Fulton Financial Co. (NASDAQ:FULT) Forecasted to Earn Q1 2023 Earnings of $0.42 Per Share

Fulton Financial Co. (NASDAQ:FULTGet Rating) – Equities researchers at Jefferies Financial Group dropped their Q1 2023 earnings estimates for Fulton Financial in a note issued to investors on Thursday, January 19th. Jefferies Financial Group analyst C. Haire now anticipates that the bank will post earnings of $0.42 per share for the quarter, down from their previous forecast of $0.45. The consensus estimate for Fulton Financial’s current full-year earnings is $1.90 per share. Jefferies Financial Group also issued estimates for Fulton Financial’s Q2 2023 earnings at $0.36 EPS and FY2023 earnings at $1.75 EPS.

Several other equities analysts have also recently commented on FULT. DA Davidson reduced their price objective on shares of Fulton Financial from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday. StockNews.com assumed coverage on shares of Fulton Financial in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Piper Sandler boosted their price objective on shares of Fulton Financial to $20.00 in a research note on Wednesday, October 5th. Finally, Janney Montgomery Scott assumed coverage on shares of Fulton Financial in a research note on Tuesday, January 10th. They set a “neutral” rating and a $19.50 price objective for the company.

Fulton Financial Stock Performance

NASDAQ FULT opened at $15.64 on Monday. The company’s 50 day moving average is $17.26 and its 200-day moving average is $16.84. The firm has a market cap of $2.62 billion, a P/E ratio of 9.37 and a beta of 0.81. Fulton Financial has a 12-month low of $13.72 and a 12-month high of $18.91. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC increased its stake in shares of Fulton Financial by 455.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,168 shares of the bank’s stock worth $34,000 after acquiring an additional 1,778 shares in the last quarter. Lazard Asset Management LLC grew its position in Fulton Financial by 1,554.1% during the 1st quarter. Lazard Asset Management LLC now owns 2,200 shares of the bank’s stock valued at $36,000 after purchasing an additional 2,067 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new stake in Fulton Financial during the 3rd quarter valued at about $38,000. Almanack Investment Partners LLC. purchased a new stake in Fulton Financial during the 3rd quarter valued at about $42,000. Finally, Wipfli Financial Advisors LLC purchased a new stake in Fulton Financial during the 3rd quarter valued at about $45,000. 64.84% of the stock is currently owned by institutional investors.

Insider Activity at Fulton Financial

In related news, EVP Angela M. Snyder sold 4,818 shares of the company’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $18.23, for a total transaction of $87,832.14. Following the completion of the sale, the executive vice president now directly owns 33,246 shares in the company, valued at approximately $606,074.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Fulton Financial news, EVP Angela M. Snyder sold 4,818 shares of the company’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $18.23, for a total value of $87,832.14. Following the completion of the transaction, the executive vice president now directly owns 33,246 shares in the company, valued at approximately $606,074.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Angela M. Sargent sold 11,581 shares of the company’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $18.57, for a total transaction of $215,059.17. Following the completion of the transaction, the executive vice president now owns 70,079 shares of the company’s stock, valued at $1,301,367.03. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company insiders.

Fulton Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Tuesday, January 3rd were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, December 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.84%. Fulton Financial’s dividend payout ratio (DPR) is 35.93%.

Fulton Financial Company Profile

(Get Rating)

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers secured consumer loans, including home equity loans and lines of credit, automobile loans, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial real estate, commercial and industrial, and construction loans, as well as equipment lease financing loans.

Further Reading

Earnings History and Estimates for Fulton Financial (NASDAQ:FULT)

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