Wall Street analysts expect Fulton Financial Corp (NASDAQ:FULT) to announce $0.34 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Fulton Financial’s earnings, with the highest EPS estimate coming in at $0.36 and the lowest estimate coming in at $0.32. Fulton Financial reported earnings per share of $0.28 during the same quarter last year, which would indicate a positive year over year growth rate of 21.4%. The company is expected to issue its next quarterly earnings report on Monday, January 28th.
According to Zacks, analysts expect that Fulton Financial will report full year earnings of $1.15 per share for the current fiscal year, with EPS estimates ranging from $1.13 to $1.18. For the next financial year, analysts expect that the company will post earnings of $1.37 per share, with EPS estimates ranging from $1.34 to $1.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Fulton Financial.
Fulton Financial (NASDAQ:FULT) last released its quarterly 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. The business had revenue of $214.23 million during the quarter, compared to the consensus estimate of $209.72 million. Fulton Financial had a return on equity of 8.20% and a net margin of 19.05%. During the same period in the previous year, the company posted $0.28 EPS.
Several research firms recently issued reports on FULT. Zacks Investment Research upgraded Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Wednesday, August 29th. Hovde Group set a $19.00 target price on Fulton Financial and gave the company a “hold” rating in a research report on Monday, July 23rd. BidaskClub upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. Finally, ValuEngine upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $18.57.
Institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its holdings in shares of Fulton Financial by 7.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,307,156 shares of the bank’s stock worth $21,569,000 after buying an additional 94,626 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Fulton Financial by 11.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 112,818 shares of the bank’s stock worth $1,862,000 after purchasing an additional 11,229 shares in the last quarter. First Trust Advisors LP increased its holdings in Fulton Financial by 36.2% in the 2nd quarter. First Trust Advisors LP now owns 468,865 shares of the bank’s stock worth $7,736,000 after purchasing an additional 124,551 shares in the last quarter. Fulton Bank N.A. increased its holdings 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 worth $32,801,000 after purchasing an additional 66,304 shares in the last quarter. Finally, Strs Ohio increased its holdings in Fulton Financial by 10.1% in the 2nd quarter. Strs Ohio now owns 89,100 shares of the bank’s stock worth $1,470,000 after purchasing an additional 8,200 shares in the last quarter. 62.71% of the stock is owned by institutional investors.
FULT traded down $0.30 during trading on Thursday, hitting $16.66. The stock had a trading volume of 100,518 shares, compared to its average volume of 901,645. The company has a market capitalization of $2.93 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 1.81 and a beta of 1.05. Fulton Financial has a one year low of $15.05 and a one year high of $19.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.97 and a quick ratio of 0.97.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.88%. Fulton Financial’s dividend payout ratio (DPR) is currently 44.86%.
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.
Read More: Do You Need a Fiduciary?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fulton Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fulton Financial and related companies with MarketBeat.com's FREE daily email newsletter.