Fulton Financial Corp (FULT) Expected to Announce Quarterly Sales of $203.47 Million

Brokerages expect Fulton Financial Corp (NASDAQ:FULT) to announce sales of $203.47 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Fulton Financial’s earnings, with the lowest sales estimate coming in at $202.30 million and the highest estimate coming in at $205.70 million. Fulton Financial posted sales of $184.25 million in the same quarter last year, which would indicate a positive year over year growth rate of 10.4%. The company is scheduled to report its next quarterly earnings report on Tuesday, April 17th.

According to Zacks, analysts expect that Fulton Financial will report full-year sales of $203.47 million for the current financial year, with estimates ranging from $841.40 million to $845.63 million. For the next fiscal year, analysts expect that the business will report sales of $896.91 million per share, with estimates ranging from $886.80 million to $911.74 million. Zacks’ sales averages are an average based on a survey of research firms that cover Fulton Financial.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Monday, January 22nd. The bank reported $0.28 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. Fulton Financial had a return on equity of 8.51% and a net margin of 19.59%. The firm had revenue of $206.37 million for the quarter, compared to the consensus estimate of $201.30 million. During the same period in the prior year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year.

Several equities analysts recently weighed in on FULT shares. BidaskClub downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 9th. Barclays increased their target price on Fulton Financial from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. Piper Jaffray Companies reiterated a “hold” rating and set a $18.00 target price on shares of Fulton Financial in a research report on Thursday, October 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $17.00 target price on shares of Fulton Financial in a research report on Thursday, October 19th. Finally, Zacks Investment Research upgraded Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $18.80.

Fulton Financial (NASDAQ:FULT) opened at $18.25 on Monday. Fulton Financial has a 12-month low of $16.45 and a 12-month high of $19.90. The firm has a market capitalization of $3,190.00, a PE ratio of 18.62 and a beta of 1.05. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.98 and a current ratio of 0.98.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were paid a dividend of $0.11 per share. The ex-dividend date was Friday, December 29th. This represents a $0.44 annualized dividend and a yield of 2.41%. Fulton Financial’s dividend payout ratio is presently 44.90%.

A number of large investors have recently made changes to their positions in the business. Quadrant Private Wealth Management LLC acquired a new stake in Fulton Financial during the fourth quarter worth about $329,000. Aperio Group LLC increased its stake in Fulton Financial by 10.0% during the fourth quarter. Aperio Group LLC now owns 55,630 shares of the bank’s stock worth $996,000 after acquiring an additional 5,059 shares during the last quarter. Comerica Bank increased its stake in Fulton Financial by 16.1% during the fourth quarter. Comerica Bank now owns 247,723 shares of the bank’s stock worth $4,496,000 after acquiring an additional 34,402 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Fulton Financial by 3.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 740,898 shares of the bank’s stock worth $13,262,000 after acquiring an additional 24,297 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Fulton Financial by 46.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,306 shares of the bank’s stock worth $202,000 after acquiring an additional 3,585 shares during the last quarter. Institutional investors own 62.83% of the company’s stock.

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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).

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

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