Fulton Financial (FULT) AI Stock Analysis

• Market Cap: $3.68B
• Dividend Yield: 3.52%
• Average Volume (3M): 1.84M
• Price to Earnings (P/E): 9.8
• Beta (1Y): 1.13
• 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: 1,481,955
• 30 Day Avg. Volume: 1,841,818
• PEG Ratio: 0.28
• Price to Book (P/B): 1.02
• Price to Sales (P/S): 1.87
• P/FCF Ratio: 11.64
• Enterprise Value/Market Cap: 1.28
• Enterprise Value/Revenue: 2.49
• Enterprise Value/Gross Profit: 3.69
• Enterprise Value/Ebitda: 8.89
• 1Y Price Target: $23.00
• Price Target Upside: 12.47% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): 2.02
• Revenue Forecast (FY): $1.43B

• Rating: 70 Outperform
• Price Target: $22.50 ▲(10.02% Upside)
• Action: Reiterated Date: 02/28/26
• Date: Action: Reiterated 02/28/26

The score is driven mainly by improving profitability/capital strength but tempered by revenue volatility. Valuation is a clear positive (low P/E and strong yield), while technicals are mixed with weaker near-term momentum. Earnings-call tone and guidance are constructive, but execution and macro assumptions remain key risks.

Positive Factors

Margin expansion & record operating EPS

Sustained margin improvement and record operating EPS signal stronger core profitability and operational leverage. Higher net margin (to ~21% in 2025) provides recurring earnings power, improving capacity to fund investments, dividends and buybacks across economic cycles.

Strengthened capital and lower leverage

Material decline in leverage and improved CET1/tangible metrics reduce balance-sheet risk and increase loss-absorption capacity. Stronger capital gives management flexibility for M&A integration, buybacks and reserve buffering during credit or rate stress over the medium term.

Diversified fee income and wealth management scale

Growing, diversified fees and a wealth platform (AUM >$17B) reduce reliance on interest income and support steadier revenue in varied rate environments. Fee mix from cash management, commercial fees and advisory services supports margin resilience and cross-sell durability.

Negative Factors

Revenue volatility and top-line decline

Material swings in revenue undermine predictability of earnings despite margin gains. A sharp 2025 top-line drop raises questions about sustainable growth drivers, making long-term EPS less certain and increasing dependence on expense control and one-off items.

Guidance tied to macro and deal timing

Forward plans depend on specific macro moves and a near-term M&A close; slippage or different rate paths would materially alter NII, loan growth and cost assumptions. This increases execution risk and the potential for persistent variance between guidance and realized results.

Derisking actions pressured loan growth

Deliberate runoff and problem-loan resolution improved credit quality but materially reduced loan balances and interest income. The tradeoff may compress long-term organic loan growth and limit NII upside until new originations offset removed assets, slowing durable growth.

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

Profitability and balance-sheet quality are improving (net margin up to ~21% in 2025, ROE ~11%, and debt-to-equity down to ~0.37), while cash conversion is generally supportive (FCF to net income ~0.90–1.00). The key drag is revenue volatility, including a sharp 2025 decline, which raises questions about earnings durability.

Income Statement

Profitability is solid and improving in the most recent year, with net margin rising to ~21% (2025) from ~16% (2024) and operating profitability also stepping up. However, the top line is volatile: revenue grew strongly in 2023–2024 but then fell sharply in 2025 (reported growth rate -0.687), which adds uncertainty around earnings durability despite better margins.

Balance Sheet

Leverage has improved meaningfully over time, with debt-to-equity declining from ~1.11 (2022) and ~0.90 (2023) to ~0.56 (2024) and ~0.37 (2025), reflecting a stronger capital position. Return on equity remains healthy around ~11% in 2025 (vs. ~9% in 2024). The main watch-out is that total debt is still sizable in absolute dollars, and bank balance sheets can be sensitive to credit and rate cycles even when leverage metrics look better.

Cash Flow

Cash generation is generally supportive, with free cash flow tracking net income well (free cash flow to net income ~0.90–1.00 across recent years, reaching 1.0 in 2025). Free cash flow growth is positive in 2024 and notably strong in 2025, but operating cash flow fell in 2025 versus 2024, and cash flow has shown some lumpiness (including a weaker free-cash-flow growth year in 2023).

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.89B	1.80B	1.50B	1.09B	997.16M
Gross Profit	1.28B	1.13B	1.03B	988.70M	952.08M
EBITDA	529.28M	401.62M	381.72M	378.95M	363.64M
Net Income	391.61M	288.74M	284.28M	286.98M	275.50M
Balance Sheet
Total Assets	32.12B	32.07B	27.57B	26.93B	25.80B
Cash, Cash Equivalents and Short-Term Investments	1.18B	3.37B	2.93B	3.31B	4.83B
Total Debt	1.30B	1.78B	2.49B	2.87B	1.45B
Total Liabilities	28.63B	28.87B	24.81B	24.35B	23.08B
Stockholders Equity	3.49B	3.20B	2.76B	2.58B	2.71B
Cash Flow
Free Cash Flow	304.48M	374.11M	330.03M	573.54M	320.71M
Operating Cash Flow	304.48M	416.56M	362.98M	594.79M	338.39M
Investing Cash Flow	-82.18M	1.63B	-809.22M	-1.54B	-210.09M
Financing Cash Flow	-224.57M	-1.53B	314.02M	-15.90M	-337.52M

Fulton Financial Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 20.45
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: 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 20.45 is below the 20-day moving average (MA) of 21.80, below the 50-day MA of 20.74, and above the 200-day MA of 18.81, indicating a neutral trend. The MACD of 0.16 indicates Positive momentum. The RSI at 40.76 is Neutral, neither overbought nor oversold. The STOCH value of 22.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FULT.

Fulton Financial Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FBP	77 Outperform	$3.34B	9.85	18.97%	3.38%	2.35%	13.72%
CATY	74 Outperform	$3.38B	10.95	10.63%	2.72%	-1.59%	9.34%
FULT	70 Outperform	$3.68B	9.83	11.71%	3.52%	9.60%	20.38%
FIBK	68 Neutral	$3.50B	11.77	8.95%	5.24%	-5.43%	4.19%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
TBBK	67 Neutral	$2.21B	10.67	30.85%	―	29.24%	21.49%
INDB	66 Neutral	$3.86B	17.58	6.25%	3.05%	11.05%	-10.78%

Fulton Financial Corporate Events

Fulton Financial Secures Approvals for Blue Foundry Merger

Fulton Financial Corporation and Blue Foundry Bancorp said on February 23, 2026, that they have received all required regulatory approvals for their previously announced all-stock merger, under which Blue Foundry will be absorbed into Fulton, with the latter as the surviving entity. Regulatory clearance from the Federal Reserve and the Office of the Comptroller of the Currency, along with Blue Foundry stockholder approval on January 29, 2026, paves the way for closing around April 1, 2026, after which Blue Foundry Bank will be merged into Fulton Bank in a move set to deepen Fulton’s footprint in New Jersey and reshape its regional competitive position.

The transaction, first unveiled on November 24, 2025, will see Fulton issue stock to acquire Blue Foundry, consolidating operations as systems are converted and providing Fulton with expanded access to key northern New Jersey markets. For stakeholders, the completed deal is expected to bring integration and execution risks but also potential strategic and cost synergies as Fulton seeks to leverage Blue Foundry’s established local franchise within its broader mid-Atlantic community banking network.

The most recent analyst rating on (FULT) stock is a Buy with a $22.50 price target. To see the full list of analyst forecasts on Fulton Financial stock, see the FULT Stock Forecast page.

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.