Fulton Financial Co. (NASDAQ:FULT – Get Rating) – Stock analysts at Jefferies Financial Group raised their Q4 2022 earnings estimates for shares of Fulton Financial in a research note issued on Monday, July 11th. Jefferies Financial Group analyst C. Haire now expects that the bank will earn $0.43 per share for the quarter, up from their prior estimate 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:FULT – Get Rating) last released its earnings results on Tuesday, April 19th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating 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 company had revenue of $219.85 million for the quarter, compared to analyst estimates of $221.61 million. During the same period in the prior year, the firm earned $0.43 EPS.
Other research analysts also recently issued research reports about the stock. Stephens raised shares of Fulton Financial from an “equal weight” rating to an “overweight” rating and set a $20.50 price objective 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 set a “hold” rating for the company.
NASDAQ FULT opened at $14.12 on Thursday. Fulton Financial has a 12 month low of $14.04 and a 12 month high of $19.17. The company has a 50-day moving average of $15.02 and a 200-day moving average of $16.55. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $2.27 billion, a P/E ratio of 8.94 and a beta of 0.75.
A number of large investors have recently modified their holdings of FULT. BlackRock Inc. boosted its stake in shares of Fulton Financial by 6.0% during the 1st quarter. BlackRock Inc. now owns 21,821,468 shares of the bank’s stock valued at $362,670,000 after buying an additional 1,232,379 shares during the last quarter. Vanguard Group Inc. lifted its stake in Fulton Financial by 1.7% in the first quarter. Vanguard Group Inc. now owns 16,102,336 shares of the bank’s stock valued at $267,622,000 after buying an additional 276,162 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Fulton Financial by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 10,805,481 shares of the bank’s stock valued at $179,591,000 after buying an additional 188,471 shares during the last quarter. State Street Corp lifted its stake in Fulton Financial by 8.9% in the first quarter. State Street Corp now owns 8,941,860 shares of the bank’s stock valued at $149,945,000 after buying an additional 731,995 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Fulton Financial by 0.4% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,922,756 shares of the bank’s stock valued at $48,576,000 after purchasing an additional 12,065 shares during the period. 64.05% of the stock is owned by institutional investors.
In other Fulton Financial news, EVP David M. Campbell sold 5,156 shares of the 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 completion of the sale, the executive vice president now owns 22,202 shares of the company’s stock, valued at $344,353.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, July 1st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.25%. The ex-dividend date is Thursday, June 30th. Fulton Financial’s dividend payout ratio (DPR) is 37.97%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to email@example.com.
Before you consider Fulton Financial, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Fulton Financial wasn’t on the list.
While Fulton Financial currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.