial Co. (NASDAQ:FULT) President Angela M. Snyder Sells 13,322 Shares

Fulton Financial Co. (NASDAQ:FULT) President Angela M. Snyder sold 13,322 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares of the company’s stock, valued at approximately $1,317,580.58. This represents a 17.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Fulton Financial Price Performance

Fulton Financial stock traded up $0.02 during trading hours on Monday, hitting $20.58. The stock had a trading volume of 1,574,870 shares, compared to its average volume of 1,714,061. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.93. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 13.11 and a beta of 0.79. Fulton Financial Co. has a 1-year low of $13.87 and a 1-year high of $22.49. The stock’s fifty day moving average is $20.46 and its two-hundred day moving average is $19.17.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, beating the consensus estimate 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 last year, the business earned $0.42 EPS. As a group, analysts predict that Fulton Financial Co. will post 1.79 earnings per share for the current fiscal year.

Fulton Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.18 dividend. This is an increase from Fulton Financial’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Tuesday, December 31st. Fulton Financial’s dividend payout ratio is currently 45.86%.

Institutional Trading of Fulton Financial

Several institutional investors and hedge funds have recently made changes to their positions in FULT. Quarry LP purchased a new position in shares of Fulton Financial in the 3rd quarter worth about $33,000. Coston McIsaac & Partners purchased a new position in shares of Fulton Financial in the 3rd quarter worth about $54,000. Blue Trust Inc. grew its stake in shares of Fulton Financial by 28.8% in the third quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock valued at $84,000 after buying an additional 1,106 shares in the last quarter. TD Private Client Wealth LLC grew its stake in shares of Fulton Financial by 11.6% in the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock valued at $118,000 after buying an additional 676 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Fulton Financial by 69.3% in the fourth quarter. KBC Group NV now owns 8,517 shares of the bank’s stock valued at $164,000 after buying an additional 3,487 shares in the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FULT has been the subject of several analyst reports. DA Davidson upped their price target on Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday. Hovde Group upped their price target on Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research note on Monday. Piper Sandler set a $21.00 price target on Fulton Financial in a research note on Thursday, October 17th. Keefe, Bruyette & Woods upped their price target on Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.64.

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.