Fulton Financial Co. (NASDAQ:FULT) Expected to Post Q2 2024 Earnings of $0.38 Per Share

Fulton Financial Co. (NASDAQ:FULT) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Fulton Financial in a report released on Friday, April 19th. DA Davidson analyst M. Navas expects that the bank will post earnings per share of $0.38 for the quarter. The consensus estimate for Fulton Financial’s current full-year earnings is $1.55 per share.

Several other research firms have also recently issued reports on FULT. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Keefe, Bruyette & Woods raised their target price on Fulton Financial from $16.00 to $17.00 and gave the stock a “market perform” rating in a report on Thursday, January 18th. Jefferies Financial Group reduced their target price on Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Finally, Stephens reduced their target price on Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating on the stock in a report on Thursday, April 18th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $16.17.

Fulton Financial Price Performance

Fulton Financial stock opened at $15.21 on Monday. The business’s 50-day simple moving average is $15.29 and its 200 day simple moving average is $14.96. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 9.45 and a beta of 0.81. Fulton Financial has a 12-month low of $9.64 and a 12-month high of $17.06. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On Fulton Financial

A number of hedge funds have recently modified their holdings of the business. Blue Trust Inc. raised its position in shares of Fulton Financial by 82.8% during 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. raised its position in Fulton Financial by 0.9% in the 3rd quarter. SRS Capital Advisors Inc. now owns 92,173 shares of the bank’s stock valued at $1,116,000 after buying an additional 864 shares during the last quarter. AlphaMark Advisors LLC raised its position in Fulton Financial by 5.3% in the 4th quarter. AlphaMark Advisors LLC now owns 19,714 shares of the bank’s stock valued at $324,000 after buying an additional 993 shares during the last quarter. Miracle Mile Advisors LLC raised its position in Fulton Financial by 3.3% in the 3rd quarter. Miracle Mile Advisors LLC now owns 32,494 shares of the bank’s stock valued at $394,000 after buying an additional 1,048 shares during the last quarter. Finally, Meridian Wealth Partners LLC raised its position in Fulton Financial by 6.1% in the 3rd quarter. Meridian Wealth Partners LLC now owns 18,579 shares of the bank’s stock valued at $225,000 after buying an additional 1,075 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Thursday, March 28th. Fulton Financial’s dividend payout ratio (DPR) is currently 42.24%.

About Fulton Financial

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.