Fulton Financial Corporation
- Open
- 23.80
- Day high
- 24.05
- Day low
- 23.75
- Prev close
- 23.69
- Volume
- 1.2M
- Mkt cap
- $4.6B
- P/E (TTM)
- 11.4
- EPS (TTM)
- $2.09
- P/B
- 1.2
- P/S
- 2.4
- Yield
- 3.14%
- Per share
- $0.75
- ▼Insiders net selling -$534K over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions accumulating (13F)
Fulton Financial Corporation (FULT) is a Financial Services company listed on NASDAQ. The stock is up 21% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4). Drillr has 1 published research article covering FULT.
Fulton Financial Corporation (FULT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FULT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 23, 2026 | $0.41 | $0.52 | +25.3% | $368M | +2.7% |
| Apr 23, 2026 | $0.50 | $0.55 | +9.6% | $336M | +0.3% |
| Jan 21, 2026 | $0.52 | $0.55 | +5.6% | $334M | +1.2% |
| Oct 21, 2025 | $0.49 | $0.55 | +12.7% | $334M | -0.2% |
| Jul 15, 2025 | $0.43 | $0.55 | +27.3% | $324M | -2.1% |
| Apr 15, 2025 | $0.41 | $0.52 | +25.9% | $318M | +1.6% |
| Jan 21, 2025 | $0.42 | $0.48 | +14.3% | $324M | +5.3% |
| Oct 15, 2024 | $0.43 | $0.50 | +15.2% | $325M | +2.6% |
| Jul 16, 2024 | $0.30 | $0.47 | +55.1% | $266M | +12.1% |
| Apr 16, 2024 | $0.39 | $0.40 | +2.6% | $264M | -1.6% |
| Jan 16, 2024 | $0.40 | $0.42 | +4.5% | $271M | +25.3% |
| Oct 17, 2023 | $0.41 | $0.42 | +2.4% | $270M | +29.4% |
FULT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Sep 2, 2026 | Gremer Kevin Cofficer: SEVP Chief Operations & Tech | Option | 2,666 | — |
| Sep 1, 2026 | Mauriello Josephine Eofficer: SEVP Head of Consumer Banking | Tax | 420 | $23.68 |
| Sep 1, 2026 | Mauriello Josephine Eofficer: SEVP Head of Consumer Banking | Option | 420 | — |
| Aug 6, 2026 | Crutchfield Lisadirector | Sell | 4,100 | $24.80 |
| Aug 4, 2026 | Sargent Angela Mofficer: SEVP & Chief Info Officer | Sell | 12,562 | $24.84 |
| Jul 14, 2026 | Wenger E Philipdirector | Sell | 5,000 | $24.14 |
| Jun 3, 2026 | Crutchfield Lisadirector | Grant | 4,222 | — |
| May 5, 2026 | Mueller Meg Rofficer: SEVP | Option | 130 | — |
| May 5, 2026 | Mueller Meg Rofficer: SEVP | Tax | 130 | $21.62 |
| May 5, 2026 | Cossetti Anthonyofficer: Chief Accounting Officer | Tax | 1,507 | $21.62 |
| May 5, 2026 | Myers Curtis Jdirector, officer: Chairman & CEO | Sell | 30,748 | $21.26 |
| May 5, 2026 | Fiol Andrew Bofficer: Sr Executive Vice President | Option | 34,272 | — |
| May 5, 2026 | Sargent Angela Mofficer: SEVP & Chief Info Officer | Option | 29,157 | — |
| May 5, 2026 | Taylor Bernadette Mofficer: Sr Executive Vice President | Tax | 9,475 | $21.62 |
| May 5, 2026 | Glover John Jofficer: SEVP | Option | 4,033 | — |
Source: FULT SEC Form 4 filings, latest Sep 2, 2026. For informational purposes only — not investment advice.
See the full FULT insider & 13F page →Fulton Financial Corporation company profile
Overview
Fulton Financial Corporation (NASDAQ:FULT) is a regional banking company founded in 1882 and headquartered in Lancaster, Pennsylvania. The company operates as a financial holding company providing consumer and commercial banking services across Pennsylvania, Maryland, Delaware, New Jersey, and Virginia. Fulton has grown through both organic expansion and strategic acquisitions, most notably completing the integration of Republic Bank in 2024, which significantly expanded its footprint and asset base. The bank currently operates with over $32 billion in total assets and serves customers through a network of traditional branches, ATMs, and digital banking platforms.
Business
Fulton Financial operates in the regional banking industry, serving as a traditional community bank that provides a full range of financial services to consumers, small businesses, and commercial clients. Regional banks like Fulton occupy the middle tier of the banking industry, larger than community banks but smaller than national money center banks, typically serving specific geographic regions with deep local market knowledge. The company's core business segments include: 1. **Commercial Banking** (approximately 60% of loan portfolio) - This segment provides lending services to businesses including commercial real estate loans for office buildings, retail spaces, and industrial properties; commercial and industrial loans for working capital and equipment financing; and construction loans for development projects. The bank also offers cash management services, letters of credit, and treasury management solutions to business clients. 2. **Consumer Banking** (approximately 40% of loan portfolio) - This division focuses on individual customers, offering residential mortgages including jumbo loans, home equity loans and lines of credit, automobile financing, personal loans, and checking account overdraft protection. Consumer banking also encompasses traditional deposit products like checking accounts, savings accounts, certificates of deposit, and individual retirement accounts. 3. **Wealth Management Services** - This smaller but growing segment provides investment management, trust services, brokerage services, insurance products, and investment advisory services to affluent individuals and families. This business generates fee-based income and helps diversify revenue beyond traditional lending. The bank operates through multiple channels including physical branch locations, ATM networks, telephone banking, mobile banking applications, and online banking platforms to serve its customer base across its five-state footprint.
Revenue model
Fulton Financial generates revenue through traditional banking activities, primarily earning money on the spread between what it pays depositors for their funds and what it charges borrowers for loans. This net interest income represents the largest portion of the bank's revenue, accounting for approximately 85% of total income. The bank's primary revenue streams include: **Net Interest Income** - Fulton collects deposits from consumers and businesses, paying them interest rates typically ranging from 0% on checking accounts to 4-5% on certificates of deposit. It then lends these funds at higher rates, currently earning 6-8% on commercial loans and 5-7% on consumer loans, capturing the spread as profit. The bank's net interest margin of approximately 3.4% reflects this core profitability driver. **Fee-Based Income** - The remaining 15% of revenue comes from various fees including wealth management advisory fees, cash management service charges, loan origination fees, deposit account maintenance fees, and transaction processing fees. The wealth management division generates recurring fee income based on assets under management. **Factors Affecting Profitability:** Interest rate movements significantly impact Fulton's margins. When the Federal Reserve raises rates, the bank benefits as loan yields typically increase faster than deposit costs, expanding net interest margins. Conversely, falling rates compress margins as loan yields decline while deposit costs remain sticky downward. The bank's current asset-sensitive position means it benefits from rising rates but faces margin pressure when rates fall. Credit quality directly affects profitability through loan loss provisions. Economic downturns, rising unemployment, or sector-specific stress (such as commercial real estate challenges) can increase charge-offs and require higher reserves, reducing net income. Fulton's diverse loan portfolio across multiple states and sectors provides some protection against concentrated losses. Competition from larger national banks, credit unions, and fintech companies pressures both loan pricing and deposit rates. Larger banks can often offer lower loan rates due to funding advantages, while fintech companies may provide more convenient digital services, forcing traditional banks to invest heavily in technology while maintaining competitive pricing.
Competitive moat
Fulton Financial's competitive moat is relatively modest, typical of regional banks that rely primarily on local market relationships and geographic convenience rather than unique products or services. The bank's primary defensive characteristics include its established branch network across five Mid-Atlantic states, which provides convenient access for customers who value in-person banking relationships, particularly small business owners and older consumers who prefer traditional banking channels. The company benefits from switching costs associated with banking relationships, as customers often maintain accounts with the same institution for years due to the inconvenience of changing direct deposits, automatic payments, and established credit relationships. Small business customers particularly value relationship banking where they can work with the same loan officers and branch managers over time, creating some customer stickiness. However, Fulton's moat faces significant challenges from multiple directions. **Digital disruption** from fintech companies and online banks threatens traditional branch-based banking by offering higher deposit rates, lower fees, and more convenient digital experiences. **Large national banks** like JPMorgan Chase and Bank of America can leverage their scale to offer more competitive rates and invest more heavily in technology platforms. **Credit unions** in Fulton's markets often provide better rates to members due to their non-profit structure. The bank's recent FultonFirst transformation initiative represents an attempt to strengthen its competitive position through operational efficiency improvements and enhanced digital capabilities, but these efforts are easily replicated by competitors. Fulton's acquisition strategy, including the recent Republic Bank integration, helps achieve greater scale and market density, but the regional banking industry remains highly fragmented with numerous competitors pursuing similar strategies. Overall, Fulton operates in a commoditized industry with limited differentiation opportunities, making its moat narrow and susceptible to competitive pressures from both traditional and non-traditional financial service providers.
Risks & safety
Fulton Financial presents a moderate margin of safety typical of well-capitalized regional banks, though banking sector risks require careful consideration. **Liquidity and Solvency:** - Strong cash position with $1.0 billion in cash and short-term investments - Debt-to-equity ratio of 0.51, indicating conservative leverage - Total deposits of approximately $26 billion provide stable funding base - Well-capitalized with regulatory capital ratios above required minimums **Credit Quality:** - Allowance for credit losses at 1.59% of total loans, indicating prudent reserving - Nonperforming loan ratio has been declining - Diversified loan portfolio across geographies and sectors reduces concentration risk - Net charge-offs have decreased recently **Valuation Metrics:** - Price-to-earnings ratio of 8.9x appears reasonable for a regional bank - Price-to-book ratio of 1.01x suggests trading near tangible book value - EV/EBITDA of 3.6x indicates modest valuation - Graham number suggests potential undervaluation at current levels **Key Risks:** - Interest rate sensitivity could pressure margins in declining rate environment - Commercial real estate exposure requires monitoring given sector headwinds - Integration costs from Republic Bank acquisition may temporarily impact profitability - Regional banking consolidation pressure may limit growth opportunities
Recent development
Over the past few years, Fulton Financial has undergone significant strategic transformation focused on growth through acquisition and operational efficiency improvements. The most significant development was the **completion and integration of the Republic Bank acquisition in 2024**, which added $4.6 billion in deposits and $2.7 billion in loans, representing 21% and 13% growth respectively. This transaction significantly expanded Fulton's market presence and scale, with management successfully achieving the targeted $60 million in annual cost savings. Simultaneously, the company launched the **FultonFirst transformation initiative**, a comprehensive 12-18 month operational overhaul designed to simplify the bank's operating model and enhance productivity. This initiative involves consolidating credit organizations, realigning commercial segments, and investing heavily in the business banking segment. Management expects FultonFirst to deliver approximately $25 million in cost savings during 2025, growing to over $50 million annually by 2026, while also funding reinvestment in growth initiatives. The bank has also focused on **digital transformation**, reporting 6 million monthly digital interactions and expanding online and mobile banking capabilities to compete with fintech offerings. Fulton launched a Diverse Business Banking program to capture underserved market segments and has been strategically opening new financial centers while consolidating others to optimize its branch network. **Capital allocation strategy** has emphasized both organic growth and shareholder returns, with the company increasing its quarterly dividend twice and conducting share repurchases when shares trade below intrinsic value. Management has indicated continued interest in strategic acquisitions targeting $1-5 billion community banks that can provide geographic expansion and operational synergies. Looking forward, Fulton is positioning itself for continued consolidation opportunities in the fragmented regional banking market while focusing on operational efficiency gains from recent investments in technology and process improvements.
FULT company profile · for informational purposes only — not investment advice.
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