Fulton Financial (FULT) reported $274.25 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 1.6%. EPS of $0.43 for the same period compares to $0.48 a year ago.
The reported revenue represents a surprise of +2.05% over the Zacks Consensus Estimate of $268.75 million. With the consensus EPS estimate being $0.40, the EPS surprise was +7.50%.
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: 61.5% compared to the 61.9% average estimate based on four analysts.
- Net Interest Margin: 3.4% versus 3.2% estimated by four analysts on average.
- Average Balance – Total interest earning assets: $25.58 billion compared to the $25.84 billion average estimate based on three analysts.
- Total Non-Interest Income: $55.96 million compared to the $58.89 million average estimate based on four analysts.
- Mortgage Banking Income: $3.19 million compared to the $2.94 million average estimate based on four analysts.
- Non-Interest Income- Total consumer banking income: $12.17 million versus the three-analyst average estimate of $12.01 million.
- Net Interest Income (FTE): $218.28 million versus $209.71 million estimated by three analysts on average.
- Other non-interest (loss) income: $1.46 million versus the three-analyst average estimate of $4.18 million.
- Wealth management: $19.41 million versus the three-analyst average estimate of $18.98 million.
- Non-Interest Income- Total commercial banking income: $19.72 million compared to the $21.12 million average estimate based on three analysts.
- Net Interest Income: $213.84 million versus the three-analyst average estimate of $205.49 million.
- Non-Interest Income- Consumer banking income- Card income: $6.77 million versus $6.80 million estimated by two analysts on average.
View all Key Company Metrics for Fulton Financial here>>>
Shares of Fulton Financial have returned -2.3% over the past month versus the Zacks S&P 500 composite’s -1.6% 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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