Fulton Financial (NASDAQ:FULT) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Fulton Financial (NASDAQ:FULT) released its quarterly earnings results on Tuesday. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08, Zacks reports. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%.

Fulton Financial Trading Up 2.3 %

Shares of Fulton Financial stock traded up $0.36 during trading hours on Tuesday, reaching $16.03. 3,622,115 shares of the company’s stock were exchanged, compared to its average volume of 1,540,939. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 10.21 and a beta of 0.68. The company has a current ratio of 0.90, a quick ratio of 0.90 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 has a fifty day moving average of $18.36 and a 200-day moving average of $19.25.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 4.49%. Fulton Financial’s payout ratio is currently 45.86%.

Insider Activity at Fulton Financial

In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares in the company, valued at $1,317,580.58. The trade was a 17.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, January 23rd. DA Davidson raised their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Hovde Group raised their price target on Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.64.

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.