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Compared to Estimates, Fulton Financial (FULT) Q2 Earnings: A Look at Key Metrics
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Fulton Financial (FULT - Free Report) reported $277.84 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 15.5%. EPS of $0.47 for the same period compares to $0.42 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $270.3 million, representing a surprise of +2.79%. The company delivered an EPS surprise of +11.90%, with the consensus EPS estimate being $0.42.
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 [%]: 60.1% versus the four-analyst average estimate of 59.32%.
Net Interest Margin [%]: 3.4% versus 3.39% estimated by four analysts on average.
Average Balance - Total interest earning assets: $25.63 billion compared to the $25.64 billion average estimate based on three analysts.
Total Non-Interest Income: $60.59 million versus $55.21 million estimated by four analysts on average.
Mortgage Banking Income: $2.94 million compared to the $2.32 million average estimate based on four analysts.
Other non-interest (loss) income: $4.11 million versus $3.75 million estimated by three analysts on average.
Wealth management: $18.68 million versus $18.47 million estimated by three analysts on average.
Net Interest Income: $212.85 million versus $212.99 million estimated by three analysts on average.
Non-Interest Income- Total commercial banking income: $23.15 million versus $18.95 million estimated by three analysts on average.
Non-Interest Income- Total consumer banking income: $11.72 million versus $11.66 million estimated by three analysts on average.
Net Interest Income (FTE): $217.26 million compared to the $216.34 million average estimate based on three analysts.
Non-Interest Income- Commercial banking income- Other commercial banking income: $3.52 million compared to the $3 million average estimate based on two analysts.
Shares of Fulton Financial have returned -3.4% over the past month versus the Zacks S&P 500 composite's +2.7% 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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Compared to Estimates, Fulton Financial (FULT) Q2 Earnings: A Look at Key Metrics
Fulton Financial (FULT - Free Report) reported $277.84 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 15.5%. EPS of $0.47 for the same period compares to $0.42 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $270.3 million, representing a surprise of +2.79%. The company delivered an EPS surprise of +11.90%, with the consensus EPS estimate being $0.42.
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 [%]: 60.1% versus the four-analyst average estimate of 59.32%.
- Net Interest Margin [%]: 3.4% versus 3.39% estimated by four analysts on average.
- Average Balance - Total interest earning assets: $25.63 billion compared to the $25.64 billion average estimate based on three analysts.
- Total Non-Interest Income: $60.59 million versus $55.21 million estimated by four analysts on average.
- Mortgage Banking Income: $2.94 million compared to the $2.32 million average estimate based on four analysts.
- Other non-interest (loss) income: $4.11 million versus $3.75 million estimated by three analysts on average.
- Wealth management: $18.68 million versus $18.47 million estimated by three analysts on average.
- Net Interest Income: $212.85 million versus $212.99 million estimated by three analysts on average.
- Non-Interest Income- Total commercial banking income: $23.15 million versus $18.95 million estimated by three analysts on average.
- Non-Interest Income- Total consumer banking income: $11.72 million versus $11.66 million estimated by three analysts on average.
- Net Interest Income (FTE): $217.26 million compared to the $216.34 million average estimate based on three analysts.
- Non-Interest Income- Commercial banking income- Other commercial banking income: $3.52 million compared to the $3 million average estimate based on two analysts.
View all Key Company Metrics for Fulton Financial here>>>Shares of Fulton Financial have returned -3.4% over the past month versus the Zacks S&P 500 composite's +2.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.