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

Fulton Financial Corporation (NASDAQ:FULT) – Analysts at Jefferies Group issued their Q1 2018 EPS estimates for shares of Fulton Financial Corporation in a report issued on Tuesday. Jefferies Group analyst C. Haire anticipates that the bank will post earnings of $0.27 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $20.00 price target on the stock. Jefferies Group also issued estimates for Fulton Financial Corporation’s Q2 2018 earnings at $0.28 EPS, Q3 2018 earnings at $0.31 EPS and Q4 2018 earnings at $0.31 EPS.

A number of other analysts have also recently commented on the stock. Zacks Investment Research raised shares of Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, September 20th. ValuEngine raised shares of Fulton Financial Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Stephens assumed coverage on shares of Fulton Financial Corporation in a report on Thursday, July 13th. They set an “equal weight” rating for the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $17.50 target price on shares of Fulton Financial Corporation in a report on Tuesday, October 3rd. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Fulton Financial Corporation in a report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Fulton Financial Corporation currently has an average rating of “Hold” and a consensus price target of $18.25.

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Shares of Fulton Financial Corporation (NASDAQ:FULT) traded up 0.79% during midday trading on Wednesday, hitting $19.15. 236,374 shares of the stock traded hands. The firm has a market capitalization of $3.35 billion, a PE ratio of 19.34 and a beta of 1.17. Fulton Financial Corporation has a 52 week low of $14.05 and a 52 week high of $19.90. The company’s 50-day moving average is $18.03 and its 200 day moving average is $18.12.

Fulton Financial Corporation (NASDAQ:FULT) last posted its earnings results on Tuesday, July 18th. The bank reported $0.26 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. Fulton Financial Corporation had a net margin of 20.86% and a return on equity of 8.02%. The firm had revenue of $193.93 million for the quarter, compared to analysts’ expectations of $194.02 million. During the same quarter last year, the firm earned $0.23 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.32%. Fulton Financial Corporation’s dividend payout ratio (DPR) is presently 44.44%.

In other news, Director R Scott Smith, Jr. sold 5,539 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $18.35, for a total value of $101,640.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Deporter sold 1,500 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $18.00, for a total transaction of $27,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,348 shares of company stock valued at $484,312. Corporate insiders own 0.68% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wagner Bowman Management Corp increased its stake in shares of Fulton Financial Corporation by 0.6% in the second quarter. Wagner Bowman Management Corp now owns 12,178 shares of the bank’s stock worth $231,000 after purchasing an additional 74 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Fulton Financial Corporation by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 15,522 shares of the bank’s stock worth $295,000 after purchasing an additional 77 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Fulton Financial Corporation by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,513 shares of the bank’s stock worth $485,000 after purchasing an additional 82 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Fulton Financial Corporation by 1.4% in the second quarter. Teacher Retirement System of Texas now owns 13,976 shares of the bank’s stock worth $266,000 after purchasing an additional 192 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Fulton Financial Corporation by 0.8% in the second quarter. Amalgamated Bank now owns 24,388 shares of the bank’s stock worth $463,000 after purchasing an additional 195 shares in the last quarter. 62.99% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Corporation Company Profile

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 Corporation (NASDAQ:FULT)

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