Fulton Financial Corporation (FULT) Expected to Announce Quarterly Sales of $194.02 Million
Analysts forecast that Fulton Financial Corporation (NASDAQ:FULT) will post sales of $194.02 million for the current quarter, according to Zacks. Four analysts have issued estimates for Fulton Financial Corporation’s earnings, with the lowest sales estimate coming in at $191.60 million and the highest estimate coming in at $197.72 million. Fulton Financial Corporation posted sales of $175.05 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.8%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, July 18th.
On average, analysts expect that Fulton Financial Corporation will report full-year sales of $194.02 million for the current year, with estimates ranging from $770.00 million to $801.60 million. For the next fiscal year, analysts expect that the business will post sales of $843.72 million per share, with estimates ranging from $821.10 million to $868.53 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Fulton Financial Corporation.
Fulton Financial Corporation (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, April 18th. The bank reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $183.15 million during the quarter, compared to analysts’ expectations of $184.36 million. Fulton Financial Corporation had a net margin of 20.69% and a return on equity of 7.84%. Fulton Financial Corporation’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 earnings per share.
FULT has been the subject of several analyst reports. Keefe, Bruyette & Woods set a $17.00 target price on shares of Fulton Financial Corporation and gave the stock a “hold” rating in a report on Monday, April 10th. Jefferies Group LLC reissued a “hold” rating and issued a $20.00 target price on shares of Fulton Financial Corporation in a report on Monday, May 15th. BidaskClub raised shares of Fulton Financial Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Stephens initiated coverage on shares of Fulton Financial Corporation in a report on Thursday. They issued an “equal weight” rating for the company. Finally, ValuEngine raised shares of Fulton Financial Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $18.50.
Fulton Financial Corporation (FULT) opened at 18.90 on Friday. The company’s 50-day moving average is $18.23 and its 200 day moving average is $18.42. Fulton Financial Corporation has a 52 week low of $12.91 and a 52 week high of $19.90. The stock has a market cap of $3.30 billion, a PE ratio of 19.69 and a beta of 1.17.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, July 3rd were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, June 29th. Fulton Financial Corporation’s dividend payout ratio (DPR) is presently 45.83%.
In related news, EVP Meg R. Mueller sold 3,266 shares of the firm’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $18.90, for a total value of $61,727.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.68% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of FULT. NN Investment Partners Holdings N.V. raised its position in Fulton Financial Corporation by 8.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 68,890 shares of the bank’s stock worth $1,309,000 after buying an additional 5,220 shares during the period. UBS Oconnor LLC acquired a new position in Fulton Financial Corporation during the first quarter worth $446,000. HighTower Advisors LLC raised its position in Fulton Financial Corporation by 2.5% in the first quarter. HighTower Advisors LLC now owns 13,707 shares of the bank’s stock worth $244,000 after buying an additional 329 shares during the period. Jane Street Group LLC acquired a new position in Fulton Financial Corporation during the first quarter worth $184,000. Finally, Paloma Partners Management Co acquired a new position in Fulton Financial Corporation during the first quarter worth $878,000. 61.91% of the stock is owned by hedge funds and other institutional investors.
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Fulton Financial Corporation Company Profile
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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