Wall Street brokerages predict that Fulton Financial Co. (NASDAQ:FULT) will post $201.43 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Fulton Financial’s earnings. The lowest sales estimate is $198.92 million and the highest is $202.50 million. Fulton Financial posted sales of $184.25 million in the same quarter last year, which would indicate a positive year over year growth rate of 9.3%. The company is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, April 17th.
According to Zacks, analysts expect that Fulton Financial will report full-year sales of $843.34 million for the current financial year, with estimates ranging from $840.02 million to $845.70 million. For the next fiscal year, analysts anticipate that the firm will post sales of $899.54 million per share, with estimates ranging from $887.92 million to $911.74 million. Zacks’ sales averages are an average based on a survey of analysts that follow Fulton Financial.
Fulton Financial (NASDAQ:FULT) last announced its earnings results on Monday, January 22nd. The bank reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. Fulton Financial had a return on equity of 8.51% and a net margin of 19.59%. The firm had revenue of $206.37 million for the quarter, compared to analyst estimates of $201.30 million. During the same quarter last year, the firm posted $0.24 EPS. The business’s revenue was up 11.6% on a year-over-year basis.
A number of hedge funds have recently made changes to their positions in the business. Xact Kapitalforvaltning AB purchased a new position in Fulton Financial in the 4th quarter valued at $313,000. SevenBridge Financial Group LLC raised its holdings in shares of Fulton Financial by 72.8% during the 4th quarter. SevenBridge Financial Group LLC now owns 19,722 shares of the bank’s stock worth $353,000 after acquiring an additional 8,308 shares during the period. BRYN MAWR TRUST Co raised its holdings in shares of Fulton Financial by 8.3% during the 4th quarter. BRYN MAWR TRUST Co now owns 70,341 shares of the bank’s stock worth $1,259,000 after acquiring an additional 5,384 shares during the period. MetLife Investment Advisors LLC purchased a new position in shares of Fulton Financial during the 4th quarter worth $3,349,000. Finally, Glenmede Trust Co. NA raised its holdings in shares of Fulton Financial by 3.6% during the 4th quarter. Glenmede Trust Co. NA now owns 79,528 shares of the bank’s stock worth $1,423,000 after acquiring an additional 2,735 shares during the period. Institutional investors own 63.35% of the company’s stock.
Shares of NASDAQ:FULT traded down $0.15 during midday trading on Friday, reaching $17.50. 890,279 shares of the company’s stock traded hands, compared to its average volume of 983,301. Fulton Financial has a 1 year low of $16.45 and a 1 year high of $19.90. The firm has a market capitalization of $3,077.26, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 1.75 and a beta of 1.01. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.98.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Monday, April 2nd were issued a $0.12 dividend. The ex-dividend date was Thursday, March 29th. This represents a $0.48 dividend on an annualized basis and a yield of 2.74%. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.11. Fulton Financial’s dividend payout ratio (DPR) is presently 44.86%.
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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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