Fulton Financial (NASDAQ:FULT) issued its quarterly earnings data on Tuesday. The bank reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01, Briefing.com reports. The company had revenue of $221.94 million for the quarter, compared to analyst estimates of $218.51 million. Fulton Financial had a net margin of 23.75% and a return on equity of 10.51%. Fulton Financial’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $0.20 earnings per share.
NASDAQ FULT opened at $16.73 on Friday. The business has a fifty day moving average price of $16.17. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.43. Fulton Financial has a 12-month low of $14.38 and a 12-month high of $18.45. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 1.49 and a beta of 1.02.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, June 28th. Fulton Financial’s dividend payout ratio is currently 44.07%.
In other news, COO Curtis J. Myers sold 6,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $17.03, for a total transaction of $110,695.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Deporter sold 3,000 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $16.91, for a total transaction of $50,730.00. Following the sale, the insider now directly owns 2,266 shares in the company, valued at $38,318.06. The disclosure for this sale can be found here. Insiders sold 14,660 shares of company stock worth $249,145 over the last ninety days. Corporate insiders own 1.02% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in FULT. Norges Bank purchased a new stake in shares of Fulton Financial during the fourth quarter valued at $28,422,000. Hillcrest Asset Management LLC grew its holdings in shares of Fulton Financial by 80.8% during the fourth quarter. Hillcrest Asset Management LLC now owns 554,602 shares of the bank’s stock valued at $8,585,000 after buying an additional 247,917 shares during the last quarter. Federated Investors Inc. PA grew its holdings in shares of Fulton Financial by 30.2% during the first quarter. Federated Investors Inc. PA now owns 767,878 shares of the bank’s stock valued at $11,887,000 after buying an additional 178,223 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Fulton Financial by 40.0% during the fourth quarter. Bank of America Corp DE now owns 572,845 shares of the bank’s stock valued at $8,868,000 after buying an additional 163,649 shares during the last quarter. Finally, WINTON GROUP Ltd grew its holdings in shares of Fulton Financial by 39.7% during the second quarter. WINTON GROUP Ltd now owns 473,965 shares of the bank’s stock valued at $7,759,000 after buying an additional 134,784 shares during the last quarter. 65.00% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the stock. DA Davidson reissued a “buy” rating on shares of Umpqua in a report on Thursday, April 18th. Zacks Investment Research raised shares of General Moly from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. ValuEngine raised shares of Xylem from a “hold” rating to a “buy” rating in a report on Friday, June 21st. BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Fulton Financial in a report on Wednesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Fulton Financial presently has a consensus rating of “Hold” and an average price target of $18.88.
Fulton Financial Company Profile
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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