Jefferies Group Comments on Fulton Financial Corporation’s Q1 2018 Earnings (FULT)

Fulton Financial Corporation (NASDAQ:FULT) – Equities researchers at Jefferies Group issued their Q1 2018 earnings per share estimates for Fulton Financial in a research note issued on Tuesday. Jefferies Group analyst C. Haire forecasts that the bank will post earnings per share of $0.28 for the quarter. Jefferies Group also issued estimates for Fulton Financial’s Q2 2018 earnings at $0.30 EPS, Q3 2018 earnings at $0.33 EPS and Q4 2018 earnings at $0.34 EPS.

FULT has been the subject of several other research reports. BidaskClub lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 9th. Piper Jaffray Companies reiterated a “hold” rating and issued a $18.00 price objective on shares of Fulton Financial in a research note on Thursday, October 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $17.00 price objective on shares of Fulton Financial in a research note on Thursday, October 19th. Zacks Investment Research upgraded shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Wednesday, September 20th. Finally, Barclays lifted their price objective on shares of Fulton Financial from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.80.

Fulton Financial (FULT) opened at $18.80 on Friday. The stock has a market cap of $3,290.00, a P/E ratio of 18.43 and a beta of 1.17. Fulton Financial has a 1 year low of $16.45 and a 1 year high of $19.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.98.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, October 17th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. The firm had revenue of $194.19 million for the quarter, compared to the consensus estimate of $200.00 million. Fulton Financial had a net margin of 21.15% and a return on equity of 8.28%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 EPS.

A number of hedge funds have recently made changes to their positions in FULT. Schwab Charles Investment Management Inc. increased its stake in Fulton Financial by 2.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,043,076 shares of the bank’s stock valued at $19,819,000 after purchasing an additional 21,178 shares in the last quarter. Legal & General Group Plc increased its stake in Fulton Financial by 9.6% during the 2nd quarter. Legal & General Group Plc now owns 214,297 shares of the bank’s stock valued at $4,073,000 after purchasing an additional 18,788 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in Fulton Financial during the 2nd quarter valued at $432,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Fulton Financial by 7.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,721 shares of the bank’s stock valued at $147,000 after purchasing an additional 519 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Fulton Financial by 0.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 15,522 shares of the bank’s stock valued at $295,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, December 29th. This represents a $0.44 dividend on an annualized basis and a yield of 2.34%. Fulton Financial’s dividend payout ratio (DPR) is presently 43.14%.

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About Fulton Financial

Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).

Earnings History and Estimates for Fulton Financial (NASDAQ:FULT)

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