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Wall Street analysts expect Fulton Financial Co. (NASDAQ:FULT – Get Rating) to report earnings of $0.36 per share for the current quarter, according to Zacks. Three analysts provided earnings estimates for Fulton Financial. The lowest EPS estimate is $0.34 and the highest is $0.39. Fulton Financial reported earnings of $0.38 per share in the same quarter last year, indicating a negative 5.3% year-over-year growth rate. The company is due to announce its next quarterly earnings report on Monday, January 1.
On average, analysts expect Fulton Financial to report annual earnings of $1.55 per share for the current fiscal year, with EPS estimates ranging from $1.47 to $1.62. For the next fiscal year, analysts expect the company to post earnings of $1.71 per share, with EPS estimates ranging from $1.53 to $1.85. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts who track Fulton Financial.
Fulton Financial (NASDAQ:FULT – Get Rating) last released its quarterly results on Tuesday, April 19. The bank reported EPS of $0.38 for the quarter, beating consensus analyst estimates of $0.32 by $0.06. Fulton Financial had a return on equity of 10.57% and a net margin of 28.22%. During the same period last year, the company posted earnings per share of $0.43.
FULT has been the subject of several research analyst reports. Zacks Investment Research downgraded Fulton Financial from a “buy” rating to a “hold” rating in a research report on Monday. Stephens upgraded Fulton Financial from an “equal weight” rating to an “overweight” rating and set a target price of $20.50 for the company in a Thursday, April 21 research report. DA Davidson raised his target price on Fulton Financial from $16.00 to $20.00 in a Thursday, January 20 research report. Finally, StockNews.com assumed coverage from Fulton Financial in a Thursday, March 31 report. They issued a “holding” rating for the company.
In other news from Fulton Financial, Executive Vice President Angela M. Sargent sold 10,823 shares of the company in a trade dated Friday, March 4. The stock was sold at an average price of $17.20, for a total value of $186,155.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders of the company hold 1.01% of the shares of the company.
A number of hedge funds and other institutional investors have recently changed their holdings in the company. Hazlett Burt & Watson Inc. bought a new position in Fulton Financial in Q1 worth approximately $1,040,000. New York State Common Retirement Fund increased its stake in Fulton Financial by 1.2% in the 1st quarter. The New York State Common Retirement Fund now owns 503,642 shares of the bank worth $8,371,000 after purchasing an additional 5,908 shares during the period. Russell Investments Group Ltd. increased its stake in Fulton Financial by 32.2% in the 1st quarter. Russell Investments Group Ltd. now owns 17,141 shares of the bank worth $284,000 after purchasing an additional 4,172 shares during the period. SummerHaven Investment Management LLC increased its stake in Fulton Financial by 5.1% in Q1. SummerHaven Investment Management LLC now owns 55,186 shares of the bank worth $917,000 after purchasing an additional 2,654 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Fulton Financial by 150.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,153,279 shares of the bank worth $17,495,000 after purchasing an additional 692,757 shares during the period. Institutional investors and hedge funds hold 64.05% of the company’s shares.
Shares of Fulton Financial opened at $15.60 on Tuesday. Fulton Financial has a 1-year low of $14.16 and a 1-year high of $19.17. The company has a market capitalization of $2.50 billion, a PE ratio of 9.87 and a beta of 0.74. The stock has a fifty-day moving average price of $16.69 and a 200-day moving average price of $17.07. The company has a debt ratio of 0.22, a current ratio of 0.89 and a quick ratio of 0.89.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 18. Investors of record on Friday, April 1 received a dividend of $0.15. The ex-dividend date was Thursday, March 31. This represents an annualized dividend of $0.60 and a yield of 3.85%. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.14. Fulton Financial’s dividend payout ratio (DPR) is 37.97%.
Fulton Financial Company Profile (Get a rating)
Fulton Financial Corporation operates as a financial holding company that provides personal and business banking products and services. It accepts various checking accounts and savings deposit products, certificates of deposit and individual retirement accounts. The Company also offers secured consumer loans, including home equity loans and lines of credit, auto loans, personal lines of credit and current account overdraft protection; giant construction and residential mortgages; and commercial lending products including commercial, commercial and industrial real estate loans and construction loans, as well as equipment lease financing loans.
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