Jefferies Group Comments on Fulton Financial Corporation’s FY2018 Earnings (FULT)

Fulton Financial Corporation (NASDAQ:FULT) – Research analysts at Jefferies Group upped their FY2018 earnings per share (EPS) estimates for shares of Fulton Financial in a note issued to investors on Monday. Jefferies Group analyst C. Haire now forecasts that the bank will post earnings per share of $1.24 for the year, up from their prior forecast of $1.14. Jefferies Group has a “Hold” rating and a $20.00 price objective on the stock. Jefferies Group also issued estimates for Fulton Financial’s FY2019 earnings at $1.34 EPS.

A number of other brokerages have also weighed in on FULT. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $17.50 target price on shares of Fulton Financial in a research note on Tuesday, October 3rd. Piper Jaffray Companies reaffirmed a “hold” rating and set a $18.00 target price on shares of Fulton Financial in a research note on Thursday, October 19th. BidaskClub lowered shares of Fulton Financial from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 6th. Zacks Investment Research raised shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, January 3rd. Finally, Barclays boosted their price objective on shares of Fulton Financial from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.80.

Shares of Fulton Financial (FULT) traded up $0.10 on Wednesday, hitting $18.60. 1,519,325 shares of the stock were exchanged, compared to its average volume of 796,653. The company has a market cap of $3,240.00, a price-to-earnings ratio of 18.24 and a beta of 1.17. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.98. Fulton Financial has a 52-week low of $16.45 and a 52-week high of $19.90.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, October 17th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $194.19 million for the quarter, compared to analyst estimates of $200.00 million. Fulton Financial had a net margin of 21.15% and a return on equity of 8.28%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, December 29th. Fulton Financial’s payout ratio is currently 43.14%.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Fulton Financial by 2.1% during the second quarter. Vanguard Group Inc. now owns 15,089,443 shares of the bank’s stock worth $286,699,000 after acquiring an additional 314,230 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Fulton Financial by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 14,443,398 shares of the bank’s stock worth $274,426,000 after acquiring an additional 112,692 shares in the last quarter. State Street Corp boosted its stake in Fulton Financial by 4.0% during the second quarter. State Street Corp now owns 9,239,829 shares of the bank’s stock worth $175,556,000 after acquiring an additional 353,566 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Fulton Financial by 0.6% in the second quarter. Alliancebernstein L.P. now owns 5,009,090 shares of the bank’s stock worth $95,173,000 after buying an additional 29,669 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Fulton Financial by 10.2% in the second quarter. Northern Trust Corp now owns 4,314,514 shares of the bank’s stock worth $81,976,000 after buying an additional 399,323 shares during the last quarter. 62.73% of the stock is currently owned by institutional investors and hedge funds.

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Fulton Financial Company Profile

Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).

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

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