Fulton Financial (FULT) shares ended the last trading session 6.9% higher at $16.27. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.7% loss over the past four weeks.
Fulton Financial stock surged during a broad market rally, driven by President Donald Trump’s announcement of a 90-day tariff pause for non-retaliating nations. This news boosted investor confidence, triggering a sharp rise in FULT shares.
This financial holding company is expected to post quarterly earnings of $0.44 per share in its upcoming report, which represents a year-over-year change of +10%. Revenues are expected to be $317.9 million, up 38% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Fulton Financial, the consensus EPS estimate for the quarter has been revised 1.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on FULT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Fulton Financial is part of the Zacks Banks - Northeast industry. Financial Institutions (FISI), another stock in the same industry, closed the last trading session 5.1% higher at $23.01. FISI has returned -15.4% in the past month.
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Fulton Financial Corporation (FULT): Free Stock Analysis Report Financial Institutions, Inc. (FISI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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