Wall Street brokerages expect that Fulton Financial Co. (NASDAQ:FULT) will announce earnings of $0.31 per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Fulton Financial’s earnings. The highest EPS estimate is $0.33 and the lowest is $0.30. Fulton Financial reported earnings of $0.26 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 19.2%. The company is scheduled to report its next earnings results on Tuesday, July 17th.
On average, analysts expect that Fulton Financial will report full-year earnings of $1.24 per share for the current financial year, with EPS estimates ranging from $1.23 to $1.25. For the next year, analysts expect that the business will post earnings of $1.35 per share, with EPS estimates ranging from $1.34 to $1.37. Zacks’ EPS calculations are an average based on a survey of analysts that follow Fulton Financial.
Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, April 17th. The bank reported $0.28 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. The company had revenue of $197.19 million during the quarter, compared to analyst estimates of $199.94 million. Fulton Financial had a return on equity of 8.71% and a net margin of 20.66%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 EPS.
Several equities analysts have recently weighed in on the company. BidaskClub upgraded Fulton Financial from a “hold” rating to a “buy” rating in a report on Thursday, March 8th. Hovde Group reiterated a “hold” rating and set a $18.00 price objective on shares of Fulton Financial in a report on Monday, April 23rd. Zacks Investment Research cut Fulton Financial from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Jefferies Group reiterated a “hold” rating and set a $19.00 price objective on shares of Fulton Financial in a report on Thursday, April 19th. Finally, DA Davidson assumed coverage on Fulton Financial in a report on Monday, March 26th. They set a “neutral” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.29.
Shares of Fulton Financial stock traded down $0.05 during trading on Wednesday, hitting $17.80. 458,200 shares of the company were exchanged, compared to its average volume of 930,660. The firm has a market capitalization of $3.12 billion, a P/E ratio of 16.64, a PEG ratio of 1.78 and a beta of 1.03. Fulton Financial has a 1-year low of $16.45 and a 1-year high of $19.90. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.42.
In other Fulton Financial news, Director George W. Hodges sold 3,825 shares of the business’s stock in a transaction that occurred on Friday, April 20th. The stock was sold at an average price of $17.05, for a total value of $65,216.25. Following the sale, the director now owns 17,662 shares in the company, valued at approximately $301,137.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David M. Campbell sold 4,660 shares of the business’s stock in a transaction that occurred on Friday, April 20th. The shares were sold at an average price of $17.08, for a total value of $79,592.80. Following the completion of the sale, the insider now owns 617 shares in the company, valued at approximately $10,538.36. The disclosure for this sale can be found here. Insiders have sold a total of 13,485 shares of company stock worth $231,309 in the last quarter. 0.84% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Glenmede Trust Co. NA lifted its stake in Fulton Financial by 3.6% in the 4th quarter. Glenmede Trust Co. NA now owns 79,528 shares of the bank’s stock valued at $1,423,000 after acquiring an additional 2,735 shares in the last quarter. Piermont Capital Management Inc. lifted its stake in Fulton Financial by 2.2% in the 1st quarter. Piermont Capital Management Inc. now owns 129,790 shares of the bank’s stock valued at $2,304,000 after acquiring an additional 2,850 shares in the last quarter. Zeke Capital Advisors LLC lifted its stake in Fulton Financial by 32.2% in the 1st quarter. Zeke Capital Advisors LLC now owns 14,088 shares of the bank’s stock valued at $250,000 after acquiring an additional 3,431 shares in the last quarter. Gardner Russo & Gardner LLC lifted its stake in Fulton Financial by 2.9% in the 1st quarter. Gardner Russo & Gardner LLC now owns 120,254 shares of the bank’s stock valued at $2,135,000 after acquiring an additional 3,432 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Fulton Financial by 46.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,306 shares of the bank’s stock valued at $202,000 after acquiring an additional 3,585 shares in the last quarter. Hedge funds and other institutional investors own 62.07% of the company’s stock.
Fulton Financial Company Profile
Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.
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