Fulton Financial (NASDAQ:FULT) Announces Earnings Results

Fulton Financial (NASDAQ:FULT) released its earnings results on Tuesday. The bank reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06, Yahoo Finance reports. Fulton Financial had a return on equity of 11.29% and a net margin of 17.93%. The company had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. During the same quarter last year, the company earned $0.43 earnings per share.

Fulton Financial Trading Up 2.2 %

Fulton Financial stock opened at $18.66 on Thursday. The stock has a market cap of $3.39 billion, a PE ratio of 11.59 and a beta of 0.73. The stock has a 50-day moving average price of $18.08 and a 200 day moving average price of $17.26. Fulton Financial has a 52 week low of $11.99 and a 52 week high of $20.33. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Tuesday, October 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 42.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FULT shares. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Jefferies Financial Group reduced their target price on Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.