FY2025 EPS Estimates for Fulton Financial Cut by DA Davidson

Fulton Financial Co. (NASDAQ:FULT - Free Report) - DA Davidson decreased their FY2025 earnings per share estimates for Fulton Financial in a report released on Thursday, December 19th. DA Davidson analyst M. Navas now expects that the bank will post earnings of $1.72 per share for the year, down from their previous estimate of $1.74. The consensus estimate for Fulton Financial's current full-year earnings is $1.74 per share.

Several other research firms have also commented on FULT. StockNews.com lowered Fulton Financial from a "hold" rating to a "sell" rating in a report on Monday, November 11th. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a research note on Thursday, October 17th. Stephens upgraded shares of Fulton Financial from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Fulton Financial from $20.00 to $23.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $19.50.

Fulton Financial Trading Up 1.0 %

Fulton Financial stock traded up $0.20 during trading on Friday, reaching $19.60. 4,384,270 shares of the company were exchanged, compared to its average volume of 1,450,930. The stock's 50 day simple moving average is $19.97 and its two-hundred day simple moving average is $18.50. The company has a market capitalization of $3.57 billion, a P/E ratio of 12.41 and a beta of 0.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. Fulton Financial has a 52-week low of $13.87 and a 52-week high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.06. The business had revenue of $487.33 million for the quarter, compared to analyst estimates of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same period last year, the company posted $0.43 EPS.

Institutional Investors Weigh In On Fulton Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC lifted its holdings in Fulton Financial by 511.1% during the 2nd quarter. Millennium Management LLC now owns 3,256,000 shares of the bank's stock worth $55,287,000 after buying an additional 2,723,170 shares in the last quarter. Emerald Advisers LLC raised its stake in shares of Fulton Financial by 213.6% in the third quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank's stock valued at $23,706,000 after acquiring an additional 890,630 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in Fulton Financial by 272.2% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank's stock valued at $15,622,000 after purchasing an additional 630,152 shares during the period. The Manufacturers Life Insurance Company grew its stake in Fulton Financial by 710.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank's stock worth $11,880,000 after purchasing an additional 613,272 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Fulton Financial by 28.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank's stock worth $43,164,000 after purchasing an additional 567,771 shares during the period. Hedge funds and other institutional investors own 72.02% of the company's stock.

Insider Buying and Selling at Fulton Financial

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of the company's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $21.16, for a total transaction of $511,902.72. Following the transaction, the chief executive officer now directly owns 155,946 shares in the company, valued at $3,299,817.36. This represents a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.07% of the company's stock.

Fulton Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.67%. 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 45.57%.

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.