Fulton Financial Cor Up 0.32% To $12.63 After Earnings Beat

Fulton Financial Corp (FULT) surpassed earnings projections on 10/17/2023 for Q3 2023.

Fulton Financial Cor's earnings came in at an EPS of $0.43 per share, 5.00% higher than estimates for an EPS of $0.41 per share. The firm's earnings are down 10% since reporting $0.48 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $218.3 million. That represents a 0.58% decrease in revenues from the year-ago report and is 4.24% higher than consensus estimates set at $209.4 million.

The stock is up 0.32% to $12.63 after the report.

Fulton Financial Cor's profit margins took a hit as earnings fell at a faster pace than revenues.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Fulton Financial Cor has performed a little above average during the past few months. Before the report, Fulton Financial Cor received a Long-Term Technical Rank by InvestorsObserver of 68, putting it in the top half of stocks. The firm set a 52-week low on May 11, 2023 at $9.64 and set a 52-week high on November 11, 2022 at $18.91.

Fulton Financial is a U.S.-based financial services holding company that operates in five states: Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It offers a range of consumer and commercial banking products and services, such as checking and savings deposit products and loan products. Its services cover five distinct divisions: consumer banking, commercial banking, mortgage banking, wealth management, and other. The bank derives its revenue from non-interest income, led by its Wealth Management division.