Brokerages expect Fulton Financial Corp (NASDAQ:FULT) to post $217.70 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Fulton Financial’s earnings. The highest sales estimate is $218.00 million and the lowest is $217.50 million. Fulton Financial reported sales of $215.65 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1%. The firm is scheduled to announce its next earnings results on Tuesday, January 21st.
On average, analysts expect that Fulton Financial will report full year sales of $877.52 million for the current year, with estimates ranging from $877.20 million to $878.00 million. For the next year, analysts expect that the firm will report sales of $872.87 million, with estimates ranging from $862.10 million to $881.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Fulton Financial.
Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The business had revenue of $221.07 million during the quarter, compared to analysts’ expectations of $222.21 million. Fulton Financial had a return on equity of 10.31% and a net margin of 22.88%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS.
In other news, EVP David M. Campbell bought 5,900 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $16.89 per share, with a total value of $99,651.00. Also, EVP Daniel R. Stolzer sold 6,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $17.59, for a total value of $105,540.00. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in shares of Fulton Financial by 0.3% in the 2nd quarter. Royal Bank of Canada now owns 247,970 shares of the bank’s stock valued at $4,061,000 after purchasing an additional 863 shares during the period. Smith Graham & Co. Investment Advisors LP boosted its position in shares of Fulton Financial by 0.3% in the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 335,510 shares of the bank’s stock valued at $5,429,000 after purchasing an additional 1,080 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Fulton Financial by 7.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 18,551 shares of the bank’s stock valued at $304,000 after purchasing an additional 1,314 shares during the period. BBVA USA Bancshares Inc. lifted its position in Fulton Financial by 5.1% during the 3rd quarter. BBVA USA Bancshares Inc. now owns 27,100 shares of the bank’s stock worth $438,000 after acquiring an additional 1,315 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new stake in Fulton Financial during the 2nd quarter worth approximately $25,000. 64.95% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:FULT remained flat at $$17.54 on Tuesday. The stock had a trading volume of 1,076,469 shares, compared to its average volume of 747,771. The stock’s fifty day moving average is $17.39 and its 200-day moving average is $16.61. The stock has a market capitalization of $2.88 billion, a P/E ratio of 12.71 and a beta of 1.02. Fulton Financial has a twelve month low of $14.85 and a twelve month high of $18.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.95 and a quick ratio of 0.94.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.13 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.96%. Fulton Financial’s dividend payout ratio (DPR) is presently 44.07%.
About Fulton Financial
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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