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

Fulton Financial Co. (NASDAQ:FULT) CEO Curtis J. Myers sold 24,192 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the sale, the chief executive officer now owns 155,946 shares in the company, valued at approximately $3,299,817.36. This represents a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Fulton Financial Stock Performance

FULT opened at $20.90 on Wednesday. The firm has a market cap of $3.80 billion, a PE ratio of 13.23 and a beta of 0.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $19.51 and a 200-day simple moving average of $18.34. Fulton Financial Co. has a fifty-two week low of $13.87 and a fifty-two week high of $22.49.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. The business had revenue of $487.33 million during the quarter, compared to analyst estimates of $321.00 million. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. During the same period last year, the company posted $0.43 EPS. As a group, equities analysts predict that Fulton Financial Co. will post 1.74 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.25%. The ex-dividend date was Tuesday, October 1st. Fulton Financial’s dividend payout ratio is presently 43.04%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Stephens upgraded Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday. 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 report on Wednesday, December 4th. StockNews.com cut Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Finally, Piper Sandler set a $21.00 price target on Fulton Financial in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.50.

Institutional Investors Weigh In On Fulton Financial

Large investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Fulton Financial in the third quarter worth $33,000. Family Firm Inc. acquired a new stake in shares of Fulton Financial in the second quarter worth $46,000. Coston McIsaac & Partners acquired a new stake in shares of Fulton Financial in the third quarter worth $54,000. Blue Trust Inc. boosted its position in shares of Fulton Financial by 21.9% in the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after buying an additional 691 shares during the period. Finally, TD Private Client Wealth LLC boosted its position 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 worth $118,000 after buying an additional 676 shares during the period. 72.02% of the stock is owned by institutional investors.

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.