Fulton Financial (NASDAQ:FULT) Releases Earnings Results, Beats Expectations By $0.22 EPS

Fulton Financial (NASDAQ:FULT) posted its quarterly earnings data on Tuesday. The bank reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.22, Yahoo Finance reports. The business had revenue of $334.71 million during the quarter, compared to the consensus estimate of $296.38 million. Fulton Financial had a net margin of 18.31% and a return on equity of 11.73%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share.

Fulton Financial Stock Performance

Shares of NASDAQ FULT opened at $18.80 on Wednesday. The stock’s fifty day simple moving average is $16.75 and its 200 day simple moving average is $16.02. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 11.68 and a beta of 0.75. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.35. Fulton Financial has a 52-week low of $11.63 and a 52-week high of $19.36.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a dividend of $0.17 per share. The ex-dividend date was Monday, July 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.62%. Fulton Financial’s dividend payout ratio (DPR) is presently 42.24%.

Analysts Set New Price Targets

A number of analysts have commented on FULT shares. Jefferies Financial Group dropped their price target on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Stephens boosted their target price on Fulton Financial from $15.50 to $17.50 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. DA Davidson increased their price target on Fulton Financial from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Janney Montgomery Scott raised Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price objective on the stock in a research note on Monday, April 29th. Finally, StockNews.com lowered Fulton Financial from a “hold” rating to a “sell” rating in a report on Friday, April 26th. One research 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. According to data from MarketBeat, Fulton Financial currently has a consensus rating of “Hold” and an average target price of $18.40.

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.