Fulton Financial Corp (NASDAQ:FULT) – Stock analysts at Boenning Scattergood lifted their FY2018 earnings estimates for Fulton Financial in a report issued on Wednesday, October 17th. Boenning Scattergood analyst M. Schultheis now anticipates that the bank will earn $1.21 per share for the year, up from their prior forecast of $1.15. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Fulton Financial’s Q4 2018 earnings at $0.36 EPS, Q1 2019 earnings at $0.34 EPS, Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.38 EPS, Q4 2019 earnings at $0.39 EPS and FY2019 earnings at $1.48 EPS.
Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, October 16th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.04. Fulton Financial had a net margin of 20.45% and a return on equity of 8.89%. The business had revenue of $214.23 million during the quarter, compared to the consensus estimate of $209.72 million. During the same period last year, the business posted $0.28 EPS.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Wednesday, August 1st. BidaskClub upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. ValuEngine upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Hovde Group set a $19.00 target price on shares of Fulton Financial and gave the company a “hold” rating in a research note on Monday, July 23rd. Finally, Piper Jaffray Companies upgraded shares of Fulton Financial from a “neutral” rating to an “overweight” rating and raised their target price for the company from $18.50 to $19.00 in a research note on Thursday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $18.83.
Shares of NASDAQ:FULT opened at $16.49 on Friday. Fulton Financial has a 52-week low of $15.05 and a 52-week high of $19.55. The stock has a market capitalization of $2.93 billion, a P/E ratio of 15.41, a PEG ratio of 1.76 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.98 and a quick ratio of 0.97.
A number of hedge funds have recently modified their holdings of FULT. Sei Investments Co. lifted its position in Fulton Financial by 207.5% during the first quarter. Sei Investments Co. now owns 177,695 shares of the bank’s stock worth $3,155,000 after acquiring an additional 119,908 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in Fulton Financial by 56.4% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 35,867 shares of the bank’s stock worth $637,000 after acquiring an additional 12,932 shares during the last quarter. UBS Group AG lifted its position in Fulton Financial by 674.8% during the first quarter. UBS Group AG now owns 54,899 shares of the bank’s stock worth $975,000 after acquiring an additional 47,813 shares during the last quarter. A.R.T. Advisors LLC acquired a new stake in Fulton Financial during the first quarter worth approximately $331,000. Finally, Xact Kapitalforvaltning AB lifted its position in Fulton Financial by 43.4% during the first quarter. Xact Kapitalforvaltning AB now owns 25,113 shares of the bank’s stock worth $446,000 after acquiring an additional 7,600 shares during the last quarter. Hedge funds and other institutional investors own 62.82% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 28th. This represents a $0.48 annualized dividend and a yield of 2.91%. Fulton Financial’s dividend payout ratio (DPR) is presently 44.86%.
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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