Fulton Financial (NASDAQ:FULT) Issues Quarterly Earnings Results

Fulton Financial (NASDAQ:FULT) released its quarterly earnings data on Tuesday. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06, Briefing.com reports. Fulton Financial had a return on equity of 11.78% and a net margin of 15.87%. During the same period in the prior year, the business posted $0.42 EPS.

Fulton Financial Trading Down 2.3 %

Shares of NASDAQ FULT opened at $20.63 on Thursday. The business’s 50 day moving average price is $20.48 and its 200-day moving average price is $19.10. Fulton Financial has a fifty-two week low of $13.87 and a fifty-two week high of $22.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 13.14 and a beta of 0.79.

Fulton Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.49%. The ex-dividend date was Tuesday, December 31st. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.17. Fulton Financial’s payout ratio is 45.86%.

Insider Buying and Selling at Fulton Financial

In other news, CEO Curtis J. Myers sold 24,192 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $21.16, for a total transaction of $511,902.72. Following the completion of the sale, the chief executive officer now directly owns 155,946 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 1.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FULT shares. StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th. 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 research report on Wednesday, December 4th. Finally, Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.50.

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.