Q2 2024 EPS Estimates for Fulton Financial Co. (NASDAQ:FULT) Decreased by DA Davidson

Fulton Financial Co. (NASDAQ:FULT) – Equities research analysts at DA Davidson cut their Q2 2024 earnings per share (EPS) estimates for Fulton Financial in a note issued to investors on Wednesday, May 1st. DA Davidson analyst M. Navas now anticipates that the bank will earn $0.14 per share for the quarter, down from their previous estimate of $0.38. DA Davidson currently has a “Neutral” rating and a $18.00 price objective on the stock. The consensus estimate for Fulton Financial’s current full-year earnings is $1.57 per share. DA Davidson also issued estimates for Fulton Financial’s FY2024 earnings at $1.30 EPS and FY2025 earnings at $1.70 EPS.

Several other analysts also recently issued reports on FULT. Stephens cut their price objective on Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating on the stock in a report on Thursday, April 18th. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Jefferies Financial Group lowered their price objective on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Keefe, Bruyette & Woods increased their target price on Fulton Financial from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Janney Montgomery Scott upgraded Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price target on the stock in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.60.

Fulton Financial Stock Up 0.4 %

Shares of Fulton Financial stock opened at $17.03 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. Fulton Financial has a 12-month low of $9.64 and a 12-month high of $17.34. The firm has a market capitalization of $2.76 billion, a PE ratio of 10.58 and a beta of 0.77. The stock’s fifty day moving average is $15.41 and its 200-day moving average is $15.14.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.68 annualized dividend and a dividend yield of 3.99%. Fulton Financial’s dividend payout ratio (DPR) is 42.24%.

Institutional Investors Weigh In On Fulton Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Morton Brown Family Wealth LLC bought a new stake in shares of Fulton Financial during the 4th quarter worth about $26,000. Blue Trust Inc. raised its position in shares of Fulton Financial by 82.8% in the fourth quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock valued at $28,000 after purchasing an additional 781 shares during the period. Strs Ohio acquired a new stake in shares of Fulton Financial in the fourth quarter worth $29,000. Disciplined Equity Management Inc. acquired a new stake in shares of Fulton Financial in the fourth quarter worth $32,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Fulton Financial during the 1st quarter worth $36,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

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.