Analysts Anticipate Fulton Financial Corp (NASDAQ:FULT) to Post $0.32 Earnings Per Share

Wall Street brokerages forecast that Fulton Financial Corp (NASDAQ:FULT) will announce earnings per share of $0.32 for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Fulton Financial’s earnings. The highest EPS estimate is $0.33 and the lowest is $0.31. Fulton Financial reported earnings per share of $0.33 during the same quarter last year, which indicates a negative year over year growth rate of 3%. The company is scheduled to report its next earnings report on Tuesday, April 21st.

On average, analysts expect that Fulton Financial will report full-year earnings of $1.36 per share for the current year, with EPS estimates ranging from $1.30 to $1.46. For the next financial year, analysts expect that the firm will report earnings of $1.40 per share, with EPS estimates ranging from $1.34 to $1.52. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Fulton Financial.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). The company had revenue of $217.76 million for the quarter, compared to analysts’ expectations of $216.83 million. Fulton Financial had a net margin of 22.34% and a return on equity of 10.02%. During the same period in the previous year, the business earned $0.33 earnings per share.

Several research firms have issued reports on FULT. Zacks Investment Research raised shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Thursday, January 9th. BidaskClub downgraded shares of Fulton Financial from a “sell” rating to a “strong sell” rating in a report on Friday, January 24th. Finally, ValuEngine raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Fulton Financial has an average rating of “Hold” and a consensus target price of $19.00.

FULT opened at $16.82 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.38. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 12.27 and a beta of 0.99. Fulton Financial has a 52-week low of $14.85 and a 52-week high of $18.00. The firm’s fifty day simple moving average is $17.14 and its two-hundred day simple moving average is $16.76.

In other Fulton Financial news, EVP Daniel R. Stolzer sold 6,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $17.59, for a total transaction of $105,540.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.02% of the company’s stock.

Several large investors have recently bought and sold shares of FULT. Macquarie Group Ltd. acquired a new stake in Fulton Financial during the second quarter valued at $314,000. State of Alaska Department of Revenue acquired a new stake in Fulton Financial during the third quarter valued at $478,000. Meeder Asset Management Inc. grew its position in Fulton Financial by 118.2% during the third quarter. Meeder Asset Management Inc. now owns 8,208 shares of the bank’s stock valued at $133,000 after buying an additional 4,446 shares during the period. Envestnet Asset Management Inc. grew its position in Fulton Financial by 15.8% during the third quarter. Envestnet Asset Management Inc. now owns 21,489 shares of the bank’s stock valued at $348,000 after buying an additional 2,938 shares during the period. Finally, Smith Graham & Co. Investment Advisors LP grew its position in Fulton Financial by 0.3% during the third quarter. Smith Graham & Co. Investment Advisors LP now owns 335,510 shares of the bank’s stock valued at $5,429,000 after buying an additional 1,080 shares during the period. 63.93% of the stock is currently owned by hedge funds and other institutional investors.

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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