Fulton Financial Co. (NASDAQ:FULT) Expected to Post Q2 2024 Earnings of $0.38 Per Share

Fulton Financial Co. (NASDAQ:FULT) – DA Davidson issued their Q2 2024 earnings estimates for shares of Fulton Financial in a report issued on Friday, April 19th. DA Davidson analyst M. Navas forecasts that the bank will earn $0.38 per share for the quarter. The consensus estimate for Fulton Financial’s current full-year earnings is $1.55 per share.

Other research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods upped their target price on shares of Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a report on Thursday, January 18th. StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Jefferies Financial Group decreased their price target on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Finally, Stephens decreased their price target on shares of Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating for the company in a research note on Thursday, April 18th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.17.

Fulton Financial Trading Up 1.5 %

Shares of NASDAQ:FULT opened at $15.21 on Monday. The company’s 50 day moving average is $15.29 and its two-hundred day moving average is $14.96. Fulton Financial has a 52 week low of $9.64 and a 52 week high of $17.06. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.46 billion, a PE ratio of 9.45 and a beta of 0.81.

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.47%. Fulton Financial’s dividend payout ratio is presently 42.24%.

Hedge Funds Weigh In On Fulton Financial

Hedge funds have recently added to or reduced their stakes in the business. Morton Brown Family Wealth LLC purchased a new position in Fulton Financial during the 4th quarter valued at about $26,000. Blue Trust Inc. increased its holdings in Fulton Financial by 82.8% during the 4th quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock valued at $28,000 after acquiring an additional 781 shares in the last quarter. Strs Ohio acquired a new stake in shares of Fulton Financial during the 4th quarter worth about $29,000. Disciplined Equity Management Inc. acquired a new stake in shares of Fulton Financial during the 4th quarter worth about $32,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Fulton Financial during the 3rd quarter worth about $38,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

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.