Q2 2024 Earnings Estimate for Fulton Financial Co. Issued By DA Davidson (NASDAQ:FULT)

Fulton Financial Co. (NASDAQ:FULT) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Fulton Financial in a report released on Friday, April 19th. DA Davidson analyst M. Navas anticipates that the bank will post earnings per share of $0.38 for the quarter. The consensus estimate for Fulton Financial’s current full-year earnings is $1.55 per share.

A number of other research firms have also recently issued reports on FULT. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Stephens decreased their target price on Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating on the stock in a research report on Thursday. Jefferies Financial Group decreased their target price on Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods lifted their target price on Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a research report on Thursday, January 18th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, Fulton Financial has an average rating of “Hold” and a consensus target price of $16.17.

Fulton Financial Stock Up 3.9 %

Shares of NASDAQ FULT opened at $14.99 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.95 and a current ratio of 0.90. Fulton Financial has a 52 week low of $9.64 and a 52 week high of $17.06. The stock has a market capitalization of $2.43 billion, a P/E ratio of 9.31 and a beta of 0.81. The stock’s fifty day moving average is $15.30 and its 200 day moving average is $14.94.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date was Thursday, March 28th. Fulton Financial’s payout ratio is 42.24%.

Institutional Trading of Fulton Financial

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Fulton Financial by 6.0% during the first quarter. BlackRock Inc. now owns 21,821,468 shares of the bank’s stock valued at $362,670,000 after purchasing an additional 1,232,379 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Fulton Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock worth $320,061,000 after acquiring an additional 216,465 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Fulton Financial by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock worth $196,188,000 after acquiring an additional 297,923 shares during the period. State Street Corp lifted its stake in shares of Fulton Financial by 8.9% in the first quarter. State Street Corp now owns 8,941,860 shares of the bank’s stock worth $149,945,000 after acquiring an additional 731,995 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Fulton Financial by 1.8% in the second quarter. Geode Capital Management LLC now owns 3,375,026 shares of the bank’s stock worth $40,230,000 after acquiring an additional 59,775 shares during the period. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.