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Fulton Financial (FULT) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended September 2024, Fulton Financial (FULT - Free Report) reported revenue of $322.11 million, up 17.5% over the same period last year. EPS came in at $0.50, compared to $0.43 in the year-ago quarter.
The reported revenue represents a surprise of +0.35% over the Zacks Consensus Estimate of $321 million. With the consensus EPS estimate being $0.44, the EPS surprise was +13.64%.
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.
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: 59.6% versus 63.1% estimated by three analysts on average.
Net Interest Margin: 3.5% compared to the 3.4% average estimate based on three analysts.
Average Balance - Total Interest-Earning Assets: $30.01 billion versus $29.63 billion estimated by two analysts on average.
Total Non-Interest Income: $59.67 million versus the three-analyst average estimate of $66.76 million.
Net Interest Income (FTE): $262.43 million compared to the $255.64 million average estimate based on three analysts.
Non-Interest Income- Total consumer banking: $14.93 million versus $14.80 million estimated by two analysts on average.
Non-Interest Income- Other: $5.43 million compared to the $4.66 million average estimate based on two analysts.
Non-Interest Income- Total commercial banking: $22.29 million compared to the $21.21 million average estimate based on two analysts.
Wealth management: $21.60 million compared to the $21.10 million average estimate based on two analysts.
Mortgage banking: $3.14 million versus $3.88 million estimated by two analysts on average.
Shares of Fulton Financial have returned -0.7% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Fulton Financial (FULT) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2024, Fulton Financial (FULT - Free Report) reported revenue of $322.11 million, up 17.5% over the same period last year. EPS came in at $0.50, compared to $0.43 in the year-ago quarter.
The reported revenue represents a surprise of +0.35% over the Zacks Consensus Estimate of $321 million. With the consensus EPS estimate being $0.44, the EPS surprise was +13.64%.
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.
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: 59.6% versus 63.1% estimated by three analysts on average.
- Net Interest Margin: 3.5% compared to the 3.4% average estimate based on three analysts.
- Average Balance - Total Interest-Earning Assets: $30.01 billion versus $29.63 billion estimated by two analysts on average.
- Total Non-Interest Income: $59.67 million versus the three-analyst average estimate of $66.76 million.
- Net Interest Income (FTE): $262.43 million compared to the $255.64 million average estimate based on three analysts.
- Non-Interest Income- Total consumer banking: $14.93 million versus $14.80 million estimated by two analysts on average.
- Non-Interest Income- Other: $5.43 million compared to the $4.66 million average estimate based on two analysts.
- Non-Interest Income- Total commercial banking: $22.29 million compared to the $21.21 million average estimate based on two analysts.
- Wealth management: $21.60 million compared to the $21.10 million average estimate based on two analysts.
- Mortgage banking: $3.14 million versus $3.88 million estimated by two analysts on average.
View all Key Company Metrics for Fulton Financial here>>>Shares of Fulton Financial have returned -0.7% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.