Fulton Financial Co. (NASDAQ:FULT) – DA Davidson has reduced its 2024 earnings estimates for Fulton Financial, predicting earnings per share (EPS) of $1.67, down from $1.70. The current consensus is $1.73 EPS for the year. They also predict Q4 2024 EPS at $0.40 and FY2025 EPS at $1.74.
Piper Sandler set a $21 price target for Fulton Financial. StockNews.com upgraded it from “sell” to “hold.” Jefferies lowered its target price from $18.50 to $18.00, maintaining a “hold” rating. Currently, five analysts rate the stock as a “hold,” and one as a “buy,” with an average target of $18.83.
Stock Performance
FULT shares opened at $18.08 on Friday. The company has a market cap of $3.29 billion, a P/E ratio of 11.23, and a beta of 0.73. The shares have ranged from a low of $11.99 to a high of $20.33 in the past year. The 50-day moving average is $18.12.
Earnings Update
On October 15, Fulton Financial reported $0.50 EPS, beating estimates of $0.44. Revenue for the quarter was $487.33 million, exceeding the $321 million forecast. Last year, the EPS was $0.43.
Dividend News
Fulton Financial declared a quarterly dividend of $0.17, paid on October 15. The annualized dividend is $0.68, yielding 3.76%. The ex-dividend date was October 1, with a payout ratio of 42.24%.
Investor Activity
Recent institutional activity includes Millennium Management increasing its stake by 511.1%, now holding 3,256,000 shares. Other firms like The Manufacturers Life Insurance and Bank of New York Mellon also increased their holdings significantly. Overall, institutional investors own 72.02% of the company.
About Fulton Financial
Fulton Financial Corporation is a financial holding company offering banking services across several states, including Pennsylvania and New Jersey.
Related Insights
- Top stocks to consider besides Fulton Financial
- Understanding health care stock investments
- America’s most sought-after businesses in 2024
- Key points on insider trading
- Top stocks benefitting from oil’s recovery
- Understanding P/E ratio for stock evaluation
- CrowdStrike stock growth potential
Get Daily News Updates – Subscribe to receive daily summaries of the latest news and ratings for Fulton Financial and similar companies through MarketBeat.com’s FREE daily newsletter.
`
