Fulton Financial Co. (NASDAQ:FULT) had its FY2024 earnings estimates reduced by DA Davidson on October 17th. Analyst M. Navas now projects earnings of $1.67 per share, down from $1.70. The consensus estimate for the year remains at $1.73. DA Davidson also forecasts $0.40 EPS for Q4 2024 and $1.74 EPS for FY2025.
Other reports include Piper Sandler setting a $21.00 price target, and StockNews.com upgrading the stock from “sell” to “hold” on July 18th. Jefferies lowered their target from $18.50 to $18.00. Currently, five analysts rate the stock as a hold and one as a buy, with an average target price of $18.83.
Fulton Financial Stock Performance
Fulton Financial shares opened at $18.08 on Friday, with a market cap of $3.29 billion and a PE ratio of 11.23. The stock has a 1-year low of $11.99 and a high of $20.33. Recent earnings reports show a $0.50 EPS, beating the consensus of $0.44, with revenue of $487.33 million exceeding expectations of $321 million.
Dividend Update
On October 15th, the company paid a quarterly dividend of $0.17 to shareholders, resulting in an annual yield of 3.76% and a payout ratio of 42.24%.
Institutional Investment
Hedge funds have recently adjusted their positions in Fulton Financial. Millennium Management LLC increased its stake by 511.1%, now owning 3.26 million shares. Other funds like The Manufacturers Life Insurance and Bank of New York Mellon have also grown their holdings significantly. Institutional investors now own 72.02% of the company.
About Fulton Financial
Fulton Financial Corporation offers various banking services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia.
Further Reading
- Five stocks we like better than Fulton Financial
- Health Care Stocks Explained: Why You Might Want to Invest
- Survey Reveals: America’s Most Coveted Businesses in 2024
- Insider Trading – What You Need to Know
- Top 3 Stocks to Play Oil’s Potential Comeback Rally
- P/E Ratio Calculation: How to Assess Stocks
- Analysts See Growth in CrowdStrike Stock Despite July Setback
Receive Daily News & Ratings for Fulton Financial – Sign up for MarketBeat.com’s FREE daily email newsletter.
`
