Analysts Offer Predictions for Fulton Financial Corp’s Q1 2020 Earnings (NASDAQ:FULT)

Fulton Financial Corp (NASDAQ:FULT) – Equities researchers at Jefferies Financial Group decreased their Q1 2020 earnings per share (EPS) estimates for Fulton Financial in a research note issued to investors on Tuesday, October 8th. Jefferies Financial Group analyst C. Haire now anticipates that the bank will post earnings of $0.31 per share for the quarter, down from their previous forecast of $0.33. Jefferies Financial Group also issued estimates for Fulton Financial’s Q2 2020 earnings at $0.32 EPS, Q3 2020 earnings at $0.32 EPS, Q4 2020 earnings at $0.33 EPS, Q1 2021 earnings at $0.30 EPS, Q2 2021 earnings at $0.31 EPS, Q3 2021 earnings at $0.32 EPS and FY2021 earnings at $1.25 EPS.

FULT has been the subject of a number of other research reports. ValuEngine lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. Zacks Investment Research raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday. Boenning Scattergood reissued a “hold” rating on shares of Fulton Financial in a research report on Wednesday, July 17th. Finally, BidaskClub lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.83.

Fulton Financial stock opened at $15.83 on Thursday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 13.41 and a beta of 1.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.95. Fulton Financial has a fifty-two week low of $14.38 and a fifty-two week high of $17.60. The firm has a fifty day moving average price of $16.04 and a two-hundred day moving average price of $16.29.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, July 16th. The bank reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The firm had revenue of $221.94 million during the quarter, compared to analyst estimates of $218.51 million. Fulton Financial had a net margin of 23.75% and a return on equity of 10.51%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 EPS.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Monday, September 30th. Fulton Financial’s dividend payout ratio is currently 44.07%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC raised its position in shares of Fulton Financial by 34.9% during the second quarter. Advisory Services Network LLC now owns 2,418 shares of the bank’s stock valued at $40,000 after buying an additional 625 shares during the last quarter. CWM LLC raised its position in shares of Fulton Financial by 8.3% during the second quarter. CWM LLC now owns 8,722 shares of the bank’s stock valued at $143,000 after buying an additional 667 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Fulton Financial by 1.3% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 55,907 shares of the bank’s stock valued at $915,000 after buying an additional 700 shares during the last quarter. CWM Advisors LLC raised its position in shares of Fulton Financial by 8.3% during the second quarter. CWM Advisors LLC now owns 10,985 shares of the bank’s stock valued at $180,000 after buying an additional 845 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of Fulton Financial by 0.3% during the second quarter. Royal Bank of Canada now owns 247,970 shares of the bank’s stock valued at $4,061,000 after buying an additional 863 shares during the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

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

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