Fulton Financial (NASDAQ:FULT) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Fulton Financial (NASDAQ:FULT) announced its quarterly earnings results on Tuesday. The bank reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06, Yahoo Finance reports. Fulton Financial had a net margin of 17.93% and a return on equity of 11.29%. During the same quarter in the prior year, the company earned $0.43 earnings per share.

Fulton Financial Stock Up 0.7 %

Shares of FULT stock opened at $18.26 on Wednesday. The stock has a market cap of $3.32 billion, a P/E ratio of 11.34 and a beta of 0.73. Fulton Financial has a 52 week low of $11.99 and a 52 week high of $20.33. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.26. The company’s fifty day simple moving average is $18.05 and its two-hundred day simple moving average is $17.25.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.72%. The ex-dividend date was Tuesday, October 1st. Fulton Financial’s payout ratio is currently 42.24%.

Wall Street Analyst Weigh In

FULT has been the subject of a number of research analyst reports. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Jefferies Financial Group cut their target price on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.40.

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.