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

Fulton Financial (NASDAQ:FULT) posted its earnings results on Tuesday. The bank reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06, Yahoo Finance reports. Fulton Financial had a net margin of 17.93% and a return on equity of 11.29%. During the same period in the previous year, the company earned $0.43 EPS.

Fulton Financial Price Performance

Shares of FULT stock opened at $18.26 on Wednesday. Fulton Financial has a 1 year low of $11.99 and a 1 year high of $20.33. The firm’s 50 day moving average is $18.05 and its 200-day moving average is $17.25. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 11.34 and a beta of 0.73. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26.

Fulton Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.72%. Fulton Financial’s payout ratio is 42.24%.

Analyst Upgrades and Downgrades

A number of research firms have commented on FULT. Jefferies Financial Group reduced their price target on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.40.

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.