Equity research analysts predict that Fulton Financial Co. (NASDAQ:FULT – Get a rating) will report earnings of $0.31 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts provided earnings estimates for Fulton Financial, with estimates ranging from $0.28 to $0.34. Fulton Financial reported earnings of $0.43 per share in the same quarter last year, which would indicate a negative 27.9% year-over-year growth rate. The company is expected to release its next quarterly results on Monday, January 1.
According to Zacks, analysts expect Fulton Financial to report annual earnings of $1.43 per share for the current fiscal year, with EPS estimates ranging from $1.33 to $1.50. For the next fiscal year, analysts expect the company to report earnings of $1.64 per share, with EPS estimates ranging from $1.55 to $1.80. Zacks’ earnings per share calculations are an average based on a survey of research analysts who cover Fulton Financial.
Fulton Financial (NASDAQ:FULT – Get a rating) last released its quarterly results on Tuesday, January 18. The bank reported EPS of $0.37 for the quarter, reaching the consensus estimate of $0.37. Fulton Financial had a net margin of 27.63% and a return on equity of 11.06%. The company posted revenue of $232.68 million in the quarter, compared to $225.60 million expected by analysts. In the same quarter of the previous year, the company achieved EPS of $0.30.
A number of brokerages have weighed in on FULT. DA Davidson raised its price target on Fulton Financial shares from $16.00 to $20.00 in a Thursday, January 20 research note. Zacks Investment Research downgraded shares of Fulton Financial from a “buy” rating to a “hold” rating in a research note on Tuesday.
In related news, EVP Angela M. Sargent sold 10,823 shares of the company in a trade on Friday, March 4. The shares were sold at an average price of $17.20, for a total transaction of $186,155.60. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. 1.01% of the shares are currently held by insiders.
Several large investors have recently increased or reduced their stake in the company. Norges Bank acquired a new position in shares of Fulton Financial in the fourth quarter worth $28,658,000. BlackRock Inc. increased its holdings of Fulton Financial shares by 2.3% in the fourth quarter. BlackRock Inc. now owns 20,589,089 shares of the bank valued at $350,015,000 after purchasing an additional 464,641 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Fulton Financial by 16.2% in the fourth quarter. Wells Fargo & Company MN now owns 165,464 shares of the bank valued at $2,813,000 after acquiring 23,121 additional shares last quarter. Comerica Bank increased its stake in shares of Fulton Financial by 0.8% in the fourth quarter. Comerica Bank now owns 74,585 shares of the bank valued at $1,358,000 after acquiring an additional 565 shares last quarter. Finally, NewEdge Advisors LLC acquired a new position in shares of Fulton Financial in the fourth quarter valued at approximately $171,000. Hedge funds and other institutional investors hold 62.82% of the company’s shares.
Fulton Financial shares opened Wednesday at $17.58. The company’s 50-day simple moving average is $17.98 and its 200-day simple moving average is $16.92. Fulton Financial has a fifty-two week low of $14.16 and a fifty-two week high of $19.17. The company has a market capitalization of $2.82 billion, a price-earnings ratio of 10.79 and a beta of 0.75. The company has a debt ratio of 0.25, a current ratio of 0.90 and a quick ratio of 0.90.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 18. Investors of record on Friday, April 1 will receive a dividend of $0.15 per share. This represents a dividend of $0.60 on an annualized basis and a yield of 3.41%. This is an increase from Fulton Financial’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, March 31. Fulton Financial’s payout ratio is currently 34.36%.
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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