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 the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $21.16, for a total value of $511,902.72. Following the sale, the chief executive officer now owns 155,946 shares of the company’s stock, valued at approximately $3,299,817.36. This represents a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Fulton Financial Stock Down 0.4 %

FULT stock opened at $20.90 on Wednesday. Fulton Financial Co. has a twelve month low of $13.87 and a twelve month high of $22.49. The company has a market cap of $3.80 billion, a PE ratio of 13.23 and a beta of 0.77. The business’s 50-day simple moving average is $19.51 and its 200 day simple moving average is $18.34. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. The business had revenue of $487.33 million for the quarter, compared to the consensus estimate of $321.00 million. During the same period last year, the business earned $0.43 earnings per share. On average, research analysts anticipate that Fulton Financial Co. will post 1.74 earnings per share for the current year.

Fulton Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on FULT. Piper Sandler set a $21.00 target price on Fulton Financial in a report 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. Stephens upgraded Fulton Financial from an “equal weight” rating to an “overweight” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods lifted their price objective on Fulton Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Fulton Financial currently has an average rating of “Hold” and an average target price of $19.50.

Institutional Investors Weigh In On Fulton Financial

A number of institutional investors have recently added to or reduced their stakes in FULT. Millennium Management LLC boosted its holdings in Fulton Financial by 511.1% during the second quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock valued at $55,287,000 after purchasing an additional 2,723,170 shares in the last quarter. Emerald Advisers LLC boosted its holdings in Fulton Financial by 213.6% during the third quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank’s stock valued at $23,706,000 after purchasing an additional 890,630 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in Fulton Financial by 272.2% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank’s stock valued at $15,622,000 after purchasing an additional 630,152 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Fulton Financial by 710.0% during the second quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank’s stock valued at $11,880,000 after purchasing an additional 613,272 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Fulton Financial by 28.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank’s stock worth $43,164,000 after acquiring an additional 567,771 shares in the last quarter. 72.02% of the stock is 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.