Fulton Financial (NASDAQ:FULT) Shares Pass Above 200-Day Moving Average – Time to Sell?

Shares of Fulton Financial Corporation (NASDAQ:FULT) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $22.42 and traded as high as $23.60. Fulton Financial shares last traded at $23.60, with a volume of 1,056,956 shares.

Analyst Ratings Changes

Several brokerages have commented on FULT. Raymond James Financial boosted their target price on shares of Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Fulton Financial in a research note on Wednesday, July 29th. Piper Sandler reissued a “neutral” rating and set a $27.00 price objective (up from $23.00) on shares of Fulton Financial in a report on Monday, August 3rd. Wall Street Zen raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Finally, DA Davidson upped their target price on shares of Fulton Financial from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Fulton Financial has a consensus rating of “Hold” and an average target price of $24.75.

Fulton Financial Stock Performance

The firm has a market cap of $4.51 billion, a PE ratio of 11.29 and a beta of 0.78. The business has a 50-day moving average price of $24.15 and a two-hundred day moving average price of $22.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.92 and a quick ratio of 0.92.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.53 by $0.07. Fulton Financial had a net margin of 20.63% and a return on equity of 12.68%. The business had revenue of $367.87 million for the quarter, compared to analyst estimates of $358.83 million. During the same period in the previous year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. Analysts forecast that Fulton Financial Corporation will post 2.23 EPS for the current year.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a $0.19 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.76 annualized dividend and a dividend yield of 3.2%. Fulton Financial’s dividend payout ratio is currently 36.36%.

Insider Buying and Selling

In other Fulton Financial news, Director E. Wenger sold 5,000 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $24.14, for a total transaction of $120,700.00. Following the sale, the director owned 75,477 shares in the company, valued at approximately $1,822,014.78. This represents a 6.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lisa Crutchfield sold 4,100 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $24.80, for a total value of $101,680.00. Following the transaction, the director directly owned 7,838 shares of the company’s stock, valued at $194,382.40. The trade was a 34.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.01% of the company’s stock.

Institutional Trading of Fulton Financial

Several institutional investors and hedge funds have recently made changes to their positions in FULT. Root Financial Partners LLC raised its stake in Fulton Financial by 89.9% in the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after purchasing an additional 607 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Fulton Financial during the 4th quarter worth about $25,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Fulton Financial during the fourth quarter worth about $27,000. Axiom Investment Management LLC purchased a new stake in shares of Fulton Financial during the first quarter worth about $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Fulton Financial in the fourth quarter valued at approximately $28,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

About Fulton Financial

Fulton Financial Corporation (NASDAQ:FULT) is a bank holding company headquartered in Lancaster, Pennsylvania. Its primary subsidiary, Fulton Bank, provides banking and financial services to consumers, businesses and institutions.

The company offers deposit accounts, residential and commercial lending, mortgages, treasury management, cash management and other commercial banking services. Through its broader financial services platform, Fulton also provides wealth management, investment services and insurance solutions.

Fulton serves customers through branches and digital channels across Pennsylvania, Delaware, Maryland, New Jersey and Virginia.