Q2 2024 Earnings Estimate for Fulton Financial Co. Issued By DA Davidson (NASDAQ:FULT)

Fulton Financial Co. (NASDAQ:FULT) – Research analysts at DA Davidson lowered their Q2 2024 EPS estimates for Fulton Financial in a report released on Thursday, June 27th. DA Davidson analyst M. Navas now expects that the bank will earn $0.13 per share for the quarter, down from their prior forecast of $0.14. DA Davidson has a “Neutral” rating and a $18.00 price target on the stock. The consensus estimate for Fulton Financial’s current full-year earnings is $1.55 per share. DA Davidson also issued estimates for Fulton Financial’s FY2025 earnings at $1.75 EPS.

FULT has been the topic of several other research reports. Jefferies Financial Group reduced their target price on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Stephens upped their price target on shares of Fulton Financial from $15.50 to $17.50 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. Janney Montgomery Scott upgraded shares of Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price target on the stock in a report on Monday, April 29th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Fulton Financial from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fulton Financial has a consensus rating of “Hold” and a consensus target price of $18.00.

Fulton Financial Trading Up 1.9 %

Shares of FULT opened at $16.98 on Monday. Fulton Financial has a twelve month low of $11.47 and a twelve month high of $17.68. The company has a market cap of $3.09 billion, a P/E ratio of 10.55 and a beta of 0.75. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $16.57 and its 200-day simple moving average is $15.99.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, April 16th. The bank reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Fulton Financial had a net margin of 18.31% and a return on equity of 11.73%. The business had revenue of $230.36 million for the quarter, compared to the consensus estimate of $268.90 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in shares of Fulton Financial by 82.8% in the 4th quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock valued at $28,000 after purchasing an additional 781 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of Fulton Financial by 0.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 93,045 shares of the bank’s stock valued at $1,532,000 after purchasing an additional 872 shares during the last quarter. AlphaMark Advisors LLC raised its position in shares of Fulton Financial by 5.3% in the 4th quarter. AlphaMark Advisors LLC now owns 19,714 shares of the bank’s stock valued at $324,000 after purchasing an additional 993 shares during the last quarter. Texas Permanent School Fund Corp raised its position in shares of Fulton Financial by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 143,357 shares of the bank’s stock valued at $2,278,000 after purchasing an additional 1,538 shares during the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new position in shares of Fulton Financial in the 4th quarter valued at approximately $26,000. 72.02% of the stock is currently owned by institutional investors.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.00%. The ex-dividend date is Monday, July 1st. 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.