Fulton Financial Co. (NASDAQ:FULT – Get Rating) – Research analysts at Boenning Scattergood decreased their Q2 2022 earnings per share (EPS) estimates for shares of Fulton Financial in a report issued on Wednesday, April 20th. Boenning Scattergood analyst E. Zwick now expects that the bank will post earnings of $0.34 per share for the quarter, down from their previous estimate of $0.35. Boenning Scattergood also issued estimates for Fulton Financial’s Q3 2022 earnings at $0.41 EPS, Q4 2022 earnings at $0.37 EPS, FY2022 earnings at $1.50 EPS and FY2023 earnings at $1.65 EPS.
A number of other research analysts also recently issued reports on the stock. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating and set a $20.50 price target for the company in a research note on Thursday. StockNews.com started coverage on shares of Fulton Financial in a research note on Thursday, March 31st. They issued a “hold” rating for the company. DA Davidson lifted their price target on shares of Fulton Financial from $16.00 to $20.00 in a research note on Thursday, January 20th. Finally, Zacks Investment Research raised 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.
Fulton Financial (NASDAQ:FULT – Get Rating) last posted its quarterly earnings data on Tuesday, April 19th. The bank reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.06. Fulton Financial had a net margin of 27.63% and a return on equity of 11.06%. During the same period last year, the business earned $0.43 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Friday, April 1st were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.58%. This is a boost from Fulton Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, March 31st. Fulton Financial’s payout ratio is presently 36.81%.
In other news, EVP Angela M. Sargent sold 10,823 shares of Fulton Financial stock in a transaction on Friday, March 4th. The shares were sold at an average price of $17.20, for a total value of $186,155.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in FULT. Comerica Bank increased its holdings in shares of Fulton Financial by 0.8% in the 4th quarter. Comerica Bank now owns 74,585 shares of the bank’s stock valued at $1,358,000 after purchasing an additional 565 shares in the last quarter. Eaton Vance Management increased its holdings in shares of Fulton Financial by 1.1% in the 4th quarter. Eaton Vance Management now owns 53,233 shares of the bank’s stock valued at $776,000 after purchasing an additional 584 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Fulton Financial by 44.6% in the 4th quarter. Signaturefd LLC now owns 1,953 shares of the bank’s stock valued at $33,000 after purchasing an additional 602 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Fulton Financial by 2.1% in the 4th quarter. Private Advisor Group LLC now owns 30,372 shares of the bank’s stock valued at $516,000 after purchasing an additional 622 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in shares of Fulton Financial by 1.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 51,174 shares of the bank’s stock valued at $874,000 after purchasing an additional 786 shares in the last quarter. Institutional investors own 62.82% of the company’s stock.
Fulton Financial Company Profile (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.
- Get a free copy of the StockNews.com research report on Fulton Financial (FULT)
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