Fulton Financial Co. (NASDAQ:FULT) – Investment analysts at DA Davidson issued their Q2 2021 earnings per share (EPS) estimates for Fulton Financial in a note issued to investors on Thursday, April 22nd. DA Davidson analyst R. Gunther expects that the bank will post earnings per share of $0.29 for the quarter.
Other equities analysts have also recently issued reports about the stock. Raymond James reaffirmed a “market perform” rating on shares of Fulton Financial in a research note on Tuesday, April 13th. Zacks Investment Research raised shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Tuesday, March 23rd.
Fulton Financial (NASDAQ:FULT) last posted its earnings results on Monday, April 19th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. Fulton Financial had a return on equity of 7.75% and a net margin of 18.30%. During the same quarter in the previous year, the business posted $0.13 earnings per share.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Thursday, April 1st were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.25%. The ex-dividend date was Wednesday, March 31st. This is an increase from Fulton Financial’s previous quarterly dividend of $0.13. Fulton Financial’s dividend payout ratio is presently 40.29%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FULT. Morgan Stanley boosted its holdings in shares of Fulton Financial by 143.2% in the 3rd quarter. Morgan Stanley now owns 310,403 shares of the bank’s stock valued at $2,895,000 after buying an additional 182,771 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Fulton Financial by 5.5% in the 3rd quarter. Sei Investments Co. now owns 141,528 shares of the bank’s stock valued at $1,320,000 after buying an additional 7,329 shares during the last quarter. Raymond James Trust N.A. acquired a new stake in Fulton Financial during the 4th quarter valued at $231,000. SevenBridge Financial Group LLC acquired a new stake in Fulton Financial during the 4th quarter valued at $262,000. Finally, Perigon Wealth Management LLC acquired a new stake in Fulton Financial during the 4th quarter valued at $27,000. 62.56% of the stock is owned by institutional investors.
Fulton Financial Company Profile
Fulton Financial Corporation operates as a financial holding company that provides banking and financial services to businesses and consumers. 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, financial, agricultural, and real estate loans.
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