Fulton Financial (FULT) Announces Quarterly Earnings Results

Fulton Financial (NASDAQ:FULT) posted its earnings results on Tuesday. The bank reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33, Briefing.com reports. Fulton Financial had a net margin of 22.66% and a return on equity of 9.25%. The company had revenue of $210.00 million for the quarter, compared to analyst estimates of $212.93 million. During the same period in the previous year, the business posted $0.28 EPS. Fulton Financial’s revenue was up 6.5% on a year-over-year basis.

NASDAQ FULT opened at $16.64 on Wednesday. Fulton Financial has a 52 week low of $14.38 and a 52 week high of $18.45. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $2.76 billion, a PE ratio of 14.10, a PEG ratio of 1.45 and a beta of 0.98.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.13%. This is a boost from Fulton Financial’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, March 29th. Fulton Financial’s payout ratio is 44.07%.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Fulton Financial by 2.5% in the fourth quarter. BlackRock Inc. now owns 20,809,031 shares of the bank’s stock worth $322,124,000 after purchasing an additional 504,144 shares during the period. Vanguard Group Inc boosted its position in Fulton Financial by 1.4% during the third quarter. Vanguard Group Inc now owns 16,447,070 shares of the bank’s stock worth $273,843,000 after purchasing an additional 231,791 shares during the period. Vanguard Group Inc. boosted its position in shares of Fulton Financial by 1.4% in the third quarter. Vanguard Group Inc. now owns 16,447,070 shares of the bank’s stock valued at $273,843,000 after acquiring an additional 231,791 shares during the period. Northern Trust Corp boosted its position in shares of Fulton Financial by 0.4% in the fourth quarter. Northern Trust Corp now owns 4,288,367 shares of the bank’s stock valued at $66,384,000 after acquiring an additional 17,688 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Fulton Financial by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 2,356,948 shares of the bank’s stock valued at $36,485,000 after acquiring an additional 108,936 shares during the period. Institutional investors and hedge funds own 66.79% of the company’s stock.

Several equities analysts have recently commented on FULT shares. Barclays restated a “buy” rating and issued a $21.00 price objective on shares of Fulton Financial in a report on Friday, January 11th. BidaskClub raised shares of Fulton Financial from a “hold” rating to a “buy” rating in a research note on Saturday, January 5th. Zacks Investment Research raised shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Friday, April 5th. Boenning Scattergood reaffirmed a “hold” rating on shares of Fulton Financial in a research note on Wednesday, January 16th. Finally, Piper Jaffray Companies downgraded shares of Fulton Financial from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $19.00 to $17.50 in a research note on Thursday, January 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.90.

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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.

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Earnings History for Fulton Financial (NASDAQ:FULT)

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