Fulton Financial (NASDAQ:FULT) Announces Earnings Results, Beats Estimates By $0.05 EPS

Fulton Financial (NASDAQ:FULTGet Free Report) issued its quarterly earnings results on Wednesday. The bank reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05, FiscalAI reports. Fulton Financial had a net margin of 20.85% and a return on equity of 12.78%. The firm had revenue of $331.86 million during the quarter, compared to the consensus estimate of $359.36 million. During the same period in the prior year, the firm earned $0.52 EPS.

Fulton Financial Price Performance

Shares of Fulton Financial stock opened at $22.08 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.90 and a quick ratio of 0.90. Fulton Financial has a fifty-two week low of $16.26 and a fifty-two week high of $22.99. The firm has a fifty day moving average price of $20.86 and a two-hundred day moving average price of $19.75. The company has a market cap of $3.97 billion, a PE ratio of 10.51 and a beta of 0.81.

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.76 dividend on an annualized basis and a yield of 3.4%. Fulton Financial’s dividend payout ratio is 36.54%.

Key Fulton Financial News

Here are the key news stories impacting Fulton Financial this week:

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wall Street Zen downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. DA Davidson assumed coverage on shares of Fulton Financial in a report on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 price target for the company. Finally, Weiss Ratings raised shares of Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 27th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.00.

Read Our Latest Stock Analysis on Fulton Financial

Insider Activity at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $21.42, for a total transaction of $107,100.00. Following the completion of the transaction, the director directly owned 80,477 shares of the company’s stock, valued at approximately $1,723,817.34. This trade represents a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On Fulton Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC bought a new position in shares of Fulton Financial during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Fulton Financial by 373.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the bank’s stock worth $30,000 after acquiring an additional 1,311 shares during the period. State of Wyoming bought a new position in shares of Fulton Financial during the 2nd quarter worth about $30,000. Parallel Advisors LLC lifted its holdings in shares of Fulton Financial by 69.0% during the 3rd quarter. Parallel Advisors LLC now owns 1,903 shares of the bank’s stock worth $35,000 after acquiring an additional 777 shares during the period. Finally, Quarry LP bought a new position in shares of Fulton Financial during the 3rd quarter worth about $38,000. 72.02% of the stock is owned by institutional investors.

About Fulton Financial

(Get Free Report)

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.

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Earnings History for Fulton Financial (NASDAQ:FULT)

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