Fulton Financial (FULT) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended December 2023, Fulton Financial (FULT) reported revenue of $275.93 million, down 3% over the same period last year. EPS came in at $0.42, compared to $0.48 in the year-ago quarter.
The reported revenue represents a surprise of +2.83% over the Zacks Consensus Estimate of $268.35 million. With the consensus EPS estimate being $0.42, the company has not delivered EPS surprise.
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: 62% compared to the 62.5% average estimate based on two analysts.
Average Balance - Total interest earning assets: $25.64 billion compared to the $25.68 billion average estimate based on two analysts.
Net Interest Margin: 3.4% versus 3.3% estimated by two analysts on average.
Net Interest Income: $212.01 million versus $209.01 million estimated by two analysts on average.
Non-Interest Income- Total commercial banking income: $20.78 million compared to the $19.07 million average estimate based on two analysts.
Non-Interest Income- Total consumer banking income: $12.09 million versus $12.10 million estimated by two analysts on average.
Net Interest Income (FTE): $216.56 million versus the two-analyst average estimate of $213.32 million.
Mortgage Banking Income: $2.29 million versus $2.94 million estimated by two analysts on average.
Other non-interest (loss) income: $5.59 million versus the two-analyst average estimate of $3.99 million.
Total Non-Interest Income: $59.38 million versus the two-analyst average estimate of $57.84 million.
Wealth management: $19.39 million compared to the $19.70 million average estimate based on two analysts.
View all Key Company Metrics for Fulton Financial here>>>
Shares of Fulton Financial have returned -3% over the past month versus the Zacks S&P 500 composite's +1.6% 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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Fulton Financial Corporation (FULT) : Free Stock Analysis Report
