Fulton Financial (NASDAQ:FULT) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Fulton Financial Corporation (NASDAQ:FULT) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.51 and traded as high as $22.21. Fulton Financial shares last traded at $21.95, with a volume of 1,411,193 shares.

Analysts Set New Price Targets

Several brokerages recently issued reports on FULT. DA Davidson began coverage on Fulton Financial in a report on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 price target for the company. Raymond James Financial reiterated an “outperform” rating and issued a $24.00 price target on shares of Fulton Financial in a report on Monday, April 27th. Wall Street Zen downgraded Fulton Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Finally, Weiss Ratings upgraded Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Fulton Financial presently has a consensus rating of “Hold” and an average target price of $23.00.

Fulton Financial Trading Up 0.1%

The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 10.45 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a fifty day moving average of $21.31 and a 200-day moving average of $20.51.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. The company had revenue of $331.86 million during the quarter, compared to the consensus estimate of $359.36 million. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.During the same period last year, the firm earned $0.52 earnings per share. As a group, equities analysts predict that Fulton Financial Corporation will post 2.17 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, April 1st. This represents a $0.76 annualized dividend and a dividend yield of 3.5%. Fulton Financial’s dividend payout ratio (DPR) is currently 36.19%.

Insider Buying and Selling at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $21.42, for a total transaction of $107,100.00. Following the completion of the sale, the director directly owned 80,477 shares in the company, valued at $1,723,817.34. This trade represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.01% of the stock is owned by corporate insiders.

Institutional Trading of Fulton Financial

Large investors have recently modified their holdings of the business. Root Financial Partners LLC grew its stake in shares of Fulton Financial by 89.9% during the first quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after acquiring an additional 607 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Fulton Financial during the fourth quarter valued at about $25,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Fulton Financial during the fourth quarter valued at about $27,000. Axiom Investment Management LLC acquired a new stake in shares of Fulton Financial during the first quarter valued at about $28,000. Finally, Torren Management LLC acquired a new stake in shares of Fulton Financial during the fourth quarter valued at about $28,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.