$205.68 Million in Sales Expected for Fulton Financial Corp (FULT) This Quarter

Equities research analysts expect Fulton Financial Corp (NASDAQ:FULT) to report sales of $205.68 million for the current quarter, according to Zacks. Three analysts have provided estimates for Fulton Financial’s earnings, with the highest sales estimate coming in at $209.15 million and the lowest estimate coming in at $203.10 million. Fulton Financial posted sales of $184.99 million in the same quarter last year, which would indicate a positive year over year growth rate of 11.2%. The firm is scheduled to report its next earnings report after the market closes on Monday, January 22nd.

According to Zacks, analysts expect that Fulton Financial will report full year sales of $205.68 million for the current fiscal year, with estimates ranging from $780.10 million to $803.48 million. For the next financial year, analysts forecast that the business will report sales of $854.22 million per share, with estimates ranging from $843.00 million to $869.56 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Fulton Financial.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, October 17th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $194.19 million for the quarter, compared to analysts’ expectations of $200.00 million. Fulton Financial had a return on equity of 8.28% and a net margin of 21.15%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $0.24 earnings per share.

FULT has been the topic of several analyst reports. BidaskClub cut Fulton Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 9th. Piper Jaffray Companies reiterated a “hold” rating and issued a $18.00 price objective on shares of Fulton Financial in a research note on Thursday, October 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $17.00 price objective on shares of Fulton Financial in a research note on Thursday, October 19th. Barclays increased their price objective on Fulton Financial from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. Finally, Zacks Investment Research upgraded 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, January 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $18.80.

Institutional investors have recently bought and sold shares of the business. Advisor Group Inc. raised its stake in Fulton Financial by 5.3% in the second quarter. Advisor Group Inc. now owns 8,336 shares of the bank’s stock valued at $158,000 after buying an additional 417 shares in the last quarter. Riverhead Capital Management LLC raised its stake in Fulton Financial by 56.0% in the second quarter. Riverhead Capital Management LLC now owns 9,985 shares of the bank’s stock valued at $190,000 after buying an additional 3,585 shares in the last quarter. FDx Advisors Inc. acquired a new stake in Fulton Financial in the third quarter valued at $192,000. C M Bidwell & Associates Ltd. increased its position in shares of Fulton Financial by 121.1% during the second quarter. C M Bidwell & Associates Ltd. now owns 10,755 shares of the bank’s stock worth $204,000 after purchasing an additional 5,890 shares in the last quarter. Finally, Adviser Investments LLC acquired a new stake in shares of Fulton Financial during the third quarter worth about $220,000. Institutional investors own 62.73% of the company’s stock.

Shares of Fulton Financial (NASDAQ:FULT) traded down $0.25 during midday trading on Friday, hitting $18.30. The stock had a trading volume of 773,700 shares, compared to its average volume of 829,258. The firm has a market capitalization of $3,248.51, a PE ratio of 17.77 and a beta of 1.17. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.98 and a current ratio of 0.98. Fulton Financial has a twelve month low of $16.45 and a twelve month high of $19.90.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Friday, December 29th. Fulton Financial’s dividend payout ratio is presently 42.72%.

COPYRIGHT VIOLATION WARNING: “$205.68 Million in Sales Expected for Fulton Financial Corp (FULT) This Quarter” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/19/205-68-million-in-sales-expected-for-fulton-financial-corp-fult-this-quarter.html.

About Fulton Financial

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).

Get a free copy of the Zacks research report on Fulton Financial (FULT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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