NEW YORK (TheStreet) -- Shares of Fulton Financial (FULT) - Get Report were increasing on heavy trading volume late Wednesday afternoon after the company posted better-than-anticipated earnings for the 2016 third quarter.
After yesterday's market close, the Lancaster, PA-based bank holding company reported earnings of 24 cents per share, topping analysts' estimates by a penny.
Revenue for the period was $178.7 million. Analysts surveyed by FactSet had expected $181.2 million.
"Despite a challenging interest rate and operating environment, we were able to grow revenues and reduce expenses, which enabled us to drive positive operating leverage for the quarter," CEO E. Philip Wenger said in a statement.
More than 1.24 million of the company's shares changed hands so far today, higher than its average 30-day volume of about 880,000 shares.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, increase in net income, growth in earnings per share and solid stock price performance. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: FULT