Analysts Set Expectations for Fulton Financial Co.’s Q2 2024 Earnings (NASDAQ:FULT)

Fulton Financial Co. (NASDAQ:FULT) – Research analysts at DA Davidson issued their Q2 2024 EPS estimates for Fulton Financial in a note issued to investors on Friday, April 19th. DA Davidson analyst M. Navas anticipates that the bank will earn $0.38 per share for the quarter. The consensus estimate for Fulton Financial’s current full-year earnings is $1.55 per share.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group decreased their price target on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Keefe, Bruyette & Woods raised their target price on shares of Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a research note on Thursday, January 18th. Stephens decreased their target price on shares of Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating for the company in a research note on Thursday, April 18th. Finally, StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Fulton Financial currently has an average rating of “Hold” and an average price target of $16.17.

Fulton Financial Price Performance

FULT stock opened at $15.34 on Monday. Fulton Financial has a 1 year low of $9.64 and a 1 year high of $17.06. The company has a market cap of $2.49 billion, a P/E ratio of 9.53 and a beta of 0.81. The firm has a 50-day moving average of $15.31 and a 200 day moving average of $14.98. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90.

Institutional Investors Weigh In On Fulton Financial

A number of institutional investors have recently made changes to their positions in the company. New Mexico Educational Retirement Board purchased a new stake in shares of Fulton Financial during the first quarter valued at approximately $560,000. Vanguard Group Inc. grew its holdings in shares of Fulton Financial by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock valued at $320,061,000 after buying an additional 216,465 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of Fulton Financial during the fourth quarter valued at approximately $38,000. Rafferty Asset Management LLC grew its holdings in shares of Fulton Financial by 53.7% during the fourth quarter. Rafferty Asset Management LLC now owns 270,480 shares of the bank’s stock valued at $4,452,000 after buying an additional 94,538 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Fulton Financial by 62.2% during the fourth quarter. CIBC Asset Management Inc now owns 16,490 shares of the bank’s stock valued at $271,000 after buying an additional 6,322 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Thursday, March 28th. Fulton Financial’s payout ratio is 42.24%.

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.