Wall Street analysts expect Fulton Financial Co. (NASDAQ:FULT – Get a rating) to announce sales of $226.30 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates of Fulton Financial’s earnings, with the lowest sales estimate of $222.10 million and the highest estimate of $229.80 million. Fulton Financial reported sales of $217.31 million in the same quarter last year, suggesting a positive year-over-year growth rate of 4.1%. The company is expected to release its next results on Monday, January 1.
On average, analysts expect Fulton Financial to report annual revenue of $930.70 million for the current fiscal year, with estimates ranging from $918.10 million to $943.00 million. of dollars. For next year, analysts expect the company to register sales of $1.03 billion, with estimates ranging from $1.01 billion to $1.03 billion. Zacks Investment Research’s sell calculations are an average based on a survey of sell-side analysts who provide coverage for Fulton Financial.
Fulton Financial (NASDAQ:FULT – Get a rating) last released its quarterly earnings data on Tuesday, April 19. The bank reported earnings per share (EPS) of $0.38 for the quarter, beating the consensus estimate of $0.32 by $0.06. The company posted revenue of $219.85 million in the quarter, compared to analyst estimates of $221.61 million. Fulton Financial had a return on equity of 10.77% and a net margin of 28.22%. In the same quarter last year, the company earned $0.43 per share.
FULT has been the subject of several research analyst reports. Zacks Investment Research downgraded Fulton Financial from a “buy” rating to a “hold” rating in a Monday May 2 research note. Stephens downgraded Fulton Financial from an “equal weight” rating to an “overweight” rating and set a price target of $20.50 for the company in a Thursday, April 21 research report. To finish, StockNews.com assumed coverage of Fulton Financial shares in a Thursday, March 31 report. They set a “hold” rating for the company.
NASDAQ:FULT opened at $15.56 on Thursday. The company has a debt ratio of 0.23, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a fifty-day moving average of $16.07 and a 200-day moving average of $16.95. Fulton Financial has a 52-week low of $14.16 and a 52-week high of $19.17. The company has a market capitalization of $2.50 billion, a price-earnings ratio of 9.85 and a beta of 0.74.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 18. Shareholders of record on Friday, April 1 received a dividend of $0.15 per share. The ex-dividend date was Thursday, March 31. This represents an annualized dividend of $0.60 and a yield of 3.86%. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.14. Fulton Financial’s dividend payout ratio (DPR) is currently 37.97%.
In other news, Executive Vice President Angela M. Sargent sold 10,823 shares of the company in a trade on Friday, March 4. The stock was sold at an average price of $17.20, for a total transaction of $186,155.60. The sale was disclosed in a filing with the SEC, accessible via this hyperlink. Also, VPE David M. Campbell sold 5,156 shares of the company in a transaction dated Monday, May 23. The stock was sold at an average price of $15.51, for a total value of $79,969.56. Following completion of the transaction, the executive vice president now directly owns 22,202 shares of the company, valued at approximately $344,353.02. Disclosure of this sale can be found here. 1.01% of the shares are held by insiders of the company.
A number of institutional investors and hedge funds have recently increased or reduced their stake in FULT. Meeder Asset Management Inc. purchased a new stake in Fulton Financial in the first quarter worth approximately $27,000. Signaturefd LLC increased its stake in Fulton Financial by 44.6% during the fourth quarter. Signaturefd LLC now owns 1,953 shares of the bank valued at $33,000 after acquiring an additional 602 shares during the period. Lazard Asset Management LLC increased its position in shares of Fulton Financial by 1,554.1% in the first quarter. Lazard Asset Management LLC now owns 2,200 shares of the bank valued at $36,000 after acquiring 2,067 additional shares last quarter. Strs Ohio bought a new position in Fulton Financial in Q1 worth around $43,000. Finally, Neo Ivy Capital Management acquired a new stake in Fulton Financial during Q4 valued at approximately $45,000. Institutional investors and hedge funds hold 64.05% of the company’s shares.
About Fulton Financial (Get a rating)
Fulton Financial Corporation operates as a financial holding company that provides personal and business banking products and services. It accepts various checking accounts and savings deposit products, certificates of deposit and individual retirement accounts. The Company also offers secured consumer loans, including home equity loans and lines of credit, auto loans, personal lines of credit and current account overdraft protection; giant construction and residential mortgages; and commercial lending products including commercial, commercial and industrial real estate loans and construction loans, as well as equipment lease financing loans.
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