Fulton Financial Corporation Forecasted to Earn FY2019 Earnings of $1.27 Per Share (FULT)
Fulton Financial Corporation (NASDAQ:FULT) – Equities research analysts at Jefferies Group issued their FY2019 EPS estimates for shares of Fulton Financial Corporation in a research report issued to clients and investors on Monday. Jefferies Group analyst C. Haire expects that the bank will post earnings of $1.27 per share for the year. Jefferies Group has a “Hold” rating and a $20.00 price target on the stock.
Fulton Financial Corporation (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, July 18th. The bank reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $193.93 million during the quarter, compared to analysts’ expectations of $194.02 million. Fulton Financial Corporation had a return on equity of 8.02% and a net margin of 20.86%. During the same quarter in the previous year, the business earned $0.23 EPS.
Several other research analysts have also weighed in on the company. Keefe, Bruyette & Woods reissued a “hold” rating and set a $17.50 price target on shares of Fulton Financial Corporation in a research report on Tuesday, October 3rd. Zacks Investment Research raised Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Wednesday, September 20th. BidaskClub lowered Fulton Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. ValuEngine raised Fulton Financial Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Finally, Boenning Scattergood reissued a “hold” rating on shares of Fulton Financial Corporation in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.25.
Fulton Financial Corporation (NASDAQ:FULT) traded down 0.78% during mid-day trading on Tuesday, reaching $19.10. The company’s stock had a trading volume of 560,828 shares. Fulton Financial Corporation has a 1-year low of $14.04 and a 1-year high of $19.90. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 20.54 and a beta of 1.17. The firm has a 50-day moving average of $17.93 and a 200 day moving average of $18.11.
Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in Fulton Financial Corporation by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,861,134 shares of the bank’s stock worth $73,363,000 after purchasing an additional 95,105 shares during the last quarter. Russell Investments Group Ltd. increased its position in Fulton Financial Corporation by 54.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 324,346 shares of the bank’s stock worth $6,162,000 after purchasing an additional 114,256 shares during the last quarter. Two Sigma Securities LLC increased its position in Fulton Financial Corporation by 28.5% in the 1st quarter. Two Sigma Securities LLC now owns 43,555 shares of the bank’s stock worth $777,000 after purchasing an additional 9,662 shares during the last quarter. Jane Street Group LLC acquired a new position in Fulton Financial Corporation in the 1st quarter worth about $184,000. Finally, First Citizens Bank & Trust Co. acquired a new position in Fulton Financial Corporation in the 2nd quarter worth about $393,000. 62.99% of the stock is currently owned by institutional investors.
In other Fulton Financial Corporation news, Director R Scott Smith, Jr. sold 5,539 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $18.35, for a total value of $101,640.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael J. Deporter sold 1,500 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $18.00, for a total value of $27,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,348 shares of company stock worth $484,312. Insiders own 0.68% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 2nd will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, September 29th. Fulton Financial Corporation’s payout ratio is currently 44.44%.
Fulton Financial Corporation Company Profile
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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