Fulton Financial Co. (NASDAQ:FULT) – Research analysts at Boenning Scattergood increased their FY2021 earnings estimates for shares of Fulton Financial in a report released on Thursday, October 21st. Boenning Scattergood analyst E. Zwick now anticipates that the bank will post earnings per share of $1.62 for the year, up from their previous forecast of $1.45. Boenning Scattergood also issued estimates for Fulton Financial’s Q4 2021 earnings at $0.36 EPS.
Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Monday, October 18th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.12. Fulton Financial had a return on equity of 10.27% and a net margin of 25.29%. The company had revenue of $233.85 million during the quarter, compared to analysts’ expectations of $219.08 million. During the same quarter in the previous year, the business earned $0.38 EPS. Fulton Financial’s revenue was up 7.6% compared to the same quarter last year.
Shares of NASDAQ FULT opened at $16.82 on Friday. The business has a fifty day moving average price of $15.62 and a 200 day moving average price of $16.22. Fulton Financial has a 1-year low of $10.27 and a 1-year high of $18.41. The stock has a market capitalization of $2.74 billion, a P/E ratio of 11.29 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.91 and a quick ratio of 0.91.
A number of large investors have recently added to or reduced their stakes in FULT. Captrust Financial Advisors lifted its holdings in shares of Fulton Financial by 439.1% in the 1st quarter. Captrust Financial Advisors now owns 1,725 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,405 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Fulton Financial during the 2nd quarter worth approximately $40,000. FMR LLC lifted its stake in Fulton Financial by 32.2% in the 2nd quarter. FMR LLC now owns 3,089 shares of the bank’s stock valued at $48,000 after buying an additional 752 shares in the last quarter. Tompkins Financial Corp purchased a new stake in Fulton Financial in the 3rd quarter valued at approximately $70,000. Finally, Key Financial Inc lifted its stake in Fulton Financial by 54.1% in the 2nd quarter. Key Financial Inc now owns 6,833 shares of the bank’s stock valued at $105,000 after buying an additional 2,400 shares in the last quarter. Hedge funds and other institutional investors own 62.97% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 15th. Stockholders of record on Friday, October 1st were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, September 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.33%. Fulton Financial’s payout ratio is presently 51.85%.
Fulton Financial Company Profile
Fulton Financial Corp. is financial holding company, which through its subsidiaries, engages in the provision of consumer and commercial banking products and services. It offers checking account and savings deposit products, certificates of deposit and individual retirement accounts. The company also offers investment management, trust, brokerage, insurance and investment advisory services to consumer and commercial banking customers in the market areas serviced by the subsidiary banks.
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