Fulton Financial Corporation (NASDAQ:FULT) Q4 2024 Earnings Conference Call January 22, 2025 10:00 AM ET Company Participants Matt Jozwiak - Director of IR Curtis Myers - Chairman and CEO Richard Kraemer - CFO Conference Call Participants Danny Tamayo - Raymond James Andrew Leischner - KBW David Bishop - Hovde Group Matthew Breese - Stephens Frank Schiraldi - Piper Sandler Manuel Navas - D.A. Davidson Operator Good day, and thank you for standing by. Welcome to the Fulton Financial Fourth Quarter 2024 Resul ...

Financial Performance - Revenue for the quarter ended December 2024 was $323.93 million, a 17.4% year-over-year increase [1] - EPS for the quarter was $0.48, compared to $0.42 a year ago [1] - Revenue surprise was +0.35% over the Zacks Consensus Estimate of $322.8 million [1] - EPS surprise was +14.29% over the consensus estimate of $0.42 [1] Key Metrics - Efficiency Ratio: 58.4% compared to the 63% average estimate [4] - Net Interest Margin: 3.4% compared to the 3.4% average estimate [4] - Average Balance - Total Interest-Earning Assets: $30.19 billion versus $30.20 billion estimated [4] - Net charge-offs to average loans: 0.2% versus 0.2% estimated [4] - Net Interest Income (FTE): $258 million versus the $255.16 million average estimate [4] - Total Non-Interest Income: $65.92 million compared to the $67.09 million average estimate [4] Segment Performance - Non-Interest Income- Total consumer banking: $14.31 million compared to the $15.04 million average estimate [4] - Mortgage banking: $3.76 million versus the $2.76 million average estimate [4] - Wealth management: $22 million versus $21.48 million estimated [4] - Non-Interest Income- Other: $6.09 million versus $5.19 million estimated [4] - Non-Interest Income- Total commercial banking: $22.45 million versus $22.37 million estimated [4] Stock Performance - Shares of Fulton Financial have returned +6.9% over the past month versus the Zacks S&P 500 composite's +1.2% change [3] - The stock currently has a Zacks Rank 3 (Hold), indicating it could perform in line with the broader market in the near term [3]

Fulton Financial (FULT) came out with quarterly earnings of $0.48 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this financial holding company would post earnings of $0.44 per share when it actually produced earnings of $0.50, delivering a surprise of 13.64%.Over the last four qua ...

Fulton Financial Corporation Announces 2024 Fourth Quarter and Full-Year Results (January 21, 2025) – Lancaster, PA – Fulton Financial Corporation (NASDAQ: FULT) ("Fulton" or the "Corporation") reported net income available to common shareholders of $66.1 million, or $0.36 per diluted share, for the fourth quarter of 2024, an increase of $5.4 million, or $0.03 per share, in comparison to the third quarter of 2024. Operating net income available to common shareholders for the three months ended December 31, ...

LANCASTER, Pa., Jan. 21, 2025 /PRNewswire/ -- Fulton Financial Corporation (NASDAQ: FULT) ("Fulton" or the "Corporation") reported net income available to common shareholders of $66.1 million, or $0.36 per diluted share, for the fourth quarter of 2024, an increase of $5.4 million, or $0.03 per share, in comparison to the third quarter of 2024. Operating net income available to common shareholders for the three months ended December 31, 2024 was $88.9 million, or $0.48 per diluted share(1), a decrease of $2. ...

In its upcoming report, Fulton Financial (FULT) is predicted by Wall Street analysts to post quarterly earnings of $0.42 per share, reflecting no change compared to the same period last year. Revenues are forecasted to be $322.8 million, representing a year-over-year increase of 17%.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Ahead ...

Company Release – 01/07/2025 11:00 AM ET LANCASTER, Pa., Jan. 7, 2025 /PRNewswire/ -- Fulton Financial Corporation ("Fulton") (Nasdaq: FULT) today announced that it will distribute its fourth quarter 2024 earnings release and accompanying charts on Tuesday, January 21, at approximately 4:30 p.m. Eastern Time. Fulton will host a conference call with analysts on Wednesday, January 22, at 10 a.m. Eastern Time. Curtis J. Myers, Chairman and CEO, will host the call. He will be joined by Rick Kraemer, Senior Exec ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Fulton Financial (FULT) , which belongs to the Zacks Banks - Northeast industry, could be a great candidate to consider.When looking at the last two reports, this financial holding company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 50.82%, on average, in the last two quarters.For the most recent q ...

Fulton Financial Corporation (FULT) announced a sequential dividend hike. The company declared a quarterly cash dividend of 18 cents per share, indicating a rise of 5.9% from the prior payout. The dividend will be paid out on Jan. 15, 2025, to its shareholders of record as of Dec. 31, 2024.Prior to the current hike, the company increased its dividend by 6.3% to 17 cents per share in December 2023. FULT raised its quarterly dividend eight times in the last five years. Further, it has a five-year annualized d ...

Dividend Announcement - The Board of Directors declared a quarterly cash dividend of $0.18 per share on common stock, payable on January 15, 2025, to shareholders of record as of December 31, 2024 [1] - This represents a $0.01 per share increase from the previous quarterly cash dividend declared on September 17, 2024 [1] - The Board also declared a quarterly dividend of $12.81 per share on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, payable on January 15, 2025 [3] Share Repurchase Program - The Board approved a share repurchase program (2025 Program) with an aggregate principal amount not exceeding $125 million, commencing on January 1, 2025, and expiring on December 31, 2025 [4] - Up to $25 million of the 2025 Program may be used to repurchase shares of Fulton's Preferred Stock [4] - Purchases may be made through open market transactions, privately negotiated transactions, or other means in accordance with federal securities laws [4] Company Overview - Fulton Financial Corporation is a Lancaster, Pennsylvania-based financial holding company with over $30 billion in assets [5] - The company employs more than 3,400 people and operates over 200 financial centers across Pennsylvania, New Jersey, Maryland, Delaware, and Virginia through Fulton Bank, N.A. [5] Management Commentary - The Chairman and CEO stated that the 6% increase in the common dividend demonstrates the company's continued strength, momentum, and commitment to returning value to shareholders [2]