DA Davidson Research Analysts Boost Earnings Estimates for Fulton Financial Corp (FULT)

Fulton Financial Corp (NASDAQ:FULT) – Analysts at DA Davidson raised their FY2018 earnings per share estimates for shares of Fulton Financial in a research note issued on Wednesday, October 17th. DA Davidson analyst R. Gunther now anticipates that the bank will earn $1.19 per share for the year, up from their previous estimate of $1.13. DA Davidson also issued estimates for Fulton Financial’s Q4 2018 earnings at $0.34 EPS, Q2 2019 earnings at $0.33 EPS and Q1 2020 earnings at $0.32 EPS.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, October 16th. The bank reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.04. The firm had revenue of $214.23 million for the quarter, compared to analyst estimates of $209.72 million. Fulton Financial had a net margin of 20.45% and a return on equity of 8.89%. During the same period last year, the company posted $0.28 EPS.

FULT has been the topic of a number of other reports. Zacks Investment Research raised shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, August 29th. BidaskClub downgraded shares of Fulton Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 17th. Barclays upgraded shares of Fulton Financial from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $19.00 in a report on Wednesday, October 3rd. Boenning Scattergood restated a “hold” rating on shares of Fulton Financial in a report on Wednesday. Finally, Hovde Group set a $19.00 price target on shares of Fulton Financial and gave the stock a “hold” rating in a report on Monday, July 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Fulton Financial currently has an average rating of “Hold” and a consensus price target of $18.83.

Shares of Fulton Financial stock opened at $16.49 on Friday. The stock has a market capitalization of $2.98 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.85 and a beta of 1.05. Fulton Financial has a twelve month low of $15.05 and a twelve month high of $19.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.97 and a current ratio of 0.98.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.91%. Fulton Financial’s dividend payout ratio is currently 44.86%.

Several large investors have recently bought and sold shares of FULT. Raymond James & Associates purchased a new position in shares of Fulton Financial during the 2nd quarter worth approximately $180,000. Nomura Holdings Inc. purchased a new position in shares of Fulton Financial during the 2nd quarter worth approximately $219,000. Glen Harbor Capital Management LLC boosted its position in shares of Fulton Financial by 29.9% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 16,256 shares of the bank’s stock worth $268,000 after purchasing an additional 3,744 shares during the period. Riverhead Capital Management LLC boosted its position in shares of Fulton Financial by 29.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 17,960 shares of the bank’s stock worth $296,000 after purchasing an additional 4,100 shares during the period. Finally, Private Advisor Group LLC purchased a new position in shares of Fulton Financial during the 2nd quarter worth approximately $302,000. 62.82% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Company Profile

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.

Featured Story: Earnings Per Share (EPS)

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

Receive News & Ratings for Fulton Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fulton Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply