Equities research analysts expect Fulton Financial Corp (NASDAQ:FULT) to report sales of $223.27 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Fulton Financial’s earnings, with the highest sales estimate coming in at $225.88 million and the lowest estimate coming in at $220.20 million. Fulton Financial reported sales of $214.23 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.2%. The business is expected to issue its next quarterly earnings results on Tuesday, October 15th.
On average, analysts expect that Fulton Financial will report full-year sales of $879.36 million for the current fiscal year, with estimates ranging from $866.80 million to $886.35 million. For the next fiscal year, analysts anticipate that the firm will report sales of $897.26 million, with estimates ranging from $878.30 million to $921.41 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Fulton Financial.
Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, July 16th. The bank reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The company had revenue of $221.94 million during the quarter, compared to analysts’ expectations of $218.51 million. Fulton Financial had a return on equity of 10.51% and a net margin of 23.75%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 EPS.
Several equities research analysts recently issued reports on FULT shares. ValuEngine lowered Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. BidaskClub raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Friday, June 28th. Boenning Scattergood reissued a “hold” rating on shares of Fulton Financial in a research report on Wednesday, July 17th. Finally, Zacks Investment Research raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Fulton Financial has an average rating of “Hold” and an average price target of $18.83.
Several hedge funds have recently bought and sold shares of the stock. CWM LLC increased its position in Fulton Financial by 8.3% in the second quarter. CWM LLC now owns 8,722 shares of the bank’s stock worth $143,000 after buying an additional 667 shares during the period. WINTON GROUP Ltd increased its position in Fulton Financial by 39.7% in the second quarter. WINTON GROUP Ltd now owns 473,965 shares of the bank’s stock worth $7,759,000 after buying an additional 134,784 shares during the period. Hudock Capital Group LLC increased its position in Fulton Financial by 99.8% in the first quarter. Hudock Capital Group LLC now owns 4,855 shares of the bank’s stock worth $75,000 after buying an additional 2,425 shares during the period. Norges Bank acquired a new stake in Fulton Financial in the fourth quarter worth $28,422,000. Finally, Geode Capital Management LLC increased its position in Fulton Financial by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 2,356,948 shares of the bank’s stock worth $36,485,000 after buying an additional 108,936 shares during the period. 66.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fulton Financial stock traded down $0.50 on Friday, hitting $15.31. 1,068,982 shares of the company’s stock traded hands, compared to its average volume of 974,199. The stock has a market cap of $2.55 billion, a P/E ratio of 12.97, a PEG ratio of 1.41 and a beta of 1.00. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average is $16.37 and its 200 day moving average is $16.43. Fulton Financial has a 52-week low of $14.38 and a 52-week high of $18.35.
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.
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