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Fulton Financial (FULT) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended June 2024, Fulton Financial (FULT - Free Report) 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.
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.
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Fulton Financial (FULT) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2024, Fulton Financial (FULT - Free Report) 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.