Equities research analysts expect Fulton Financial Corp (NASDAQ:FULT) to announce sales of $211.50 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Fulton Financial’s earnings. The lowest sales estimate is $210.60 million and the highest is $212.00 million. Fulton Financial reported sales of $213.32 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.9%. The company is expected to announce its next quarterly earnings report on Tuesday, April 21st.
On average, analysts expect that Fulton Financial will report full-year sales of $863.93 million for the current fiscal year, with estimates ranging from $854.00 million to $875.80 million. For the next fiscal year, analysts expect that the business will report sales of $889.27 million, with estimates ranging from $869.00 million to $902.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Fulton Financial.
Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, January 21st. The bank reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Fulton Financial had a net margin of 22.34% and a return on equity of 10.03%. The firm had revenue of $217.76 million for the quarter, compared to analyst estimates of $216.83 million. During the same period in the previous year, the company earned $0.33 EPS.
In related news, Director Ernest J. Waters purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average price of $13.22 per share, with a total value of $26,440.00. Following the completion of the acquisition, the director now directly owns 30,468 shares in the company, valued at approximately $402,786.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.02% of the company’s stock.
Several hedge funds have recently bought and sold shares of FULT. Norges Bank acquired a new stake in shares of Fulton Financial during the 4th quarter valued at approximately $31,289,000. Janus Henderson Group PLC grew its stake in shares of Fulton Financial by 33.1% during the 4th quarter. Janus Henderson Group PLC now owns 3,486,474 shares of the bank’s stock valued at $60,769,000 after buying an additional 867,837 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Fulton Financial by 9.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,293,167 shares of the bank’s stock valued at $39,971,000 after buying an additional 190,304 shares during the period. State of Tennessee Treasury Department purchased a new stake in Fulton Financial during the 4th quarter worth $2,993,000. Finally, Barclays PLC boosted its position in Fulton Financial by 134.5% during the 4th quarter. Barclays PLC now owns 261,874 shares of the bank’s stock worth $4,564,000 after purchasing an additional 150,213 shares during the period. Institutional investors own 67.38% of the company’s stock.
Shares of Fulton Financial stock traded up $0.08 during mid-day trading on Tuesday, reaching $10.91. 1,433,701 shares of the stock traded hands, compared to its average volume of 1,213,625. The business has a 50-day moving average of $13.27 and a 200 day moving average of $16.06. Fulton Financial has a fifty-two week low of $9.83 and a fifty-two week high of $18.00. The stock has a market capitalization of $1.64 billion, a PE ratio of 7.91 and a beta of 1.13. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.38.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Tuesday, March 31st. Fulton Financial’s dividend payout ratio is presently 37.41%.
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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