$0.28 Earnings Per Share Expected for Fulton Financial Corporation (FULT) This Quarter
Analysts expect that Fulton Financial Corporation (NASDAQ:FULT) will announce $0.28 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have provided estimates for Fulton Financial Corporation’s earnings. Fulton Financial Corporation posted earnings per share of $0.24 in the same quarter last year, which would indicate a positive year over year growth rate of 16.7%. The company is scheduled to issue its next quarterly earnings report on Tuesday, October 17th.
According to Zacks, analysts expect that Fulton Financial Corporation will report full-year earnings of $1.07 per share for the current year, with EPS estimates ranging from $1.05 to $1.07. For the next financial year, analysts expect that the business will post earnings of $1.19 per share, with EPS estimates ranging from $1.17 to $1.20. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Fulton Financial Corporation.
Fulton Financial Corporation (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, July 18th. The bank reported $0.26 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. Fulton Financial Corporation had a return on equity of 8.02% and a net margin of 20.86%. The business had revenue of $193.93 million for the quarter, compared to analysts’ expectations of $194.02 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share.
Several equities analysts have issued reports on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $20.00 target price on shares of Fulton Financial Corporation in a research note on Friday, September 15th. Zacks Investment Research downgraded shares of Fulton Financial Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $18.00 price target on shares of Fulton Financial Corporation in a research report on Tuesday, September 26th. BidaskClub lowered shares of Fulton Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, Stephens assumed coverage on shares of Fulton Financial Corporation in a report on Thursday, July 13th. They issued an “equal weight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $18.33.
Fulton Financial Corporation (NASDAQ:FULT) traded down 0.26% during trading on Friday, hitting $18.95. The stock had a trading volume of 890,179 shares. The company’s 50-day moving average is $17.63 and its 200 day moving average is $18.06. The firm has a market cap of $3.32 billion, a PE ratio of 19.14 and a beta of 1.17. Fulton Financial Corporation has a 52 week low of $14.04 and a 52 week high of $19.90.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 2nd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.32%. Fulton Financial Corporation’s dividend payout ratio is currently 44.44%.
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In related news, insider Craig A. Roda sold 19,309 shares of the company’s 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 SEC, which can be accessed through this hyperlink. Also, insider Michael J. Deporter sold 1,500 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $18.00, for a total value of $27,000.00. The disclosure for this sale can be found here. Insiders have sold 26,348 shares of company stock valued at $484,312 over the last quarter. Insiders own 0.68% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Fulton Financial Corporation by 64.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,202 shares of the bank’s stock valued at $129,000 after purchasing an additional 2,824 shares during the period. Advisor Group Inc. raised its stake in shares of Fulton Financial Corporation by 5.3% in the second quarter. Advisor Group Inc. now owns 8,336 shares of the bank’s stock worth $158,000 after purchasing an additional 417 shares during the last quarter. River Wealth Advisors LLC purchased a new position in shares of Fulton Financial Corporation in the first quarter worth about $182,000. Jane Street Group LLC purchased a new position in shares of Fulton Financial Corporation in the first quarter worth about $184,000. Finally, Invictus RG purchased a new position in shares of Fulton Financial Corporation in the first quarter worth about $186,000. Institutional investors and hedge funds own 62.99% of the company’s stock.
Fulton Financial Corporation Company Profile
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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