News

Fulton Financial (FULT) reported $230.36 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 15.2%. EPS of $0.40 for the same period compares to $0.39 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $268.9 million, representing a surprise of -14.33%. The company delivered an EPS surprise of +2.56%, with the consensus EPS estimate being $0.39.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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: 63.2% compared to the 64.1% average estimate based on four analysts.
• Net Interest Margin: 3.3% versus the four-analyst average estimate of 3.3%.
• Average Balance - Total interest earning assets: $25.60 billion compared to the $25.76 billion average estimate based on three analysts.
• Total Non-Interest Income: $57.14 million compared to the $58.22 million average estimate based on four analysts.
• Mortgage Banking: $3.09 million compared to the $2.11 million average estimate based on four analysts.
• Non-Interest Income- Other: $3.40 million versus the three-analyst average estimate of $4.01 million.
• Wealth management: $20.16 million compared to the $19.79 million average estimate based on three analysts.
• Net Interest Income: $206.94 million versus $207.64 million estimated by three analysts on average.
• Non-Interest Income- Total commercial banking: $18.83 million versus the three-analyst average estimate of $20.63 million.
• Non-Interest Income- Total consumer banking: $11.67 million compared to the $12.12 million average estimate based on three analysts.
• Net Interest Income (FTE): $211.53 million compared to the $210.27 million average estimate based on three analysts.
• Non-Interest Income- Commercial banking- Other commercial banking: $3.38 million compared to the $3.25 million average estimate based on two analysts.

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

Shares of Fulton Financial have returned -0.1% over the past month versus the Zacks S&P 500 composite's -0.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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