Wall Street analysts expect that Fulton Financial Corp (NASDAQ:FULT) will announce earnings of $0.35 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Fulton Financial’s earnings. The lowest EPS estimate is $0.34 and the highest is $0.36. Fulton Financial posted earnings per share of $0.37 during the same quarter last year, which would indicate a negative year over year growth rate of 5.4%. The business is scheduled to report its next earnings results on Tuesday, October 15th.
According to Zacks, analysts expect that Fulton Financial will report full-year earnings of $1.39 per share for the current financial year, with EPS estimates ranging from $1.38 to $1.42. For the next financial year, analysts expect that the firm will post earnings of $1.40 per share, with EPS estimates ranging from $1.36 to $1.45. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Fulton Financial.
Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, July 16th. The bank reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Fulton Financial had a return on equity of 10.51% and a net margin of 23.75%. The business had revenue of $221.94 million during the quarter, compared to analyst estimates of $218.51 million. During the same period in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year.
A number of brokerages have recently commented on FULT. ValuEngine lowered Fulton Financial from a “hold” rating to a “sell” rating in a report on Friday, June 21st. BidaskClub raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Friday, June 28th. Boenning Scattergood reaffirmed a “hold” rating on shares of Fulton Financial in a report on Wednesday, July 17th. Finally, Zacks Investment Research upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Fulton Financial currently has an average rating of “Hold” and an average price target of $18.83.
Fulton Financial stock traded up $0.33 during mid-day trading on Friday, hitting $16.60. 679,867 shares of the company’s stock traded hands, compared to its average volume of 956,705. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.43. Fulton Financial has a one year low of $14.38 and a one year high of $17.95. The firm has a 50 day moving average price of $16.09 and a 200 day moving average price of $16.33. The company has a market cap of $2.76 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.44 and a beta of 1.03.
Several hedge funds and other institutional investors have recently bought and sold shares of FULT. NumerixS Investment Technologies Inc acquired a new stake in Fulton Financial in the second quarter worth approximately $25,000. Advisory Services Network LLC raised its stake in shares of Fulton Financial by 34.9% in the 2nd quarter. Advisory Services Network LLC now owns 2,418 shares of the bank’s stock worth $40,000 after buying an additional 625 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Fulton Financial by 25.3% in the first quarter. Toronto Dominion Bank now owns 3,167 shares of the bank’s stock valued at $49,000 after buying an additional 639 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Fulton Financial in the second quarter valued at $62,000. Finally, Pearl River Capital LLC bought a new position in Fulton Financial during the first quarter valued at about $112,000. Institutional investors and hedge funds own 64.51% of the company’s stock.
Fulton Financial Company Profile
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.
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.