Brokerages Expect Fulton Financial Corporation (FULT) Will Post Earnings of $0.28 Per Share
Equities analysts expect that Fulton Financial Corporation (NASDAQ:FULT) will post earnings of $0.28 per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Fulton Financial Corporation’s earnings. Fulton Financial Corporation reported earnings of $0.24 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 16.7%. The firm is expected to report its next earnings results on Tuesday, October 17th.
On average, analysts expect that Fulton Financial Corporation will report full year earnings of $1.06 per share for the current fiscal year, with EPS estimates ranging from $1.05 to $1.07. For the next financial year, analysts expect that the company will post earnings of $1.19 per share, with EPS estimates ranging from $1.17 to $1.20. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Fulton Financial Corporation.
Fulton Financial Corporation (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, July 18th. The bank reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $193.93 million during the quarter, compared to the consensus estimate of $194.02 million. Fulton Financial Corporation had a net margin of 20.86% and a return on equity of 8.02%. During the same quarter last year, the firm posted $0.23 EPS.
FULT has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods set a $17.00 target price on Fulton Financial Corporation and gave the company a “hold” rating in a report on Monday, April 10th. Barclays PLC restated a “sell” rating and set a $18.00 target price (up previously from $17.00) on shares of Fulton Financial Corporation in a report on Friday, April 21st. Jefferies Group LLC restated a “hold” rating and set a $20.00 target price on shares of Fulton Financial Corporation in a report on Friday, May 5th. ValuEngine upgraded Fulton Financial Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. Finally, BidaskClub upgraded Fulton Financial Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.33.
In other Fulton Financial Corporation news, insider Craig A. Roda sold 19,309 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $18.42, for a total value of $355,671.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Scott Smith, Jr. sold 5,539 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $18.35, for a total value of $101,640.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,348 shares of company stock valued at $484,312. 0.68% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Teachers Advisors LLC increased its position in Fulton Financial Corporation by 5.8% in the fourth quarter. Teachers Advisors LLC now owns 1,669,593 shares of the bank’s stock worth $31,388,000 after buying an additional 92,203 shares during the period. Bank of Montreal Can increased its position in Fulton Financial Corporation by 1.3% in the first quarter. Bank of Montreal Can now owns 12,971 shares of the bank’s stock worth $231,000 after buying an additional 169 shares during the period. Capstone Asset Management Co. increased its position in Fulton Financial Corporation by 0.5% in the first quarter. Capstone Asset Management Co. now owns 13,849 shares of the bank’s stock worth $247,000 after buying an additional 70 shares during the period. Louisiana State Employees Retirement System increased its position in Fulton Financial Corporation by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 44,000 shares of the bank’s stock worth $785,000 after buying an additional 1,200 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Fulton Financial Corporation by 1.6% in the first quarter. Nisa Investment Advisors LLC now owns 91,500 shares of the bank’s stock worth $1,633,000 after buying an additional 1,400 shares during the period. Institutional investors and hedge funds own 62.08% of the company’s stock.
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Shares of Fulton Financial Corporation (FULT) traded up 0.56% during mid-day trading on Friday, hitting $18.05. 337,542 shares of the stock traded hands. Fulton Financial Corporation has a 52 week low of $13.46 and a 52 week high of $19.90. The firm’s 50-day moving average is $18.73 and its 200-day moving average is $18.37. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 18.23 and a beta of 1.16.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, July 3rd were issued a $0.11 dividend. The ex-dividend date was Thursday, June 29th. This represents a $0.44 dividend on an annualized basis and a yield of 2.45%. Fulton Financial Corporation’s dividend payout ratio (DPR) is 44.44%.
About Fulton Financial Corporation
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).
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