Wall Street brokerages expect Fulton Financial Corp (NASDAQ:FULT) to post sales of $217.85 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Fulton Financial’s earnings, with the lowest sales estimate coming in at $214.20 million and the highest estimate coming in at $221.00 million. Fulton Financial reported sales of $208.12 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The business is scheduled to announce its next quarterly earnings report on Tuesday, July 16th.
According to Zacks, analysts expect that Fulton Financial will report full year sales of $872.86 million for the current year, with estimates ranging from $857.60 million to $886.35 million. For the next financial year, analysts anticipate that the company will report sales of $897.47 million, with estimates ranging from $871.00 million to $921.41 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 released its quarterly earnings data on Tuesday, April 16th. The bank reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. The firm had revenue of $210.00 million for the quarter, compared to analyst estimates of $212.93 million. Fulton Financial had a net margin of 21.95% and a return on equity of 9.50%. Fulton Financial’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share.
In other Fulton Financial news, COO Curtis J. Myers sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $17.03, for a total value of $110,695.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David M. Campbell sold 5,160 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $17.00, for a total transaction of $87,720.00. Following the completion of the sale, the insider now owns 7,283 shares in the company, valued at approximately $123,811. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank acquired a new position in shares of Fulton Financial during the fourth quarter valued at approximately $39,000. Oregon Public Employees Retirement Fund increased its stake in shares of Fulton Financial by 1,448.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,071,618 shares of the bank’s stock valued at $69,000 after acquiring an additional 1,002,392 shares during the period. Hudock Capital Group LLC increased its stake in shares of Fulton Financial by 99.8% during the first quarter. Hudock Capital Group LLC now owns 4,855 shares of the bank’s stock valued at $75,000 after acquiring an additional 2,425 shares during the period. Pearl River Capital LLC acquired a new position in shares of Fulton Financial during the first quarter valued at approximately $112,000. Finally, ETF Managers Group LLC increased its stake in shares of Fulton Financial by 18.1% during the fourth quarter. ETF Managers Group LLC now owns 7,494 shares of the bank’s stock valued at $116,000 after acquiring an additional 1,148 shares during the period. Institutional investors and hedge funds own 65.04% of the company’s stock.
FULT traded up $0.08 on Friday, hitting $16.83. 937,300 shares of the company’s stock were exchanged, compared to its average volume of 1,058,751. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 1.51 and a beta of 1.02. Fulton Financial has a twelve month low of $14.38 and a twelve month high of $18.45. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.46.
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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