Fulton Financial Co. Forecasted to Earn Q2 2024 Earnings of $0.14 Per Share (NASDAQ:FULT)

Fulton Financial Co. (NASDAQ:FULT - Free Report) - Research analysts at DA Davidson reduced their Q2 2024 EPS estimates for shares of Fulton Financial in a report issued on Wednesday, May 1st. DA Davidson analyst M. Navas now forecasts that the bank will earn $0.14 per share for the quarter, down from their prior estimate of $0.38. DA Davidson has a "Neutral" rating and a $18.00 price target on the stock. The consensus estimate for Fulton Financial's current full-year earnings is $1.57 per share. DA Davidson also issued estimates for Fulton Financial's FY2024 earnings at $1.30 EPS and FY2025 earnings at $1.70 EPS.

A number of other analysts also recently issued reports on the stock. Janney Montgomery Scott raised shares of Fulton Financial from a "neutral" rating to a "buy" rating and set a $19.50 target price for the company in a research report on Monday. Keefe, Bruyette & Woods increased their price objective on shares of Fulton Financial from $17.00 to $19.00 and gave the company a "market perform" rating in a research report on Tuesday. StockNews.com downgraded shares of Fulton Financial from a "hold" rating to a "sell" rating in a research report on Friday, April 26th. Jefferies Financial Group lowered their price objective on shares of Fulton Financial from $17.00 to $16.00 and set a "hold" rating for the company in a research report on Monday, April 8th. Finally, Stephens lowered their price objective on shares of Fulton Financial from $16.00 to $15.50 and set an "equal weight" rating for the company in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $17.60.

Fulton Financial Trading Up 0.4 %

FULT traded up $0.06 on Friday, reaching $17.03. 1,694,356 shares of the company's stock were exchanged, compared to its average volume of 1,370,663. The company's 50 day moving average is $15.41 and its 200-day moving average is $15.14. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 10.58 and a beta of 0.77. Fulton Financial has a twelve month low of $9.64 and a twelve month high of $17.34. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90.

Hedge Funds Weigh In On Fulton Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in Fulton Financial by 82.8% in the fourth quarter. Blue Trust Inc. now owns 1,724 shares of the bank's stock worth $28,000 after purchasing an additional 781 shares during the period. SRS Capital Advisors Inc. boosted its holdings in Fulton Financial by 0.9% in the third quarter. SRS Capital Advisors Inc. now owns 92,173 shares of the bank's stock worth $1,116,000 after purchasing an additional 864 shares during the period. AlphaMark Advisors LLC boosted its holdings in Fulton Financial by 5.3% in the fourth quarter. AlphaMark Advisors LLC now owns 19,714 shares of the bank's stock worth $324,000 after purchasing an additional 993 shares during the period. Miracle Mile Advisors LLC boosted its holdings in shares of Fulton Financial by 3.3% during the third quarter. Miracle Mile Advisors LLC now owns 32,494 shares of the bank's stock valued at $394,000 after acquiring an additional 1,048 shares during the period. Finally, Meridian Wealth Partners LLC boosted its holdings in shares of Fulton Financial by 6.1% during the third quarter. Meridian Wealth Partners LLC now owns 18,579 shares of the bank's stock valued at $225,000 after acquiring an additional 1,075 shares during the period. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Thursday, March 28th. Fulton Financial's dividend payout ratio (DPR) is currently 42.24%.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.