Fulton Financial (NASDAQ:FULT) Announces Earnings Results

Fulton Financial (NASDAQ:FULT) posted its quarterly earnings data on Tuesday. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08, Zacks reports. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%.

Fulton Financial Stock Performance

Shares of FULT traded up $0.36 during midday trading on Tuesday, hitting $16.03. 3,622,216 shares of the stock traded hands, compared to its average volume of 1,540,944. The business’s 50 day moving average price is $18.36 and its two-hundred day moving average price is $19.25. The firm has a market capitalization of $2.92 billion, a PE ratio of 10.21 and a beta of 0.68. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial has a 1-year low of $13.87 and a 1-year high of $22.49.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 4.49%. Fulton Financial’s payout ratio is currently 45.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FULT shares. DA Davidson boosted their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 23rd. Hovde Group increased their target price on Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, January 23rd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Fulton Financial has a consensus rating of “Hold” and a consensus target price of $20.64.

Insider Buying and Selling

In other news, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the sale, the president now owns 63,682 shares of the company’s stock, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.07% of the company’s stock.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.