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Angela M. Snyder, President of Fulton Financial Corp (NASDAQ:FULT), a $3.7 billion market cap regional bank that InvestingPro analysis suggests is currently undervalued, recently executed a significant stock sale, according to a filing with the Securities and Exchange Commission. Snyder sold 13,322 shares of Fulton Financial's common stock, with a total transaction value of approximately $275,634. The shares were sold at a weighted average price of $20.6902, with individual transaction prices ranging from $20.57 to $20.88. Following this sale, Snyder retains ownership of 63,682 shares. The transaction was carried out under a Rule 10b5-1 trading plan, which Snyder adopted in October 2024. The stock has shown impressive momentum with a 31% return over the past year and maintains a 43-year track record of consecutive dividend payments. Discover more insights about FULT and access comprehensive analysis of 1,400+ stocks with a InvestingPro subscription.
In other recent news, Fulton Financial Corporation posted strong Q4 earnings, surpassing analyst estimates. The company reported adjusted earnings per share of $0.48, exceeding the consensus estimate of $0.38, and revenue of $319.58 million, which also beat expectations of $315.74 million. Fulton's net interest margin remained robust at 3.41% in Q4, and non-interest expenses saw a sequential decline of $9.5 million to $216.6 million.
In other developments, Keefe, Bruyette & Woods (KBW) revised their financial outlook for Fulton Financial, raising the stock's price target from $23.00 to $24.00 while maintaining a Market Perform rating. This adjustment followed Fulton's Q4 performance and a positive guide for 2025, leading KBW analysts to increase their earnings estimates for 2025 and 2026.
Additionally, Fulton Financial reported $9.6 million in acquisition-related expenses in Q4 due to its purchase of Republic Bank's assets earlier in the year. This acquisition is part of Fulton's ongoing strategic and operational progress. The company's CEO, Curtis J. Myers, stated that 2024 was a record year for the company, with operating diluted earnings per share of $1.85, reflecting an 8% increase over the prior year.
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