Fulton Financial (FULT) to Release Earnings on Tuesday

Posted by Defense World Staff on Apr 11th, 2023

Fulton Financial (NASDAQ:FULT – Get Rating) is set to issue its quarterly earnings data after the market closes on Tuesday, April 18th. Analysts expect the company to announce earnings of $0.48 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Fulton Financial (NASDAQ:FULT – Get Rating) last announced its earnings results on Tuesday, January 17th. The bank reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The business had revenue of $284.54 million during the quarter, compared to analysts’ expectations of $285.36 million. Fulton Financial had a net margin of 26.28% and a return on equity of 12.92%. On average, analysts expect Fulton Financial to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fulton Financial Stock Up 0.5 %

Shares of Fulton Financial stock opened at $13.56 on Tuesday. Fulton Financial has a one year low of $13.16 and a one year high of $18.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a fifty day moving average of $15.81 and a two-hundred day moving average of $16.70. The company has a market cap of $2.25 billion, a P/E ratio of 8.12 and a beta of 0.77.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Monday, April 3rd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Friday, March 31st. Fulton Financial’s dividend payout ratio (DPR) is 35.93%.

Analyst Upgrades and Downgrades

FULT has been the topic of several research reports. StockNews.com assumed coverage on shares of Fulton Financial in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. DA Davidson dropped their price objective on shares of Fulton Financial from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, January 19th. Keefe, Bruyette & Woods cut their target price on Fulton Financial from $20.00 to $16.00 and set a “market perform” rating on the stock in a research report on Thursday, April 6th. Finally, Janney Montgomery Scott assumed coverage on shares of Fulton Financial in a research report on Tuesday, January 10th. They set a “neutral” rating and a $19.50 price target on the stock. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.83.

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director George K. Martin bought 2,910 shares of Fulton Financial stock in a transaction that occurred on Tuesday, February 7th. The stock was purchased at an average cost of $17.16 per share, for a total transaction of $49,935.60. Following the completion of the acquisition, the director now owns 8,870 shares of the company’s stock, valued at approximately $152,209.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Fulton Financial news, EVP Meg R. Mueller sold 9,952 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $15.71, for a total value of $156,345.92. Following the sale, the executive vice president now owns 82,650 shares of the company’s stock, valued at approximately $1,298,431.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George K. Martin purchased 2,910 shares of the business’s stock in a transaction on Tuesday, February 7th. The stock was purchased at an average cost of $17.16 per share, with a total value of $49,935.60. Following the acquisition, the director now owns 8,870 shares in the company, valued at $152,209.20. The disclosure for this purchase can be found here. Company insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Fulton Financial

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Fulton Financial in the 4th quarter valued at approximately $29,379,000. BlackRock Inc. raised its holdings in Fulton Financial by 6.0% in the 1st quarter. BlackRock Inc. now owns 21,821,468 shares of the bank’s stock valued at $362,670,000 after acquiring an additional 1,232,379 shares during the period. Millennium Management LLC lifted its holdings in shares of Fulton Financial by 108.4% during the fourth quarter. Millennium Management LLC now owns 2,285,030 shares of the bank’s stock worth $38,457,000 after buying an additional 1,188,745 shares in the last quarter. Vanguard Group Inc. raised its holdings in Fulton Financial by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 17,117,537 shares of the bank’s stock valued at $270,457,000 after acquiring an additional 1,149,047 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Fulton Financial by 8.9% during the 1st quarter. State Street Corp now owns 8,941,860 shares of the bank’s stock worth $149,945,000 after acquiring an additional 731,995 shares in the last quarter. Institutional investors own 64.84% of the company’s stock.

Fulton Financial Company Profile

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Fulton Financial Corp. is financial holding company, which through its subsidiaries, engages in the provision of consumer and commercial banking products and services. It offers checking account and savings deposit products, certificates of deposit and individual retirement accounts. The company also offers investment management, trust, brokerage, insurance and investment advisory services to consumer and commercial banking customers in the market areas serviced by the subsidiary banks.