Download PDF

1. Company Snapshot

1.a. Company Description

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services.It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.The company also offers secured consumer loans, including home equity loans and lines of credit, automobile loans, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial real estate, commercial and industrial, and construction loans, as well as equipment lease financing loans.


In addition, it provides letters of credit, cash management services, and traditional deposit products; and wealth management services, including investment management, trust, brokerage, insurance, and investment advisory services.Further, the company owns passive investments, as well as trust preferred securities; and sells various life insurance products.It provides its products and services through traditional financial center banking, as well as through a network of automated teller machines, telephone banking, mobile banking, and online banking.


The company operated branches in Pennsylvania, Maryland, Delaware, New Jersey, and Virginia.Fulton Financial Corporation was incorporated in 1882 and is headquartered in Lancaster, Pennsylvania.

Show Full description

1.b. Last Insights on FULT

Fulton Financial Corporation's recent performance was positively driven by its Q4 earnings beat, with quarterly earnings of $0.55 per share, exceeding the Zacks Consensus Estimate of $0.52 per share. The company's net income available to common shareholders was $96.4 million, or $0.53 per diluted share, for Q4 2025. Additionally, the Board of Directors declared a quarterly cash dividend of nineteen cents per share on its common stock and announced a $150 million repurchase program, signaling confidence in its financial position. (Source: PRNewswire, Jan 21, 2026)

1.c. Company Highlights

2. Fulton Financial's Strong 2025 Results and Promising 2026 Outlook

Fulton Financial reported robust operating earnings per share of $2.16 for 2025, a record high, driven by significant customer deposit growth of $449 million, largely fueled by a 25% surge in consumer demand deposit account openings. The company's net interest margin stood at 3.51%, a testament to its effective management of cost of funds. In the fourth quarter, operating earnings per diluted share were $0.55, beating estimates of $0.52, with operating net income available to common shareholders reaching $99.4 million. The company's loan and deposit growth both stood at 3.9%, primarily driven by its consumer business.

Publication Date: Feb -09

📋 Highlights
  • Record Operating Earnings Per Share (2025): Hit $2.16, a new high driven by deposit and loan growth.
  • Deposit Growth Surge: Increased $449 million, with 25% more consumer demand deposit accounts opened.
  • Strong Net Interest Margin: Maintained at 3.51% amid effective cost-of-funds management.
  • 2026 Net Interest Income Guidance: Projected $1.120–$1.140 billion, reflecting stable loan growth expectations.
  • Share Repurchases: Retired 1.1 million shares at $18.34 avg. cost and authorized $150 million for buybacks through 2027.

2026 Guidance and Strategic Initiatives

Fulton Financial provided 2026 operating guidance, projecting net interest income between $1.120 billion and $1.140 billion, loan loss provision expense ranging from $55 million to $75 million, and noninterest income between $285 million and $300 million. The company anticipates strengthening its footprint through the acquisition of Blue Foundry Bancorp, expected to close early in the second quarter of 2026. This move is poised to reinforce its community banking model. Additionally, the company has a new share repurchase authorization of $150 million through January 2027, indicating confidence in its stock.

Balance Sheet Strength and Capital Management

The company's tangible common equity to tangible asset ratio improved to 8.5%, while its CET1 ratio increased to 11.8%, reflecting a strong capital position. Fulton Financial repurchased 1.1 million shares at a weighted average cost of $18.34. With a CRE concentration below 200%, the company is well-positioned for organic growth across various categories, expecting to return to its historical mid-single-digit loan growth rate in 2026.

Valuation and Outlook

Given the current 'P/B Ratio' of 1.19 and 'P/E Ratio' of 10.65, the market appears to have moderate expectations from Fulton Financial. The 'Dividend Yield' of 3.21% is attractive, suggesting that the stock could be appealing to income investors. Analysts estimate next year's revenue growth at 5.7%, indicating a positive outlook. With its strong balance sheet, improving deposit momentum, and strategic initiatives, Fulton Financial is poised for continued growth.

3. NewsRoom

Card image cap

Maryland State Retirement & Pension System Decreases Stock Holdings in Fulton Financial Corporation $FULT

Jan -24

Source: defenseworld.net

Card image cap

Fulton Financial Q4 Earnings Call Highlights

Jan -24

Source: defenseworld.net

Card image cap

Fulton Financial's Strong Showing Justifies More Optimism

Jan -23

Source: seekingalpha.com

Card image cap

Fulton Financial Corporation (FULT) Q4 2025 Earnings Call Transcript

Jan -22

Source: seekingalpha.com

Card image cap

Fulton Financial (FULT) Reports Q4 Earnings: What Key Metrics Have to Say

Jan -22

Source: zacks.com

Card image cap

Fulton Financial (FULT) Tops Q4 Earnings and Revenue Estimates

Jan -21

Source: zacks.com

Card image cap

Fulton Financial Corporation Announces 2025 Fourth Quarter and Full-Year Results

Jan -21

Source: prnewswire.com

Card image cap

Fulton Financial Corporation $FULT Shares Sold by QRG Capital Management Inc.

Jan -20

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.55%)

6. Segments

Banking and Related Activities

Expected Growth: 4.55%

Fulton Financial Corporation's 4.55% growth in Banking and Related Activities is driven by increasing loan demand, expansion of commercial banking services, and strategic acquisitions. Additionally, improved credit quality, cost savings initiatives, and a favorable interest rate environment contribute to the growth. Furthermore, investments in digital banking platforms and enhanced customer experience also support the segment's growth.

7. Detailed Products

Consumer Banking

Fulton Financial Corporation offers a range of consumer banking products and services, including checking and savings accounts, credit cards, personal loans, and mortgages.

Commercial Banking

The company provides commercial banking services, including cash management, commercial lending, and treasury management solutions, to businesses of all sizes.

Wealth Management

Fulton Financial Corporation offers wealth management services, including investment management, trust services, and retirement planning, to individuals, families, and institutions.

Mortgage Banking

The company provides mortgage banking services, including residential mortgage lending, to individuals and families.

Insurance Services

Fulton Financial Corporation offers insurance services, including property and casualty insurance, life insurance, and employee benefits, to individuals and businesses.

8. Fulton Financial Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Fulton Financial Corporation operates in a highly competitive industry, and customers have various alternatives to choose from. However, the company's strong brand reputation and customer loyalty mitigate the threat of substitutes.

Bargaining Power Of Customers

Fulton Financial Corporation's customers have limited bargaining power due to the company's diversified customer base and lack of concentration in a single customer segment.

Bargaining Power Of Suppliers

Fulton Financial Corporation relies on a diverse range of suppliers, reducing the bargaining power of individual suppliers. However, the company's dependence on a few key suppliers for critical services may increase their bargaining power.

Threat Of New Entrants

The banking industry has high barriers to entry, including regulatory hurdles and capital requirements, making it difficult for new entrants to compete with established players like Fulton Financial Corporation.

Intensity Of Rivalry

The banking industry is highly competitive, with many established players competing for market share. Fulton Financial Corporation faces intense rivalry from other regional banks and larger national banks.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 47.61%
Debt Cost 6.02%
Equity Weight 52.39%
Equity Cost 7.87%
WACC 6.99%
Leverage 90.86%

11. Quality Control: Fulton Financial Corporation passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Bank OZK

A-Score: 7.1/10

Value: 7.9

Growth: 8.3

Quality: 7.6

Yield: 7.0

Momentum: 4.5

Volatility: 7.0

1-Year Total Return ->

View Full Report
Stock-Card
Popular

A-Score: 6.8/10

Value: 6.7

Growth: 5.9

Quality: 7.1

Yield: 5.0

Momentum: 8.0

Volatility: 8.3

1-Year Total Return ->

View Full Report
Stock-Card
First Bank

A-Score: 6.8/10

Value: 7.1

Growth: 6.6

Quality: 8.2

Yield: 6.0

Momentum: 5.0

Volatility: 8.0

1-Year Total Return ->

View Full Report
Stock-Card
Cathay Bank

A-Score: 6.3/10

Value: 6.0

Growth: 6.1

Quality: 7.4

Yield: 6.0

Momentum: 4.5

Volatility: 7.7

1-Year Total Return ->

View Full Report
Stock-Card
Fulton Financial

A-Score: 6.2/10

Value: 6.3

Growth: 6.3

Quality: 6.1

Yield: 8.0

Momentum: 3.0

Volatility: 7.7

1-Year Total Return ->

View Full Report
Stock-Card
IBOC

A-Score: 5.9/10

Value: 4.7

Growth: 7.0

Quality: 6.2

Yield: 5.0

Momentum: 4.0

Volatility: 8.3

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

22.39$

Current Price

22.39$

Potential

-0.00%

Expected Cash-Flows