Fulton Financial Co. (NASDAQ:FULT – Free Report) – Equities research analysts at DA Davidson lowered their Q2 2024 earnings per share (EPS) estimates for shares of Fulton Financial in a report released on Thursday, June 27th. DA Davidson analyst M. Navas now expects that the bank will post earnings of $0.13 per share for the quarter, down from their prior forecast of $0.14. DA Davidson currently has a “Neutral” rating and a $18.00 target price on the stock. The consensus estimate for Fulton Financial’s current full-year earnings is $1.55 per share. DA Davidson also issued estimates for Fulton Financial’s FY2025 earnings at $1.75 EPS.
Fulton Financial (NASDAQ:FULT – Get Free Report) last released its earnings results on Tuesday, April 16th. The bank reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Fulton Financial had a net margin of 18.31% and a return on equity of 11.73%. The firm had revenue of $230.36 million for the quarter, compared to analysts’ expectations of $268.90 million.
Get Our Latest Analysis on Fulton Financial
Fulton Financial Trading Down 1.2 %
NASDAQ:FULT opened at $16.77 on Monday. The firm’s 50 day moving average is $16.60 and its 200 day moving average is $15.99. Fulton Financial has a 12 month low of $11.47 and a 12 month high of $17.68. The stock has a market capitalization of $3.05 billion, a PE ratio of 10.42 and a beta of 0.75. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35.
Fulton Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.68 annualized dividend and a dividend yield of 4.05%. Fulton Financial’s payout ratio is currently 42.24%.
Institutional Trading of Fulton Financial
Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Fulton Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock worth $320,061,000 after purchasing an additional 216,465 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Fulton Financial by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock worth $196,188,000 after buying an additional 297,923 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Fulton Financial by 36.0% during the 4th quarter. Hsbc Holdings PLC now owns 2,593,793 shares of the bank’s stock worth $43,043,000 after acquiring an additional 686,269 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Fulton Financial by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,062,343 shares of the bank’s stock worth $33,946,000 after acquiring an additional 100,902 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Fulton Financial by 0.4% in the third quarter. Northern Trust Corp now owns 1,879,238 shares of the bank’s stock valued at $22,758,000 after acquiring an additional 8,292 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.
Fulton Financial Company Profile
Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.
See Also
- Five stocks we like better than Fulton Financial
- The 3 Best Blue-Chip Stocks to Buy Now
- These Top 3 Banks Raise Dividends After Passing Fed Stress Test
- Russell 2000 Index, How Investors Use it For Profitable Trading
- Hitch a Ride with Lyft Stock for Double-Digit Gains in 2nd Half
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Eli Lilly Stock Up: GLP-1 Zepbound Targets Sleep Apnea Market
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.