FY2016 EPS Estimates for Fulton Financial Corporation (FULT) Lowered by Analyst

Fulton Financial Corporation (NASDAQ:FULT) – Investment analysts at Jefferies Group cut their FY2016 earnings per share estimates for shares of Fulton Financial Corporation in a research note issued on Monday. Jefferies Group analyst C. Haire now anticipates that the firm will post earnings of $0.93 per share for the year, down from their prior estimate of $0.94. Jefferies Group also issued estimates for Fulton Financial Corporation’s Q4 2016 earnings at $0.24 EPS.

Fulton Financial Corporation (NASDAQ:FULT) last posted its earnings results on Tuesday, October 18th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The company earned $130.57 million during the quarter, compared to analysts’ expectations of $136.49 million. Fulton Financial Corporation had a net margin of 20.23% and a return on equity of 7.57%. Fulton Financial Corporation’s quarterly revenue was down 23.4% on a year-over-year basis. During the same period last year, the company posted $0.20 earnings per share.

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

Several other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Tuesday. Barclays PLC downgraded shares of Fulton Financial Corporation from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $13.00 to $17.00 in a research report on Tuesday, December 6th. Hovde Group downgraded shares of Fulton Financial Corporation from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $16.50 to $19.00 in a research report on Friday, November 18th. FBR & Co lifted their price objective on shares of Fulton Financial Corporation from $14.00 to $15.00 and gave the company a “mkt perform” rating in a research note on Thursday, October 20th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating on shares of Fulton Financial Corporation in a research note on Wednesday, October 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Fulton Financial Corporation currently has a consensus rating of “Hold” and an average price target of $17.10.

Fulton Financial Corporation (NASDAQ:FULT) remained flat at $18.80 during trading on Wednesday. 299,039 shares of the company’s stock were exchanged. The firm has a market cap of $3.26 billion, a P/E ratio of 20.66 and a beta of 1.04. The stock has a 50 day moving average price of $18.66 and a 200-day moving average price of $15.36. Fulton Financial Corporation has a 52 week low of $11.48 and a 52 week high of $19.45.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Tuesday, January 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, December 29th. Fulton Financial Corporation’s dividend payout ratio is currently 43.96%.

In related news, CFO Patrick Sean Barrett sold 22,404 shares of the business’s stock in a transaction on Monday, December 5th. The shares were sold at an average price of $18.15, for a total value of $406,632.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Angela M. Sargent sold 15,192 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $265,860.00. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by corporate insiders.

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Several institutional investors have recently bought and sold shares of the stock. LS Investment Advisors LLC boosted its position in Fulton Financial Corporation by 76.7% in the second quarter. LS Investment Advisors LLC now owns 10,458 shares of the company’s stock valued at $141,000 after buying an additional 4,538 shares in the last quarter. RKL Wealth Management LLC boosted its position in Fulton Financial Corporation by 63.3% in the second quarter. RKL Wealth Management LLC now owns 48,337 shares of the company’s stock valued at $671,000 after buying an additional 18,737 shares in the last quarter. Wagner Bowman Management Corp boosted its position in Fulton Financial Corporation by 0.6% in the second quarter. Wagner Bowman Management Corp now owns 11,878 shares of the company’s stock valued at $160,000 after buying an additional 74 shares in the last quarter. Capital Fund Management S.A. purchased a new position in Fulton Financial Corporation during the second quarter valued at about $676,000. Finally, First Citizens Bank & Trust Co. boosted its position in Fulton Financial Corporation by 6.5% in the second quarter. First Citizens Bank & Trust Co. now owns 33,596 shares of the company’s stock valued at $454,000 after buying an additional 2,039 shares in the last quarter. Hedge funds and other institutional investors own 59.14% of the company’s stock.

About Fulton Financial Corporation

Fulton Financial Corporation is a multi-bank financial holding company. The Company provides a range of banking and financial services to businesses and consumers through its banking subsidiaries: Fulton Bank, N.A., Fulton Bank of New Jersey, The Columbia Bank, Lafayette Ambassador Bank, FNB Bank, N.A.

5 Day Chart for NASDAQ:FULT

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