Wall Street analysts forecast that Fulton Financial Corp (NASDAQ:FULT) will report sales of $213.14 million for the current quarter, Zacks reports. Five analysts have made estimates for Fulton Financial’s earnings, with estimates ranging from $210.40 million to $216.35 million. Fulton Financial posted sales of $162.74 million during the same quarter last year, which would indicate a positive year over year growth rate of 31%. The company is scheduled to issue its next earnings report on Tuesday, April 16th.
According to Zacks, analysts expect that Fulton Financial will report full-year sales of $880.13 million for the current year, with estimates ranging from $862.70 million to $897.23 million. For the next fiscal year, analysts forecast that the firm will report sales of $911.80 million, with estimates ranging from $879.80 million to $940.61 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Fulton Financial.
Get Fulton Financial alerts:Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, January 15th. The bank reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). The business had revenue of $215.65 million for the quarter, compared to analysts’ expectations of $215.11 million. Fulton Financial had a return on equity of 9.25% and a net margin of 22.66%. During the same quarter last year, the company posted $0.28 earnings per share.
FULT has been the subject of several research reports. BidaskClub upgraded Fulton Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. Barclays reaffirmed a “buy” rating and set a $21.00 target price on shares of Fulton Financial in a research note on Friday, January 11th. ValuEngine raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. Boenning Scattergood reissued a “hold” rating on shares of Fulton Financial in a research note on Wednesday, January 16th. Finally, Zacks Investment Research cut Fulton Financial from a “buy” rating to a “hold” rating in a report on Friday, January 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $18.92.
Shares of NASDAQ:FULT traded down $0.09 during mid-day trading on Friday, hitting $16.38. 33,614 shares of the company traded hands, compared to its average volume of 1,109,482. The company has a market cap of $3.03 billion, a P/E ratio of 13.88, a PEG ratio of 1.54 and a beta of 0.96. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 0.97. Fulton Financial has a 52-week low of $14.38 and a 52-week high of $19.55.
Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Fulton Financial by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 2,356,948 shares of the bank’s stock worth $36,485,000 after acquiring an additional 108,936 shares during the last quarter. Norges Bank acquired a new stake in Fulton Financial during the 4th quarter worth $28,422,000. Hillcrest Asset Management LLC raised its stake in Fulton Financial by 80.8% during the 4th quarter. Hillcrest Asset Management LLC now owns 554,602 shares of the bank’s stock worth $8,585,000 after buying an additional 247,917 shares during the period. Legal & General Group Plc increased its holdings in Fulton Financial by 4.3% during the 4th quarter. Legal & General Group Plc now owns 218,835 shares of the bank’s stock worth $3,387,000 after purchasing an additional 9,099 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in Fulton Financial by 5.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 44,670 shares of the bank’s stock worth $691,000 after purchasing an additional 2,316 shares in the last quarter. Institutional investors own 63.03% of the company’s stock.
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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