Fulton Financial (FULT) Expected to Announce Earnings on Tuesday

Fulton Financial (NASDAQ:FULT) will likely be announcing its earnings results after the market closes on Tuesday, January 21st. Analysts expect the company to announce earnings of $0.42 per share and revenue of $315,731.00 billion for the quarter.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, topping the consensus estimate of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The company had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. During the same period in the previous year, the firm posted $0.43 earnings per share. On average, analysts expect Fulton Financial to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fulton Financial Stock Up 2.9 %

NASDAQ FULT traded up $0.58 during trading hours on Wednesday, hitting $20.76. The company’s stock had a trading volume of 1,878,789 shares, compared to its average volume of 1,688,777. The company has a market capitalization of $3.78 billion, a PE ratio of 13.14 and a beta of 0.79. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. Fulton Financial has a 52 week low of $13.87 and a 52 week high of $22.49. The company’s 50-day simple moving average is $20.50 and its two-hundred day simple moving average is $18.94.

Fulton Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.17. Fulton Financial’s dividend payout ratio (DPR) is currently 45.57%.

Insider Transactions at Fulton Financial

In related news, CEO Curtis J. Myers sold 24,192 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $21.16, for a total transaction of $511,902.72. Following the completion of the sale, the chief executive officer now owns 155,946 shares in the company, valued at approximately $3,299,817.36. This trade represents a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FULT shares. Keefe, Bruyette & Woods upped their price target on Fulton Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. StockNews.com lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Finally, Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.50.

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.