$194.09 Million in Sales Expected for Fulton Financial Corp (FULT) This Quarter

Wall Street brokerages expect Fulton Financial Corp (NASDAQ:FULT) to announce sales of $194.09 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Fulton Financial Corp’s earnings. The highest sales estimate is $197.72 million and the lowest is $191.6 million. Fulton Financial Corp posted sales of $175.05 million during the same quarter last year, which suggests a positive year over year growth rate of 10.9%. The company is scheduled to issue its next quarterly earnings results on Tuesday, July 18th.

On average, analysts expect that Fulton Financial Corp will report full-year sales of $194.09 million for the current financial year, with estimates ranging from $769.1 million to $801.6 million. For the next fiscal year, analysts forecast that the business will report sales of $843.42 million per share, with estimates ranging from $819.2 million to $868.53 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Fulton Financial Corp.

Fulton Financial Corp (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, April 18th. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Fulton Financial Corp had a net margin of 20.37% and a return on equity of 7.67%. The company had revenue of $183.15 million for the quarter, compared to analysts’ expectations of $184.36 million. During the same period last year, the company earned $0.22 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year.

Several equities analysts have weighed in on the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 target price on shares of Fulton Financial Corp in a research note on Monday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $18.00 target price on shares of Fulton Financial Corp in a research note on Thursday, April 20th. Finally, Barclays PLC reaffirmed a “sell” rating and set a $18.00 target price (up previously from $17.00) on shares of Fulton Financial Corp in a research note on Friday, April 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Fulton Financial Corp currently has a consensus rating of “Hold” and an average target price of $18.50.

Fulton Financial Corp (NASDAQ:FULT) traded up 1.13% during midday trading on Wednesday, hitting $17.85. 691,686 shares of the company’s stock traded hands. The company has a market capitalization of $3.12 billion, a PE ratio of 18.59 and a beta of 1.10. The company has a 50 day moving average of $18.00 and a 200-day moving average of $18.09. Fulton Financial Corp has a 52 week low of $12.66 and a 52 week high of $19.75.

In related news, EVP Meg R. Mueller sold 3,266 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $18.90, for a total value of $61,727.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.75% of the company’s stock.

Several large investors have recently made changes to their positions in FULT. BlackRock Fund Advisors boosted its stake in shares of Fulton Financial Corp by 6.1% in the third quarter. BlackRock Fund Advisors now owns 9,400,145 shares of the bank’s stock valued at $136,490,000 after buying an additional 540,610 shares during the last quarter. Comerica Bank boosted its stake in shares of Fulton Financial Corp by 34.8% in the fourth quarter. Comerica Bank now owns 204,714 shares of the bank’s stock valued at $3,849,000 after buying an additional 52,893 shares during the last quarter. State Street Corp boosted its stake in shares of Fulton Financial Corp by 11.7% in the fourth quarter. State Street Corp now owns 8,065,027 shares of the bank’s stock valued at $151,626,000 after buying an additional 845,682 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Fulton Financial Corp by 9.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 29,850 shares of the bank’s stock valued at $561,000 after buying an additional 2,700 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in shares of Fulton Financial Corp by 320.0% in the third quarter. Citadel Advisors LLC now owns 163,019 shares of the bank’s stock valued at $2,367,000 after buying an additional 124,207 shares during the last quarter. 58.70% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “$194.09 Million in Sales Expected for Fulton Financial Corp (FULT) This Quarter” was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://www.com-unik.info/2017/05/15/zacks-brokerages-anticipate-fulton-financial-corp-fult-will-post-quarterly-sales-of-185-78-million-updated-updated.html.

About Fulton Financial Corp

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).

5 Day Chart for NASDAQ:FULT

Get a free copy of the Zacks research report on Fulton Financial Corp (FULT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

What are top analysts saying about Fulton Financial Corp? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Fulton Financial Corp and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit