Wall Street brokerages predict that Fulton Financial Co. (NASDAQ:FULT) will post $0.34 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Fulton Financial's earnings. The highest EPS estimate is $0.36 and the lowest is $0.32. Fulton Financial posted earnings of $0.16 per share in the same quarter last year, which would suggest a positive year over year growth rate of 112.5%. The firm is expected to issue its next earnings results after the market closes on Tuesday, April 20th.
On average, analysts expect that Fulton Financial will report full-year earnings of $1.22 per share for the current year, with EPS estimates ranging from $1.08 to $1.34. For the next fiscal year, analysts anticipate that the business will post earnings of $1.16 per share, with EPS estimates ranging from $1.00 to $1.28. Zacks Investment Research's earnings per share calculations are an average based on a survey of sell-side research firms that follow Fulton Financial.
Fulton Financial (NASDAQ:FULT) last released its earnings results on Monday, January 18th. The bank reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.01). The company had revenue of $220.15 million for the quarter, compared to the consensus estimate of $219.12 million. Fulton Financial had a net margin of 18.30% and a return on equity of 7.75%. During the same quarter in the previous year, the company posted $0.33 earnings per share.
A number of analysts have recently weighed in on FULT shares. Zacks Investment Research upgraded Fulton Financial from a "hold" rating to a "buy" rating and set a $19.00 target price for the company in a research report on Tuesday, March 23rd. Raymond James downgraded Fulton Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday.
Several hedge funds have recently made changes to their positions in FULT. Perigon Wealth Management LLC bought a new stake in shares of Fulton Financial during the 4th quarter worth $27,000. McClarren Financial Advisors Inc. bought a new stake in shares of Fulton Financial during the 4th quarter worth $30,000. Key Financial Inc bought a new stake in shares of Fulton Financial during the 4th quarter worth $56,000. Toronto Dominion Bank acquired a new position in Fulton Financial in the 4th quarter worth about $56,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Fulton Financial in the 4th quarter worth about $69,000. Institutional investors and hedge funds own 62.56% of the company's stock.
NASDAQ:FULT opened at $17.03 on Thursday. The stock has a fifty day moving average price of $16.74 and a 200-day moving average price of $13.48. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 15.34 and a beta of 0.82. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.95 and a current ratio of 0.96. Fulton Financial has a fifty-two week low of $8.89 and a fifty-two week high of $18.41.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 1st will be given a dividend of $0.14 per share. This is an increase from Fulton Financial's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Wednesday, March 31st. Fulton Financial's dividend payout ratio is currently 40.29%.
Fulton Financial Company Profile
Fulton Financial Corporation operates as a 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 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, financial, agricultural, and real estate loans.
Read More: What are some reasons analysts would give stocks a buy rating?
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