Fulton Financial (FULT) AI Stock Analysis

• Market Cap: $3.78B
• Dividend Yield: 3.52%
• Average Volume (3M): 1.76M
• Price to Earnings (P/E): 10.1
• Beta (1Y): 1.08
• Revenue Growth: 9.60%
• EPS Growth: 20.38%
• Country: US
• Employees: 3,400
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.53
• Shares Outstanding: 179,895,130
• 10 Day Avg. Volume: 2,306,298
• 30 Day Avg. Volume: 1,761,122
• PEG Ratio: -2.78
• Price to Book (P/B): 1.06
• Price to Sales (P/S): 1.88
• P/FCF Ratio: 9.05
• Enterprise Value/Market Cap: 1.30
• Enterprise Value/Revenue: 2.58
• Enterprise Value/Gross Profit: 3.92
• Enterprise Value/Ebitda: 9.58
• 1Y Price Target: $22.00
• Price Target Upside: 1.90% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 75 Outperform
• Price Target: $22.50 ▲(4.21% Upside)

The score is driven primarily by solid financial fundamentals (good margins and cash flow despite weaker revenue growth) and attractive valuation (low P/E with a strong dividend). Technicals are supportive with price above key moving averages and positive MACD, while the earnings call was broadly constructive with clear guidance but notable execution and rate/acquisition assumptions.

Positive Factors

Strong free cash flow generation

Sustained free cash flow growth enhances the bank’s ability to fund dividends, buybacks, and organic investments without relying on external financing. This improves financial flexibility and supports capital return policies and strategic initiatives over the next several quarters.

Deposit momentum and product traction

Healthy deposit inflows and strong DDA openings underpin stable low-cost funding, reducing reliance on wholesale funding. Durable deposit growth supports lending capacity, NIM stability, and funding cost advantages over multiple interest-rate cycles.

Strategic M&A to expand footprint

A planned, accretive acquisition that broadens geographic reach and customer base strengthens scale and cross-sell opportunities. If integrated well, the deal can increase revenue diversification and long-term market share in adjacent markets.

Negative Factors

Slowing revenue growth trend

A persistent slowdown in top-line growth constrains the bank’s ability to leverage operating expenses and lift returns on equity. Over several quarters, weaker revenue trends can limit earnings upside even with margin or cost improvements.

Derisking actions weighed on loan growth

Substantial portfolio runoffs and resolved adversely rated loans reduce interest-earning assets and organic loan growth. This deliberate derisking can meaningfully depress long-term loan growth and recurring net interest income for multiple quarters.

Guidance hinges on Fed cuts and deal timing

Forward guidance dependent on macro moves and transaction timing creates execution risk. If rate cuts are delayed or the acquisition is postponed, projected NII, expense synergies and capital planning could be materially affected over the next several quarters.

Fulton Financial Business Overview & Revenue Model

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.

How the Company Makes Money

Fulton Financial generates revenue primarily through interest income, which comes from loans made to individuals and businesses, as well as from investment securities. The bank earns interest on various loan products, including commercial loans, residential mortgages, and consumer loans. Additionally, Fulton Financial generates non-interest income through fees for services such as ATM transactions, account maintenance, investment management, and financial advisory services. The company also benefits from wealth management services, which include trust services and investment products. Strategic partnerships with other financial institutions and service providers further enhance their service offerings and contribute to their overall revenue. Overall, Fulton Financial's diverse revenue streams enable it to maintain a stable financial performance in varying economic conditions.

Fulton Financial Financial Statement Overview

Summary

Financial statements indicate solid overall health: healthy profitability margins and strong free cash flow growth support the score, while declining revenue growth and relatively low return on equity temper it.

Income Statement

Fulton Financial's income statement shows mixed results. The TTM data indicates a decline in revenue growth rate, which is concerning. However, the company maintains a solid gross profit margin and a stable net profit margin, indicating operational efficiency. The EBIT and EBITDA margins are healthy, reflecting good profitability despite revenue challenges.

Balance Sheet

The balance sheet reveals a moderate debt-to-equity ratio, which has improved over the years, indicating better leverage management. Return on equity is relatively low, suggesting limited profitability from shareholders' investments. The equity ratio is stable, showing a balanced financial structure.

Cash Flow

Cash flow analysis shows strong free cash flow growth in the TTM period, which is a positive indicator of financial health. The operating cash flow to net income ratio is low, suggesting potential issues in converting income into cash. However, the free cash flow to net income ratio is robust, highlighting effective cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.90B	1.80B	1.50B	1.09B	997.16M	972.27M
Gross Profit	1.25B	1.13B	1.03B	988.70M	952.08M	781.67M
EBITDA	512.73M	401.62M	381.72M	378.95M	363.64M	231.57M
Net Income	361.26M	288.74M	284.28M	286.98M	275.50M	178.04M
Balance Sheet
Total Assets	32.00B	32.07B	27.57B	26.93B	25.80B	25.91B
Cash, Cash Equivalents and Short-Term Investments	3.33B	3.37B	2.93B	3.31B	4.83B	4.91B
Total Debt	1.47B	1.78B	2.49B	2.87B	1.45B	1.93B
Total Liabilities	28.58B	28.87B	24.81B	24.35B	23.08B	23.29B
Stockholders Equity	3.41B	3.20B	2.76B	2.58B	2.71B	2.62B
Cash Flow
Free Cash Flow	280.97M	374.11M	330.03M	573.54M	320.71M	137.13M
Operating Cash Flow	336.40M	416.56M	362.98M	594.79M	338.39M	157.37M
Investing Cash Flow	-402.99M	1.63B	-809.22M	-1.54B	-210.09M	-2.50B
Financing Cash Flow	-559.90M	-1.53B	314.02M	-15.90M	-337.52M	3.67B

Fulton Financial Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 21.59
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FULT, the sentiment is Positive. The current price of 21.59 is above the 20-day moving average (MA) of 20.32, above the 50-day MA of 19.75, and above the 200-day MA of 18.39, indicating a bullish trend. The MACD of 0.48 indicates Negative momentum. The RSI at 70.30 is Negative, neither overbought nor oversold. The STOCH value of 90.50 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FULT.

Fulton Financial Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INDB	79 Outperform	$4.06B	18.49	6.25%	3.05%	11.05%	-10.78%
FBP	77 Outperform	$3.55B	10.46	18.97%	3.38%	2.35%	13.72%
FULT	75 Outperform	$3.78B	10.11	10.92%	3.52%	9.60%	20.38%
CATY	74 Outperform	$3.58B	11.58	10.63%	2.72%	-1.59%	9.34%
FIBK	73 Outperform	$3.79B	12.52	8.95%	5.24%	-5.43%	4.19%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
TBBK	65 Neutral	$2.76B	12.32	30.85%	―	29.24%	21.49%

Fulton Financial Corporate Events

Fulton Financial Announces Dividend Increase and Buyback

On December 16, 2025, Fulton Financial Corporation announced an increase in its quarterly cash dividend to nineteen cents per share on its common stock, payable on January 15, 2026. The Board also declared a quarterly dividend on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, and approved a $150 million share repurchase program commencing January 1, 2026. This strategic move reflects Fulton’s confidence in its financial strength and commitment to shareholder value, potentially impacting its market positioning and stakeholder interests.

The most recent analyst rating on (FULT) stock is a Buy with a $21.50 price target. To see the full list of analyst forecasts on Fulton Financial stock, see the FULT Stock Forecast page.

Fulton Financial Announces Merger with Blue Foundry

On November 24, 2025, Fulton Financial Corporation announced a merger agreement with Blue Foundry Bancorp, where Blue Foundry will merge into Fulton, and Blue Foundry Bank will merge into Fulton Bank, N.A. This strategic move, unanimously approved by both companies’ boards, aims to enhance Fulton’s market position and operational capabilities. The agreement outlines the conversion of Blue Foundry’s common stock into Fulton’s stock and cash, with specific conditions for stock options and restricted stock awards. The merger is subject to regulatory approvals and other customary conditions, with a termination fee applicable under certain circumstances.

The most recent analyst rating on (FULT) stock is a Hold with a $22.00 price target. To see the full list of analyst forecasts on Fulton Financial stock, see the FULT Stock Forecast page.

Fulton Financial Announces Merger with Blue Foundry Bancorp

On November 24, 2025, Fulton Financial Corporation announced a merger agreement to acquire Blue Foundry Bancorp in an all-stock transaction valued at approximately $243 million. This strategic move aims to expand Fulton’s presence in northern New Jersey, with the merger expected to be accretive to earnings and neutral to regulatory capital ratios. The merger, approved by both companies’ boards, is anticipated to close in the second quarter of 2026, subject to customary conditions. The merger will enhance Fulton’s banking services and community support, aligning with its growth strategy and benefiting stakeholders by providing greater resources and convenience.

The most recent analyst rating on (FULT) stock is a Hold with a $22.00 price target. To see the full list of analyst forecasts on Fulton Financial stock, see the FULT Stock Forecast page.