Fulton Financial (NASDAQ:FULT) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Fulton Financial (NASDAQ:FULT) announced its quarterly earnings data on Tuesday. The bank reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01, Briefing.com reports. Fulton Financial had a return on equity of 10.55% and a net margin of 23.75%. The company had revenue of $221.94 million for the quarter, compared to analysts’ expectations of $218.51 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Fulton Financial’s revenue was up 6.6% compared to the same quarter last year.
Shares of FULT opened at $16.46 on Thursday. Fulton Financial has a 12 month low of $14.38 and a 12 month high of $18.45. The firm’s fifty day simple moving average is $16.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.48 and a beta of 1.02.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.52 annualized dividend and a dividend yield of 3.16%. Fulton Financial’s dividend payout ratio is presently 44.07%.
In other news, insider Michael J. Deporter sold 3,000 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $16.91, for a total transaction of $50,730.00. Following the completion of the sale, the insider now owns 2,266 shares in the company, valued at approximately $38,318.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Curtis J. Myers sold 6,500 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $17.03, for a total value of $110,695.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,660 shares of company stock valued at $249,145. Company insiders own 1.02% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank lifted its stake in Fulton Financial by 25.3% in the 1st quarter. Toronto Dominion Bank now owns 3,167 shares of the bank’s stock valued at $49,000 after buying an additional 639 shares in the last quarter. ETF Managers Group LLC lifted its stake in Fulton Financial by 9.5% in the 1st quarter. ETF Managers Group LLC now owns 8,203 shares of the bank’s stock valued at $127,000 after buying an additional 709 shares in the last quarter. Creative Planning lifted its stake in Fulton Financial by 5.0% in the 1st quarter. Creative Planning now owns 16,423 shares of the bank’s stock valued at $254,000 after buying an additional 776 shares in the last quarter. Eagle Boston Investment Management Inc. lifted its stake in Fulton Financial by 1.2% in the 1st quarter. Eagle Boston Investment Management Inc. now owns 67,551 shares of the bank’s stock valued at $1,045,000 after buying an additional 830 shares in the last quarter. Finally, CWM Advisors LLC lifted its stake in Fulton Financial by 8.3% in the 2nd quarter. CWM Advisors LLC now owns 10,985 shares of the bank’s stock valued at $180,000 after buying an additional 845 shares in the last quarter. Institutional investors own 65.00% 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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