Wall Street brokerages forecast that Fulton Financial Co. (NASDAQ:FULT – Get Rating) will announce $226.30 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Fulton Financial’s earnings, with the highest sales estimate coming in at $229.80 million and the lowest estimate coming in at $222.10 million. Fulton Financial reported sales of $217.31 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.1%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Fulton Financial will report full year sales of $930.70 million for the current year, with estimates ranging from $918.10 million to $943.00 million. For the next year, analysts expect that the firm will post sales of $1.03 billion, with estimates ranging from $1.01 billion to $1.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Fulton Financial.
Fulton Financial (NASDAQ:FULT – Get Rating) last announced its earnings results on Tuesday, April 19th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. The company had revenue of $219.85 million during the quarter, compared to analysts’ expectations of $221.61 million. Fulton Financial had a net margin of 28.22% and a return on equity of 10.77%. During the same quarter in the previous year, the business posted $0.43 earnings per share.
Shares of FULT opened at $15.56 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.50 billion, a P/E ratio of 9.85 and a beta of 0.74. The company has a 50-day moving average of $16.07 and a two-hundred day moving average of $16.95. Fulton Financial has a 12-month low of $14.16 and a 12-month high of $19.17.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Friday, April 1st were issued a $0.15 dividend. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $0.60 annualized dividend and a yield of 3.86%. Fulton Financial’s dividend payout ratio (DPR) is presently 37.97%.
In other Fulton Financial news, EVP David M. Campbell sold 5,156 shares of the business’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $15.51, for a total value of $79,969.56. Following the transaction, the executive vice president now owns 22,202 shares in the company, valued at approximately $344,353.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Angela M. Sargent sold 10,823 shares of Fulton Financial stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $17.20, for a total value of $186,155.60. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC acquired a new stake in shares of Fulton Financial in the 1st quarter valued at about $234,000. Walleye Capital LLC bought a new position in Fulton Financial during the first quarter worth $5,754,000. Jane Street Group LLC bought a new position in shares of Fulton Financial in the 1st quarter worth about $304,000. Point72 Hong Kong Ltd boosted its holdings in shares of Fulton Financial by 11.7% in the 1st quarter. Point72 Hong Kong Ltd now owns 7,082 shares of the bank’s stock valued at $118,000 after buying an additional 742 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Fulton Financial during the first quarter worth about $1,062,000. 64.05% of the stock is currently owned by hedge funds and other institutional investors.
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.
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