Stock of the Day

March 29, 2023

Fulton Financial (FULT)

$23.46
-$0.21 (-0.9%)
Market Cap: $4.52B

About Fulton Financial

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company offers consumer loans products, 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 offers 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 trust preferred securities; and sells various life insurance products. It provides its products and services through financial center offices, as well as through a network of automated teller machines, telephone banking, mobile banking, and online banking. Fulton Financial Corporation was founded in 1882 and is headquartered in Lancaster, Pennsylvania.

Today's Trend

Fulton Financial Corporation (NASDAQ: FULT) rose after reporting a strong second quarter that beat Wall Street expectations and showed improving momentum in earnings and revenue.

  • Fulton Financial beat Q2 estimates, reporting adjusted EPS of $0.60 versus the $0.53 consensus and revenue of $363.56 million versus $358.83 million expected, signaling solid operating performance. Fulton Financial earnings report and transcript
  • Management said acquisition benefits are helping lift earnings, and the company forecast 2026 net interest income of $1.12 billion to $1.135 billion while it integrates Blue Foundry, suggesting continued growth potential. Seeking Alpha forecast article
  • In the company’s earnings call and transcript, Fulton Financial highlighted Q2 results and integration progress, but no major new guidance changes beyond the net interest income outlook were disclosed. TipRanks earnings call summary
  • Reported net income available to common shareholders was $99.9 million, or $0.52 per diluted share, up modestly from Q1, reinforcing steady but not dramatic earnings growth. PR Newswire Q2 results

Overall, FULT appears to be moving higher on the back of an earnings beat, revenue growth, and upbeat commentary about acquisition-driven earnings support.

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