Analysts predict that Fulton Financial Corp (NASDAQ:FULT) will announce sales of $214.12 million for the current quarter, according to Zacks. Five analysts have made estimates for Fulton Financial’s earnings, with the highest sales estimate coming in at $215.55 million and the lowest estimate coming in at $212.50 million. Fulton Financial reported sales of $206.37 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.8%. The firm is scheduled to report its next quarterly earnings report on Monday, January 28th.
According to Zacks, analysts expect that Fulton Financial will report full year sales of $833.23 million for the current year, with estimates ranging from $822.60 million to $840.48 million. For the next year, analysts forecast that the business will report sales of $877.04 million, with estimates ranging from $864.30 million to $886.48 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Fulton Financial.
Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, October 16th. The bank reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.04. The company had revenue of $214.23 million during the quarter, compared to the consensus estimate of $209.72 million. Fulton Financial had a net margin of 20.45% and a return on equity of 8.89%. During the same quarter in the prior year, the firm earned $0.28 EPS.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Wednesday, July 11th. ValuEngine upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. BidaskClub upgraded shares of Fulton Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 25th. Boenning Scattergood reiterated a “hold” rating on shares of Fulton Financial in a report on Wednesday. Finally, Piper Jaffray Companies upgraded shares of Fulton Financial from a “neutral” rating to an “overweight” rating and increased their price target for the company from $18.50 to $19.00 in a report on Thursday, July 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.83.
Shares of Fulton Financial stock opened at $16.49 on Friday. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.85 and a beta of 1.05. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.43. Fulton Financial has a one year low of $15.05 and a one year high of $19.55.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were issued a $0.12 dividend. The ex-dividend date was Friday, September 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.91%. Fulton Financial’s dividend payout ratio is presently 44.86%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Foundry Partners LLC grew its stake in Fulton Financial by 0.3% in the 3rd quarter. Foundry Partners LLC now owns 1,347,519 shares of the bank’s stock valued at $22,436,000 after acquiring an additional 4,223 shares during the last quarter. Toth Financial Advisory Corp grew its stake in Fulton Financial by 545.6% in the 3rd quarter. Toth Financial Advisory Corp now owns 20,175 shares of the bank’s stock valued at $336,000 after acquiring an additional 17,050 shares during the last quarter. Dalton Greiner Hartman Maher & Co. grew its stake in Fulton Financial by 6.6% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 1,279,910 shares of the bank’s stock valued at $21,311,000 after acquiring an additional 79,330 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Fulton Financial in the 3rd quarter valued at about $446,000. Finally, Fulton Bank N.A. grew its stake in Fulton Financial by 3.5% in the 3rd quarter. Fulton Bank N.A. now owns 1,970,058 shares of the bank’s stock valued at $32,801,000 after acquiring an additional 66,304 shares during the last quarter. 62.82% of the stock is currently owned by hedge funds and other institutional investors.
About Fulton Financial
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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