Fulton Financial Co. Forecasted to Earn FY2025 Earnings of $1.77 Per Share (NASDAQ:FULT)

Fulton Financial Co. (NASDAQ:FULT - Free Report) - Investment analysts at DA Davidson reduced their FY2025 earnings per share (EPS) estimates for shares of Fulton Financial in a note issued to investors on Thursday, October 3rd. DA Davidson analyst M. Navas now expects that the bank will earn $1.77 per share for the year, down from their prior forecast of $1.80. The consensus estimate for Fulton Financial's current full-year earnings is $1.73 per share.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 16th. The bank reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.22. The business had revenue of $334.71 million for the quarter, compared to analysts' expectations of $296.38 million. Fulton Financial had a net margin of 17.93% and a return on equity of 11.29%. The company's revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share.

FULT has been the topic of a number of other research reports. StockNews.com upgraded shares of Fulton Financial from a "sell" rating to a "hold" rating in a research note on Thursday, July 18th. Jefferies Financial Group lowered their price target on Fulton Financial from $18.50 to $18.00 and set a "hold" rating on the stock in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $18.40.

Fulton Financial Price Performance

Shares of FULT stock traded down $0.02 during midday trading on Monday, reaching $17.33. 293,806 shares of the company were exchanged, compared to its average volume of 1,443,275. The company's 50 day moving average price is $18.16 and its two-hundred day moving average price is $17.15. The company has a market cap of $3.15 billion, a P/E ratio of 10.78 and a beta of 0.73. Fulton Financial has a 12 month low of $11.99 and a 12 month high of $20.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 0.93.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.17 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.68 annualized dividend and a yield of 3.92%. Fulton Financial's dividend payout ratio (DPR) is 42.24%.

Institutional Investors Weigh In On Fulton Financial

Several large investors have recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in shares of Fulton Financial by 511.1% during the second quarter. Millennium Management LLC now owns 3,256,000 shares of the bank's stock valued at $55,287,000 after purchasing an additional 2,723,170 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Fulton Financial by 710.0% during the second quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank's stock valued at $11,880,000 after buying an additional 613,272 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Fulton Financial by 28.8% in the second quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank's stock worth $43,164,000 after buying an additional 567,771 shares during the period. American Century Companies Inc. increased its position in shares of Fulton Financial by 18.6% in the second quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank's stock worth $51,323,000 after acquiring an additional 474,099 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Fulton Financial during the second quarter valued at approximately $7,292,000. 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.