Fulton Financial Co. Expected to Earn Q2 2024 Earnings of $0.14 Per Share (NASDAQ:FULT)

Fulton Financial Co. (NASDAQ:FULT) – Equities researchers at DA Davidson dropped their Q2 2024 EPS estimates for shares of Fulton Financial in a note issued to investors on Wednesday, May 1st. DA Davidson analyst M. Navas now forecasts that the bank will post earnings of $0.14 per share for the quarter, down from their previous estimate of $0.38. DA Davidson currently 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 $1.52 per share. DA Davidson also issued estimates for Fulton Financial’s FY2024 earnings at $1.30 EPS and FY2025 earnings at $1.70 EPS.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group dropped their price target on Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Keefe, Bruyette & Woods lifted their price target on Fulton Financial from $17.00 to $19.00 and gave the company a “market perform” 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 for the company in a research note on Monday, April 29th. Stephens cut their target price on shares of Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating on the stock in a research report on Thursday, April 18th. Finally, StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.60.

Fulton Financial Stock Performance

Shares of Fulton Financial stock opened at $17.03 on Friday. The company’s 50 day moving average price is $15.45 and its two-hundred day moving average price is $15.17. The firm has a market capitalization of $2.76 billion, a P/E ratio of 10.58 and a beta of 0.77. Fulton Financial has a fifty-two week low of $9.64 and a fifty-two week high of $17.34. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90.

Institutional Trading of Fulton Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FULT. Blue Trust Inc. increased its position in shares of Fulton Financial by 82.8% during the fourth quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after buying an additional 781 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Fulton Financial by 0.9% in the 3rd quarter. SRS Capital Advisors Inc. now owns 92,173 shares of the bank’s stock worth $1,116,000 after acquiring an additional 864 shares in the last quarter. AlphaMark Advisors LLC lifted its stake 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 period. Miracle Mile Advisors LLC boosted its position in shares of Fulton Financial by 3.3% during the 3rd quarter. Miracle Mile Advisors LLC now owns 32,494 shares of the bank’s stock valued at $394,000 after purchasing an additional 1,048 shares in the last quarter. Finally, Meridian Wealth Partners LLC grew its stake in Fulton Financial by 6.1% during the third quarter. Meridian Wealth Partners LLC now owns 18,579 shares of the bank’s stock worth $225,000 after purchasing an additional 1,075 shares during the period. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Thursday, March 28th. Fulton Financial’s dividend payout ratio is currently 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.