Fulton Financial Co. (NASDAQ:FULT) to Post Q2 2024 Earnings of $0.38 Per Share, DA Davidson Forecasts

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

Several other research analysts have also issued reports on FULT. Stephens lowered their target price on Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating for the company in a research report on Thursday, April 18th. Jefferies Financial Group lowered their target price on Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Monday, April 8th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods lifted their price objective on Fulton Financial from $16.00 to $17.00 and gave the stock a “market perform” rating in a research report on Thursday, January 18th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.17.

Fulton Financial Stock Up 0.9 %

Shares of NASDAQ:FULT opened at $15.34 on Monday. The firm has a market cap of $2.49 billion, a P/E ratio of 9.53 and a beta of 0.81. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. Fulton Financial has a 12-month low of $9.64 and a 12-month high of $17.06. The business has a fifty day simple moving average of $15.31 and a 200 day simple moving average of $14.98.

Fulton Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Thursday, March 28th. Fulton Financial’s dividend payout ratio (DPR) is presently 42.24%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FULT. New Mexico Educational Retirement Board acquired a new stake in shares of Fulton Financial in the 1st quarter valued at about $560,000. Vanguard Group Inc. grew its stake in shares of Fulton Financial by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock valued at $320,061,000 after buying an additional 216,465 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in shares of Fulton Financial in the 4th quarter valued at about $38,000. Rafferty Asset Management LLC grew its stake in shares of Fulton Financial by 53.7% in the 4th quarter. Rafferty Asset Management LLC now owns 270,480 shares of the bank’s stock valued at $4,452,000 after buying an additional 94,538 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of Fulton Financial by 62.2% in the 4th quarter. CIBC Asset Management Inc now owns 16,490 shares of the bank’s stock valued at $271,000 after buying an additional 6,322 shares during the period. 72.02% of the stock is owned by 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.