News

For the quarter ended June 2024, Fulton Financial (FULT) reported revenue of $339.27 million, up 22.1% over the same period last year. EPS came in at $0.47, compared to $0.47 in the year-ago quarter.

The reported revenue represents a surprise of +12.45% over the Zacks Consensus Estimate of $301.7 million. With the consensus EPS estimate being $0.25, the EPS surprise was +88.00%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Fulton Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Efficiency Ratio: 62.6% compared to the 63.9% average estimate based on four analysts.
• Net Interest Margin: 3.4% compared to the 3.4% average estimate based on four analysts.
• Average Balance - Total Interest-Earning Assets: $28.87 billion versus $27.94 billion estimated by three analysts on average.
• Net charge-offs to average loans: 0.2% versus 0.2% estimated by two analysts on average.
• Net Interest Income (FTE): $246.28 million compared to the $240.09 million average estimate based on four analysts.
• Total Non-Interest Income: $92.99 million compared to the $61.32 million average estimate based on four analysts.
• Non-Interest Income- Total commercial banking: $21.41 million versus $19.84 million estimated by three analysts on average.
• Non-Interest Income- Other: $4.93 million versus $5.07 million estimated by three analysts on average.
• Mortgage banking: $3.95 million versus $3.21 million estimated by three analysts on average.
• Non-Interest Income- Total consumer banking: $14.60 million versus $12.18 million estimated by three analysts on average.
• Wealth management: $20.99 million versus the three-analyst average estimate of $20.32 million.
• Non-Interest Income- Consumer banking- Overdraft: $3.38 million compared to the $2.90 million average estimate based on two analysts.

View all Key Company Metrics for Fulton Financial here>>>

Shares of Fulton Financial have returned +11% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Fulton Financial Corporation (FULT) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.