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Fulton Financial Corp (FULT)
NASDAQ:FULT
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Fulton Financial (FULT) AI Stock Analysis

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FULT

Fulton Financial

(NASDAQ:FULT)

Rating:76Outperform
Price Target:
$22.00
▲(17.58%Upside)
Fulton Financial's overall score is driven by its strong financial performance and technical indicators, supported by a reasonable valuation and positive earnings call highlights. Recent corporate events also contribute positively to the outlook, despite some challenges in cash flow management and deposit levels.

Fulton Financial (FULT) vs. SPDR S&P 500 ETF (SPY)

Fulton Financial Business Overview & Revenue Model

Company DescriptionFulton Financial Corporation (FULT) is a U.S.-based financial holding company headquartered in Lancaster, Pennsylvania. It operates through its subsidiary, Fulton Bank, which provides a range of banking products and services to consumers and businesses. Fulton Financial serves customers primarily in the mid-Atlantic region of the United States, offering a suite of services including consumer and commercial banking, wealth management, mortgage banking, and investment services.
How the Company Makes MoneyFulton Financial Corporation generates revenue primarily through interest income from its lending activities. This includes loans to individuals, such as mortgages and personal loans, as well as commercial loans to businesses. In addition to interest income, the company earns non-interest income from fees associated with various banking services, such as transaction fees, account maintenance fees, and service charges. Another significant source of revenue is its wealth management and investment services, which provide advisory, brokerage, and investment management services to clients. Partnerships with other financial service providers and a diversified portfolio of financial products also contribute to Fulton Financial's earnings.

Fulton Financial Earnings Call Summary

Earnings Call Date:Jul 15, 2025
(Q2-2025)
|
% Change Since: -1.63%|
Next Earnings Date:Oct 21, 2025
Earnings Call Sentiment Positive
Fulton Financial had a strong quarter with record operating earnings and revenue growth driven by increases in net interest and fee income. Loan growth was robust, and efficiency improved. Despite a decline in deposits and an uptick in nonaccrual loans, the company's overall performance and strategic initiatives indicate a positive outlook.
Q2-2025 Updates
Positive Updates
Record Operating Earnings
Fulton Financial reported record operating earnings of $106 million or 55¢ per share, marking a $0.03 increase from the previous quarter.
Strong Revenue Growth
Total revenue increased due to growth in net interest income and fee income, with a net interest margin increase of four basis points to 3.47%.
Loan Growth Achievement
Total loans grew by $150 million or 2.5% during the quarter, primarily in the residential mortgage portfolio, home equity portfolio, and certain commercial categories.
Efficiency and Profitability
The quarterly efficiency ratio was 57.1%, with an operating return on average assets at 1.3% and operating return on average tangible common equity at 16.26%.
Share Repurchase and Tangible Book Value Growth
Fulton Financial repurchased shares and grew tangible book value per share by 9.5% on a linked quarter annualized basis.
Fee Income Growth
Strong linked quarter increase in noninterest income, with all noninterest income categories growing, including all-time highs in wealth management and commercial banking fees.
Negative Updates
Deposit Decline
Deposits declined by $191 million or 2.9%, influenced by seasonal declines in municipal balances and noninterest-bearing balances.
Nonaccrual Loan Uptick
An uptick in nonaccrual loans was noted, although these balances remain in line with recent periods.
Cost of Subordinated Debt Increase
Subordinated debt reset to floating rate increased the rate from a fixed 3.25% to approximately 6.6%, impacting overall expenses.
Company Guidance
In the Fulton Financial Second Quarter 2025 Results Conference Call, Curtis Myers, Chairman and CEO, and Richard Kraemer, CFO, provided detailed financial guidance and updates. Operating earnings were reported at $106 million or 55¢ per share, marking a $0.03 increase from the previous quarter, with a record efficiency ratio of 57.1%. The operating return on average assets was 1.3%, and the operating return on average tangible common equity reached 16.26%. Total loans grew by $150 million, a 2.5% increase, bolstered by strong originations despite a strategic runoff in the indirect auto portfolio. Deposits, however, declined by $191 million, with noninterest-bearing balances representing 20% of total deposits. The net interest margin increased to 3.47%, while the cost of total deposits decreased to 1.98%. Noninterest income rose to $69.1 million, with wealth management achieving an all-time high in quarterly revenue. Kraemer adjusted the 2025 guidance, anticipating net interest income between $1.005 billion to $1.025 billion, and revised the provision expense to $50 million-$70 million. Operating expenses are projected to range from $750 million to $765 million, with an effective tax rate adjustment to 18.5%-19.5%.

Fulton Financial Financial Statement Overview

Summary
Fulton Financial shows strong profitability with a consistent gross profit margin and a healthy balance sheet. Despite some challenges in revenue and cash flow, leverage and equity position remain solid.
Income Statement
75
Positive
The income statement shows strong profitability with a consistent gross profit margin of approximately 89%. The net profit margin for TTM is 18.29%, slightly improving from 16.03% in the previous year. Revenue growth is modest at 2.98% from 2022 to 2023. The EBIT margin remains strong at 24.21% for TTM. However, there is a slight decline in revenue from 2024 to TTM, indicating potential challenges in revenue generation.
Balance Sheet
70
Positive
Fulton Financial maintains a healthy balance sheet with an improving equity ratio of 10.19% in TTM. The debt-to-equity ratio is favorable at 0.51, showing manageable leverage. ROE is strong at 9.76% for TTM, although slightly declining from 9.03% in 2024. The company demonstrates stability with a consistent increase in stockholders' equity.
Cash Flow
65
Positive
Cash flow analysis reveals a decrease in operating cash flow in TTM compared to 2024, but free cash flow remains positive. The operating cash flow to net income ratio is 1.12, indicating efficient cash generation relative to income. Free cash flow growth rate is negative, highlighting challenges in cash flow management. The free cash flow to net income ratio of 0.69 suggests adequate cash generation to cover net income.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue1.80B1.50B1.09B997.16M972.27M
Gross Profit1.13B1.03B988.70M952.08M781.67M
EBITDA401.62M381.72M378.95M363.64M231.57M
Net Income288.74M284.28M286.98M275.50M178.04M
Balance Sheet
Total Assets32.07B27.57B26.93B25.80B25.91B
Cash, Cash Equivalents and Short-Term Investments3.37B2.93B3.31B4.83B4.91B
Total Debt1.78B2.49B2.87B1.45B1.93B
Total Liabilities28.87B24.81B24.35B23.08B23.29B
Stockholders Equity3.20B2.76B2.58B2.71B2.62B
Cash Flow
Free Cash Flow374.11M330.03M577.02M320.71M137.13M
Operating Cash Flow416.56M362.98M598.27M338.39M157.37M
Investing Cash Flow1.63B-809.22M-1.54B-210.09M-2.50B
Financing Cash Flow-1.53B314.02M-15.90M-337.52M3.67B

Fulton Financial Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price18.71
Price Trends
50DMA
18.01
Positive
100DMA
17.49
Positive
200DMA
18.43
Positive
Market Momentum
MACD
0.40
Positive
RSI
50.21
Neutral
STOCH
46.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FULT, the sentiment is Neutral. The current price of 18.71 is below the 20-day moving average (MA) of 19.00, above the 50-day MA of 18.01, and above the 200-day MA of 18.43, indicating a neutral trend. The MACD of 0.40 indicates Positive momentum. The RSI at 50.21 is Neutral, neither overbought nor oversold. The STOCH value of 46.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FULT.

Fulton Financial Risk Analysis

Fulton Financial disclosed 29 risk factors in its most recent earnings report. Fulton Financial reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Fulton Financial Peers Comparison

Overall Rating
UnderperformOutperform
Sector (70)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
80
Outperform
$3.46B14.615.21%2.42%21.71%-3.27%
79
Outperform
$3.17B13.929.11%4.13%-0.36%5.97%
78
Outperform
$3.39B11.3318.38%3.24%3.10%3.14%
78
Outperform
$3.21B13.0710.25%1.10%5.06%-0.30%
76
Outperform
$3.40B11.2610.08%3.79%17.62%1.89%
72
Outperform
$2.88B15.1010.92%3.38%11.95%14.60%
70
Neutral
€15.46B11.9314.88%5.80%7.27%0.39%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
FULT
Fulton Financial
18.71
-0.61
-3.16%
CBU
Community Bank System
54.46
-6.42
-10.55%
FBP
First Bancorp Puerto Rico
20.97
-0.15
-0.71%
RNST
Renasant
36.40
0.24
0.66%
WSFS
Wsfs Financial
56.61
0.39
0.69%
FHB
First Hawaiian
25.20
0.15
0.60%

Fulton Financial Corporate Events

Executive/Board ChangesBusiness Operations and Strategy
Fulton Financial Appoints New Chief Operations Officer
Positive
Jul 23, 2025

On July 23, 2025, Fulton Bank announced the appointment of Kevin C. Gremer as Senior Executive Vice President and Chief Operations and Technology Officer, effective August 25, 2025. Gremer, who brings over 27 years of financial services leadership experience, will lead a team of IT and operations professionals to enhance the bank’s digital customer experience. This strategic appointment is expected to bolster Fulton’s operational and technological capabilities, potentially strengthening its market position and benefiting stakeholders through improved service delivery.

The most recent analyst rating on (FULT) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on Fulton Financial stock, see the FULT Stock Forecast page.

Executive/Board ChangesShareholder Meetings
Fulton Financial Announces Board Member Retirement
Neutral
May 22, 2025

On May 20, 2025, Fulton Financial Corporation, a company in the financial sector, held its Annual Meeting of Shareholders. During this meeting, Steven S. Etter, a director, retired from the Board of Directors as he reached the age limit set by the company’s Corporate Governance Guidelines, marking a significant change in the board’s composition.

The most recent analyst rating on (FULT) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on Fulton Financial stock, see the FULT Stock Forecast page.

Executive/Board ChangesShareholder Meetings
Fulton Financial Holds Annual Shareholder Meeting
Positive
May 20, 2025

On May 20, 2025, Fulton Financial Corporation held its Annual Meeting of Shareholders where all 11 director nominees were elected for a one-year term. Additionally, shareholders approved an advisory vote on executive compensation and ratified KPMG LLP as the independent auditor for the fiscal year ending December 31, 2025, indicating strong shareholder support for the company’s governance and financial oversight strategies.

The most recent analyst rating on (FULT) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on Fulton Financial stock, see the FULT Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Fulton Financial Updates Strategy in New Presentation
Neutral
May 12, 2025

On May 12, 2025, Fulton Financial Corporation released a new corporate presentation on its Investor Relations website, updating its strategy and performance overview. The presentation highlights Fulton’s robust market positioning, with a strong asset base and significant market share in key regions. The company is committed to technological investment and corporate social responsibility, aiming to drive growth and efficiency. The release also includes forward-looking statements about Fulton’s future financial performance and growth strategies, emphasizing the inherent uncertainties and risks involved.

The most recent analyst rating on (FULT) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on Fulton Financial stock, see the FULT Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 24, 2025