Fulton Financial (NASDAQ:FULT) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Fulton Financial (NASDAQ:FULT) posted its earnings results on Tuesday. The bank reported $0.48 EPS for the quarter, topping the consensus estimate of $0.42 by $0.06, Briefing.com reports. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same period in the prior year, the business earned $0.42 earnings per share.

Fulton Financial Price Performance

NASDAQ:FULT traded up $0.25 during trading hours on Tuesday, reaching $21.11. The company had a trading volume of 1,836,810 shares, compared to its average volume of 1,710,926. Fulton Financial has a one year low of $13.87 and a one year high of $22.49. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $20.49 and a two-hundred day moving average of $19.06. The firm has a market capitalization of $3.84 billion, a PE ratio of 13.36 and a beta of 0.79.

Fulton Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.18 dividend. This is a boost from Fulton Financial’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Tuesday, December 31st. Fulton Financial’s dividend payout ratio (DPR) is 45.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on FULT shares. StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods boosted their price objective on Fulton Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Finally, Piper Sandler set a $21.00 target price 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 issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.50.

Insider Transactions at Fulton Financial

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction on Friday, December 6th. The stock was sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the transaction, the chief executive officer now owns 155,946 shares in the company, valued at approximately $3,299,817.36. The trade was a 13.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.07% of the stock is owned by insiders.

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.