DA Davidson Forecasts Reduced Earnings for Fulton Financial

Fulton Financial Co. (NASDAQ:FULT) – DA Davidson dropped their FY2025 earnings per share estimates for shares of Fulton Financial in a research report issued to clients and investors on Thursday, December 19th. DA Davidson analyst M. Navas now forecasts that the bank will post earnings per share of $1.72 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.

FULT has been the subject of a number of other reports. Keefe, Bruyette & Woods upped their target price on shares of Fulton Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. 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 price objective on shares of Fulton Financial in a research report on Thursday, October 17th. Finally, Stephens raised shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.50.

Fulton Financial Stock Performance

Shares of Fulton Financial stock opened at $19.60 on Friday. The firm’s fifty day simple moving average is $19.97 and its 200-day simple moving average is $18.50. Fulton Financial has a 12 month low of $13.87 and a 12 month high of $22.49. The stock has a market capitalization of $3.57 billion, a price-to-earnings 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 (NASDAQ:FULT) last announced its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $487.33 million during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $0.43 earnings per share.

Fulton Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a yield of 3.67%. This is a boost from Fulton Financial’s previous quarterly dividend of $0.17. Fulton Financial’s payout ratio is presently 45.57%.

Insider Transactions at Fulton Financial

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Miller Howard Investments Inc. NY grew its stake in shares of Fulton Financial by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 22,132 shares of the bank’s stock valued at $376,000 after buying an additional 527 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Fulton Financial by 3.7% during the 2nd quarter. CIBC Asset Management Inc now owns 16,883 shares of the bank’s stock worth $287,000 after purchasing an additional 605 shares during the period. TD Private Client Wealth LLC increased its position in Fulton Financial by 11.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock worth $118,000 after purchasing an additional 676 shares in the last quarter. Blue Trust Inc. raised its holdings in Fulton Financial by 21.9% in the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after buying an additional 691 shares during the period. Finally, Meridian Wealth Partners LLC lifted its position in Fulton Financial by 4.7% during the second quarter. Meridian Wealth Partners LLC now owns 27,557 shares of the bank’s stock valued at $468,000 after buying an additional 1,230 shares in the last quarter. 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.