Is Fulton Financial (FULT) Stock Outpacing Its Finance Peers This Year?
Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Fulton Financial (FULT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Fulton Financial is a member of our Finance group, which includes 884 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Fulton Financial is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for FULT's full-year earnings has moved 4.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, FULT has gained about 0.4% so far this year. In comparison, Finance companies have returned an average of -13.3%. This means that Fulton Financial is outperforming the sector as a whole this year.
One other Finance stock that has outperformed the sector so far this year is Grupo Financiero Banorte SAB de CV (GBOOY). The stock is up 14.6% year-to-date.
In Grupo Financiero Banorte SAB de CV's case, the consensus EPS estimate for the current year increased 3.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Fulton Financial belongs to the Banks - Northeast industry, a group that includes 88 individual stocks and currently sits at #91 in the Zacks Industry Rank. This group has lost an average of 18% so far this year, so FULT is performing better in this area.
Grupo Financiero Banorte SAB de CV, however, belongs to the Financial - Miscellaneous Services industry. Currently, this 54-stock industry is ranked #83. The industry has moved -22.3% so far this year.
Investors interested in the Finance sector may want to keep a close eye on Fulton Financial and Grupo Financiero Banorte SAB de CV as they attempt to continue their solid performance.
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Fulton Financial Corporation (FULT) : Free Stock Analysis Report
Grupo Financiero Banorte SAB de CV (GBOOY) : Free Stock Analysis Report
