Fulton Financial (NASDAQ:FULT) Announces Quarterly Earnings Results

Fulton Financial (NASDAQ:FULT) released its quarterly earnings data on Tuesday. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.44 by $0.08, Zacks reports. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. The business had revenue of $322.64 million during the quarter, compared to the consensus estimate of $315.07 million. During the same quarter in the prior year, the firm earned $0.40 EPS.

Fulton Financial Price Performance

Fulton Financial stock opened at $15.97 on Thursday. The firm has a market capitalization of $2.91 billion, a PE ratio of 10.17 and a beta of 0.68. Fulton Financial has a 12-month low of $13.87 and a 12-month high of $22.49. The firm has a 50-day moving average price of $18.17 and a 200-day moving average price of $19.21. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.51%. The ex-dividend date was Tuesday, April 1st. Fulton Financial’s dividend payout ratio is currently 45.86%.

Insider Buying and Selling

In other news, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now directly owns 63,682 shares in the company, valued at approximately $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FULT has been the topic of a number of research analyst reports. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. DA Davidson reiterated a “neutral” rating and set a $20.00 target price on shares of Fulton Financial in a research report on Wednesday. Keefe, Bruyette & Woods increased their price objective on shares of Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, January 23rd. Finally, Hovde Group lifted their price objective on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Fulton Financial currently has an average rating of “Hold” and a consensus price target of $20.36.

About Fulton Financial

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.