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Brokers Issue Forecasts for Fulton Financial Co.’s Q4 2022 Earnings (NASDAQ:FULT)


Fulton Financial Co. (NASDAQ:FULTGet Rating) – Investment analysts at Jefferies Financial Group upped their Q4 2022 EPS estimates for Fulton Financial in a research note issued on Monday, July 11th. Jefferies Financial Group analyst C. Haire now forecasts that the bank will post earnings per share of $0.43 for the quarter, up from their prior forecast of $0.42. The consensus estimate for Fulton Financial’s current full-year earnings is $1.60 per share. Jefferies Financial Group also issued estimates for Fulton Financial’s Q1 2023 earnings at $0.37 EPS, Q2 2023 earnings at $0.38 EPS, Q3 2023 earnings at $0.39 EPS and Q4 2023 earnings at $0.40 EPS.

Fulton Financial (NASDAQ:FULTGet Rating) last announced its earnings results on Tuesday, April 19th. The bank reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. Fulton Financial had a net margin of 28.22% and a return on equity of 10.57%. The business had revenue of $219.85 million during the quarter, compared to the consensus estimate of $221.61 million. During the same quarter last year, the firm earned $0.43 earnings per share.

Several other equities research analysts also recently weighed in on the stock. Stephens raised shares of Fulton Financial from an “equal weight” rating to an “overweight” rating and set a $20.50 price target for the company in a research note on Thursday, April 21st. StockNews.com assumed coverage on shares of Fulton Financial in a research note on Thursday, March 31st. They issued a “hold” rating for the company.

Shares of NASDAQ FULT opened at $13.89 on Thursday. Fulton Financial has a twelve month low of $13.72 and a twelve month high of $19.17. The firm has a fifty day simple moving average of $14.98 and a 200 day simple moving average of $16.53. The company has a market capitalization of $2.23 billion, a PE ratio of 8.79 and a beta of 0.75. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.22.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, July 1st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Thursday, June 30th. Fulton Financial’s payout ratio is 37.97%.

In other news, EVP David M. Campbell sold 5,156 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $15.51, for a total value of $79,969.56. Following the sale, the executive vice president now owns 22,202 shares of the company’s stock, valued at $344,353.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Private Advisor Group LLC boosted its stake in shares of Fulton Financial by 5.3% in the 2nd quarter. Private Advisor Group LLC now owns 32,925 shares of the bank’s stock valued at $476,000 after purchasing an additional 1,666 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Fulton Financial by 136.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 26,398 shares of the bank’s stock valued at $381,000 after buying an additional 15,244 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Fulton Financial in the 2nd quarter worth about $144,000. Verition Fund Management LLC lifted its position in shares of Fulton Financial by 70.4% in the 1st quarter. Verition Fund Management LLC now owns 38,112 shares of the bank’s stock worth $633,000 after purchasing an additional 15,749 shares during the period. Finally, Walleye Capital LLC purchased a new stake in shares of Fulton Financial in the 1st quarter worth about $5,754,000. 64.05% of the stock is currently owned by hedge funds and other institutional investors.

About Fulton Financial (Get Rating)

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers secured consumer loans, including home equity loans and lines of credit, automobile loans, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial real estate, commercial and industrial, and construction loans, as well as equipment lease financing loans.

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Earnings History and Estimates for Fulton Financial (NASDAQ:FULT)



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