Fulton Financial (FULT) AI Stock Analysis

• Market Cap: $3.65B
• Dividend Yield: 3.52%
• Average Volume (3M): 1.59M
• Price to Earnings (P/E): 10.6
• 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: 180,598,620
• 10 Day Avg. Volume: 1,894,615
• 30 Day Avg. Volume: 1,587,052
• 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: 1.31
• Enterprise Value/Revenue: 2.51
• Enterprise Value/Gross Profit: 3.82
• Enterprise Value/Ebitda: 9.31
• 1Y Price Target: $21.00
• Price Target Upside: 4.01% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 2.04
• Revenue Forecast (FY): $1.33B

• Rating: 71 Outperform
• Price Target: $22.50 ▲(11.44% Upside)

Fulton Financial's overall stock score is driven by its solid financial performance and attractive valuation. The company's strategic initiatives, including a merger and share buyback, further strengthen its market position. However, technical indicators suggest caution due to overbought conditions, and challenges in loan growth and deposit volatility remain.

Positive Factors

Strategic Merger

The merger with Blue Foundry Bancorp enhances Fulton's market position and operational capabilities, expanding its presence in northern New Jersey.

Share Buyback Program

The $150M share buyback program reflects confidence in financial strength and commitment to shareholder value, enhancing market positioning.

Dividend Increase

Increasing the dividend signals strong cash generation and commitment to returning value to shareholders, supporting long-term investor confidence.

Negative Factors

Loan Growth Challenges

Limited loan growth may hinder revenue expansion and affect profitability, posing a challenge to maintaining competitive market positioning.

Municipal Deposit Volatility

Volatility in municipal deposits can lead to instability in funding sources, impacting liquidity management and financial planning.

Declining Revenue Growth

A declining revenue growth rate could signal challenges in market expansion and product adoption, affecting long-term financial health.

Fulton Financial Business Overview & Revenue Model

Company Description

Fulton Financial Corporation (FULT) is a financial services holding company headquartered in Lancaster, Pennsylvania. The company operates through its subsidiaries, primarily in the banking sector, providing a range of services including commercial banking, consumer banking, mortgage banking, and wealth management. Fulton Financial serves customers across several states in the Mid-Atlantic region and offers products such as checking and savings accounts, loans, insurance, and investment services.

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

Fulton Financial demonstrates solid financial health with strong profitability margins and effective cash management. However, the declining revenue growth rate and low return on equity are areas of concern. The company has managed its leverage well, improving its debt-to-equity ratio over time.

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: 20.19
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 20.19 is above the 20-day moving average (MA) of 19.12, above the 50-day MA of 18.19, and above the 200-day MA of 17.87, indicating a bullish trend. The MACD of 0.63 indicates Negative momentum. The RSI at 69.92 is Neutral, neither overbought nor oversold. The STOCH value of 76.35 is Neutral, 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	80 Outperform	$3.83B	18.86	5.51%	3.05%	11.05%	-10.78%
FBP	76 Outperform	$3.39B	10.44	18.43%	3.35%	2.35%	13.72%
FIBK	76 Outperform	$3.68B	15.07	7.20%	5.26%	-5.43%	4.19%
CATY	72 Outperform	$3.43B	11.64	10.63%	2.70%	-1.59%	9.34%
FULT	71 Outperform	$3.65B	10.57	10.92%	3.52%	9.60%	20.38%
TBBK	69 Neutral	$3.02B	14.38	28.59%	―	29.24%	21.49%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

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.

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.

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.