Fulton Financial (NASDAQ:FULT) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Fulton Financial (NASDAQ:FULT) posted its earnings results on Tuesday. The bank reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08, Zacks reports. The company had revenue of $322.64 million for the quarter, compared to the consensus estimate of $315.07 million. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same quarter in the prior year, the company earned $0.40 earnings per share.

Fulton Financial Stock Down 0.4 %

FULT opened at $15.97 on Thursday. Fulton Financial has a fifty-two week low of $13.87 and a fifty-two week high of $22.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 10.17 and a beta of 0.68. The firm’s fifty day moving average is $18.17 and its 200 day moving average is $19.21.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 4.51%. Fulton Financial’s payout ratio is 45.86%.

Insider Buying and Selling at Fulton Financial

In related news, President Angela M. Snyder sold 13,322 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares in the company, valued at approximately $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FULT shares. StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. DA Davidson reaffirmed a “neutral” rating and set a $20.00 target price on shares of Fulton Financial in a report on Wednesday. Hovde Group lifted their price target on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods upped their price objective on Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Fulton Financial currently has a consensus rating of “Hold” and an average target price of $20.36.

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.