Equities analysts expect that Fulton Financial Corp (NASDAQ:FULT) will post $212.66 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Fulton Financial’s earnings. The lowest sales estimate is $209.80 million and the highest is $216.35 million. Fulton Financial reported sales of $162.74 million in the same quarter last year, which indicates a positive year over year growth rate of 30.7%. The company is scheduled to report its next quarterly earnings report after the market closes on Tuesday, April 16th.
On average, analysts expect that Fulton Financial will report full-year sales of $877.59 million for the current year, with estimates ranging from $860.00 million to $897.23 million. For the next year, analysts forecast that the firm will post sales of $907.36 million, with estimates ranging from $878.60 million to $940.61 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Fulton Financial.
Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, January 15th. The bank reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). Fulton Financial had a net margin of 22.66% and a return on equity of 9.25%. The company had revenue of $215.65 million during the quarter, compared to the consensus estimate of $215.11 million. During the same quarter in the previous year, the firm posted $0.28 EPS.
FULT stock traded up $0.18 during midday trading on Monday, hitting $16.23. The company had a trading volume of 36,573 shares, compared to its average volume of 1,099,141. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.96 and a current ratio of 0.96. Fulton Financial has a 52 week low of $14.38 and a 52 week high of $18.45. The company has a market capitalization of $2.74 billion, a P/E ratio of 13.73, a PEG ratio of 1.42 and a beta of 0.98.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.20%. This is a boost from Fulton Financial’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, March 29th. Fulton Financial’s dividend payout ratio is presently 44.07%.
Hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank purchased a new stake in Fulton Financial in the fourth quarter worth $39,000. Oregon Public Employees Retirement Fund grew its stake in Fulton Financial by 1,448.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,071,618 shares of the bank’s stock worth $69,000 after purchasing an additional 1,002,392 shares during the period. ETF Managers Group LLC grew its stake in Fulton Financial by 18.1% in the fourth quarter. ETF Managers Group LLC now owns 7,494 shares of the bank’s stock worth $116,000 after purchasing an additional 1,148 shares during the period. Bessemer Group Inc. purchased a new stake in Fulton Financial in the fourth quarter worth $121,000. Finally, Tower Research Capital LLC TRC grew its stake in Fulton Financial by 223.8% in the third quarter. Tower Research Capital LLC TRC now owns 7,502 shares of the bank’s stock worth $125,000 after purchasing an additional 5,185 shares during the period. 66.98% of the stock is currently owned by institutional investors.
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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