Fulton Financial Co. (NASDAQ:FULT) to Post FY2022 Earnings of $1.59 Per Share, Jefferies Financial Group Forecasts

Fulton Financial Co. (NASDAQ:FULTGet Rating) – Analysts at Jefferies Financial Group upped their FY2022 earnings estimates for shares of Fulton Financial in a report issued on Monday, April 11th. Jefferies Financial Group analyst C. Haire now expects that the bank will post earnings per share of $1.59 for the year, up from their previous forecast of $1.46.

A number of other brokerages have also weighed in on FULT. StockNews.com started coverage on Fulton Financial in a report on Thursday, March 31st. They issued a “hold” rating on the stock. DA Davidson upped their price target on shares of Fulton Financial from $16.00 to $20.00 in a research report on Thursday, January 20th. Finally, Zacks Investment Research upgraded shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Friday, April 1st.

FULT opened at $16.02 on Wednesday. Fulton Financial has a 52 week low of $14.16 and a 52 week high of $19.17. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.25. The firm has a market cap of $2.57 billion, a P/E ratio of 9.83 and a beta of 0.73. The business has a fifty day simple moving average of $17.45 and a 200-day simple moving average of $17.08.

Fulton Financial (NASDAQ:FULTGet Rating) last posted its quarterly earnings results on Tuesday, January 18th. The bank reported $0.37 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. Fulton Financial had a return on equity of 11.06% and a net margin of 27.63%. The business had revenue of $232.68 million for the quarter, compared to the consensus estimate of $225.60 million. During the same quarter in the previous year, the business earned $0.30 EPS.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 18th. Stockholders of record on Friday, April 1st will be issued a dividend of $0.15 per share. This is an increase from Fulton Financial’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 3.75%. Fulton Financial’s payout ratio is presently 36.81%.

In other news, EVP Angela M. Sargent sold 10,823 shares of the company’s stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $17.20, for a total transaction of $186,155.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in FULT. Signaturefd LLC increased its position in Fulton Financial by 44.6% during the fourth quarter. Signaturefd LLC now owns 1,953 shares of the bank’s stock worth $33,000 after acquiring an additional 602 shares during the period. Neo Ivy Capital Management acquired a new stake in Fulton Financial during the 4th quarter worth approximately $45,000. SouthState Corp acquired a new stake in Fulton Financial during the 3rd quarter worth approximately $61,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Fulton Financial in the 4th quarter worth approximately $62,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Fulton Financial in the 4th quarter worth approximately $108,000. Institutional investors and hedge funds own 62.82% of the company’s stock.

About Fulton Financial (Get Rating)

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers secured consumer loans, including home equity loans and lines of credit, automobile loans, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial real estate, commercial and industrial, and construction loans, as well as equipment lease financing loans.

See Also

Earnings History and Estimates for Fulton Financial (NASDAQ:FULT)

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