Equities analysts expect that Fulton Financial Corp (NASDAQ:FULT) will report $223.43 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Fulton Financial’s earnings. The highest sales estimate is $225.00 million and the lowest is $221.10 million. Fulton Financial reported sales of $214.23 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.3%. The company is scheduled to announce its next earnings report after the market closes on Tuesday, October 22nd.
On average, analysts expect that Fulton Financial will report full-year sales of $880.89 million for the current financial year, with estimates ranging from $876.30 million to $883.36 million. For the next fiscal year, analysts expect that the firm will post sales of $893.53 million, with estimates ranging from $879.30 million to $904.29 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Fulton Financial.
Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, July 16th. The bank reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Fulton Financial had a net margin of 23.75% and a return on equity of 10.51%. The company had revenue of $221.94 million during the quarter, compared to analyst estimates of $218.51 million. During the same period last year, the firm posted $0.20 EPS. Fulton Financial’s revenue for the quarter was up 6.6% compared to the same quarter last year.
FULT traded up $0.17 during trading on Tuesday, reaching $15.88. 335,444 shares of the company’s stock were exchanged, compared to its average volume of 944,371. Fulton Financial has a 1 year low of $14.38 and a 1 year high of $17.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market capitalization of $2.63 billion, a P/E ratio of 13.45 and a beta of 1.02. The company’s fifty day simple moving average is $16.06 and its 200-day simple moving average is $16.30.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Monday, September 30th. Fulton Financial’s dividend payout ratio (DPR) is 44.07%.
Several large investors have recently bought and sold shares of FULT. Nuveen Asset Management LLC purchased a new position in shares of Fulton Financial during the 2nd quarter valued at approximately $19,076,000. LSV Asset Management increased its holdings in shares of Fulton Financial by 41.3% during the 2nd quarter. LSV Asset Management now owns 2,014,859 shares of the bank’s stock valued at $32,983,000 after purchasing an additional 588,884 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Fulton Financial by 16.1% during the 2nd quarter. Janus Henderson Group PLC now owns 2,511,773 shares of the bank’s stock valued at $41,118,000 after purchasing an additional 348,292 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Fulton Financial by 98.8% during the 2nd quarter. Acadian Asset Management LLC now owns 526,477 shares of the bank’s stock valued at $8,619,000 after purchasing an additional 261,606 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Fulton Financial by 12.0% during the 2nd quarter. Victory Capital Management Inc. now owns 2,107,541 shares of the bank’s stock valued at $34,500,000 after purchasing an additional 225,612 shares in the last quarter. 64.69% of the stock is owned by hedge funds and other institutional investors.
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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