Brokerages Expect Fulton Financial Corp (FULT) Will Announce Quarterly Sales of $215.41 Million
Analysts predict that Fulton Financial Corp (NASDAQ:FULT) will announce $215.41 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Fulton Financial’s earnings. The highest sales estimate is $218.03 million and the lowest is $212.10 million. Fulton Financial posted sales of $206.37 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.4%. The business is scheduled to announce its next quarterly earnings report on Monday, January 28th.
According to Zacks, analysts expect that Fulton Financial will report full year sales of $834.21 million for the current financial year, with estimates ranging from $825.60 million to $840.48 million. For the next fiscal year, analysts anticipate that the company will report sales of $881.96 million, with estimates ranging from $866.50 million to $899.84 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Fulton Financial.
Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, October 16th. The bank reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.04. The company had revenue of $214.23 million for the quarter, compared to the consensus estimate of $209.72 million. Fulton Financial had a return on equity of 8.89% and a net margin of 20.45%. During the same quarter in the prior year, the company posted $0.28 EPS.
Fulton Financial stock traded down $0.06 during mid-day trading on Wednesday, hitting $16.89. The company’s stock had a trading volume of 845,237 shares, compared to its average volume of 928,930. The company has a market capitalization of $2.98 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.43. Fulton Financial has a one year low of $15.05 and a one year high of $19.55.
In other news, insider David M. Campbell bought 6,002 shares of the stock in a transaction on Thursday, November 8th. The stock was acquired at an average cost of $16.67 per share, for a total transaction of $100,053.34. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ernest J. Waters bought 2,000 shares of the stock in a transaction on Thursday, November 8th. The stock was purchased at an average price of $16.71 per share, with a total value of $33,420.00. Following the completion of the acquisition, the director now directly owns 27,793 shares in the company, valued at approximately $464,421.03. The disclosure for this purchase can be found here. 0.84% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC lifted its holdings in shares of Fulton Financial by 18.4% in the 3rd quarter. Riverhead Capital Management LLC now owns 21,260 shares of the bank’s stock worth $354,000 after buying an additional 3,300 shares during the period. Arizona State Retirement System lifted its stake in shares of Fulton Financial by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 122,022 shares of the bank’s stock worth $2,013,000 after purchasing an additional 3,471 shares during the last quarter. Tower Bridge Advisors lifted its stake in shares of Fulton Financial by 29.2% during the 3rd quarter. Tower Bridge Advisors now owns 15,785 shares of the bank’s stock worth $263,000 after purchasing an additional 3,563 shares during the last quarter. Glen Harbor Capital Management LLC lifted its stake in shares of Fulton Financial by 29.9% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 16,256 shares of the bank’s stock worth $268,000 after purchasing an additional 3,744 shares during the last quarter. Finally, Foundry Partners LLC lifted its stake in shares of Fulton Financial by 0.3% during the 3rd quarter. Foundry Partners LLC now owns 1,347,519 shares of the bank’s stock worth $22,436,000 after purchasing an additional 4,223 shares during the last quarter. Institutional investors and hedge funds own 62.07% 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.
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