Fulton Financial Corporation [NASDAQ: FULT] jumped around 0.18 points on Thursday, while shares priced at $10.28 at the close of the session, up 1.78%. Recently, the company updated the quarterly financial outcomes for the second quarter of 2020. The CEO of Fulton, E. Philip Wenger highlighted that the COVID-19 outbreak has had a significant impact on the quarterly performance but they are satisfied with what Fulton has achieved during this uncertain time.
The net income was reported at around $40 million during the quarter, whereas the net interest income was almost $153 million, showing a decrease of $8 million versus the Q1 of 2020. Fulton recorded a decrease in net interest margin around 40 basis points, and the total average assets during the Q2 were recorded at $24.1 billion. An increase of up to $1.5 billion was noted in average loans, net of unearned income taking it to $18.3 billion as compared to the Q1 of 2020.
Fulton Financial Corporation stock is now -41.02% down from its year-to-date (YTD) trading value. FULT Stock saw the intraday high of $10.32 and lowest of $9.96 per share. The company’s 52-week high price is 18.00, which means current price is +15.38% above from all time high which was touched on 01/17/20.
Compared to the average trading volume of 1.35M shares, FULT reached a trading volume of 994915 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Fulton Financial Corporation [FULT]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FULT shares is $11.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FULT stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Raymond James have made an estimate for Fulton Financial Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 17, 2020. While these analysts kept the previous recommendation, Stephens raised their target price to Equal-Weight. The new note on the price target was released on June 01, 2020, representing the official price target for Fulton Financial Corporation stock. On October 03, 2018, analysts increased their price target for FULT shares from 18 to 19.
The Average True Range (ATR) for Fulton Financial Corporation is set at 0.53, with the Price to Sales ratio for FULT stock in the period of the last 12 months amounting to 2.08. The Price to Book ratio for the last quarter was 0.74, with the Price to Cash per share for the same quarter was set at 5.88.
How has FULT stock performed recently?
Fulton Financial Corporation [FULT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.29. With this latest performance, FULT shares dropped by -1.44% in over the last four-week period, additionally sinking by -40.58% over the last 6 months – not to mention a drop of -40.09% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FULT stock in for the last two-week period is set at 50.61, with the RSI for the last a single of trading hit 54.08, and the three-weeks RSI is set at 49.29 for Fulton Financial Corporation [FULT]. The present Moving Average for the last 50 days of trading for this stock 10.54, while it was recorded at 10.07 for the last single week of trading, and 14.01 for the last 200 days.
Fulton Financial Corporation [FULT]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Fulton Financial Corporation [FULT] shares currently have an operating margin of +26.44. Fulton Financial Corporation’s Net Margin is presently recorded at +21.73.
Return on Total Capital for FULT is now 6.71, given the latest momentum, and Return on Invested Capital for the company is 7.18. Return on Equity for this stock inclined to 9.86, with Return on Assets sitting at 1.06. When it comes to the capital structure of this company, Fulton Financial Corporation [FULT] has a Total Debt to Total Equity ratio set at 80.04. Additionally, FULT Total Debt to Total Capital is recorded at 44.46, with Total Debt to Total Assets ending up at 8.53. Long-Term Debt to Equity for the company is recorded at 41.53, with the Long-Term Debt to Total Capital now at 23.07.
Reflecting on the efficiency of the workforce at the company, Fulton Financial Corporation [FULT] managed to generate an average of $64,668 per employee.
Earnings analysis for Fulton Financial Corporation [FULT]
With the latest financial reports released by the company, Fulton Financial Corporation posted 0.37/share EPS, while the average EPS was predicted by analysts to be reported at 0.35/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FULT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fulton Financial Corporation go to 8.00%.
Insider trade positions for Fulton Financial Corporation [FULT]
There are presently around $1,077 million, or 66.60% of FULT stock, in the hands of institutional investors. The top three institutional holders of FULT stocks are: BLACKROCK INC. with ownership of 19,455,928, which is approximately -1.175% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 16,303,231 shares of the stock with an approximate value of $167.6 million in FULT stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $129.34 million in FULT stock with ownership of nearly -6.06% of the company’s market capitalization.
Positions in Fulton Financial Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 100 institutional holders increased their position in Fulton Financial Corporation [NASDAQ:FULT] by around 2,640,836 shares. Additionally, 119 investors decreased positions by around 6,844,856 shares, while 60 investors held positions by with 95,303,989 shares. The mentioned changes placed institutional holdings at 104,789,681 shares, according to the latest SEC report filing. FULT stock had 25 new institutional investments in for a total of 285,075 shares, while 36 institutional investors sold positions of 1,216,724 shares during the same period.