Fulton Financial Corp (NASDAQ:FULT) Expected to Post Earnings of $0.35 Per Share

Analysts expect that Fulton Financial Corp (NASDAQ:FULT) will report earnings of $0.35 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Fulton Financial’s earnings. The lowest EPS estimate is $0.34 and the highest is $0.36. Fulton Financial reported earnings of $0.37 per share in the same quarter last year, which would suggest a negative year over year growth rate of 5.4%. The firm is scheduled to announce its next earnings results after the market closes on Tuesday, October 22nd.

On average, analysts expect that Fulton Financial will report full-year earnings of $1.39 per share for the current financial year, with EPS estimates ranging from $1.37 to $1.42. For the next fiscal year, analysts forecast that the business will report earnings of $1.38 per share, with EPS estimates ranging from $1.28 to $1.45. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Fulton Financial.

FULT has been the topic of a number of recent research reports. BidaskClub raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Saturday. ValuEngine raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research downgraded Fulton Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 16th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Fulton Financial in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Fulton Financial currently has a consensus rating of “Hold” and an average target price of $18.83.

Hedge funds have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc bought a new position in Fulton Financial in the 2nd quarter worth approximately $25,000. Advisory Services Network LLC raised its position in Fulton Financial by 34.9% in the 2nd quarter. Advisory Services Network LLC now owns 2,418 shares of the bank’s stock worth $40,000 after purchasing an additional 625 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Fulton Financial in the 2nd quarter worth approximately $62,000. CWM LLC raised its position in Fulton Financial by 8.3% in the 2nd quarter. CWM LLC now owns 8,722 shares of the bank’s stock worth $143,000 after purchasing an additional 667 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new position in Fulton Financial in the 2nd quarter worth approximately $166,000. Hedge funds and other institutional investors own 64.72% of the company’s stock.

NASDAQ FULT traded up $0.30 during trading on Monday, reaching $16.69. 951,923 shares of the company traded hands, compared to its average volume of 925,783. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.95 and a current ratio of 0.96. The stock’s 50 day moving average price is $16.14 and its two-hundred day moving average price is $16.32. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 14.14 and a beta of 1.02. Fulton Financial has a 1-year low of $14.38 and a 1-year high of $17.60.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Monday, September 30th. Fulton Financial’s dividend payout ratio (DPR) is currently 44.07%.

About Fulton Financial

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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