LANCASTER, Pa., Dec. 16, 2025 /PRNewswire/ -- Fulton Financial Corporation ("Fulton") (Nasdaq: FULT) today announced that its Board of Directors (the "Board") declared a quarterly cash dividend of nineteen cents per share on its common stock, payable on January 15, 2026, to shareholders of record as of December 31, 2025. This is a one cent per share increase from the quarterly cash dividend that the Board declared on September 16, 2025. "The Board's decision to increase our common dividend and increase our ...

Core Insights - Fulton Financial Corp. (FULT) has agreed to acquire Blue Foundry Bancorp (BLFY) in an all-stock transaction valued at approximately $243 million [1][7]. Transaction Details - Fulton will exchange 0.6500 shares for each share of Blue Foundry, with the merger agreement approved by the boards of both companies [2]. - The deal is expected to close in the second quarter of 2026, pending regulatory approvals and Blue Foundry's shareholder consent [3]. - Upon completion, Blue Foundry Bank will merge into Fulton Bank, N.A., and Fulton will contribute $1.5 million to the Fulton Forward Foundation for community grants in New Jersey [3]. Strategic Rationale - The acquisition accelerates Fulton's expansion in the northern New Jersey market and is projected to increase first full-year earnings by over 5% [4]. - The deal is expected to enhance tangible book value per share immediately while maintaining regulatory capital ratios at closing [4]. - Fulton aims to leverage its banking services to provide greater convenience and innovative solutions to a larger customer base, aligning with its strategy for organic growth across various business segments [5]. Market Performance - Fulton's shares have declined by 18.2% over the past year, compared to an 8.7% decline in the industry [6].

Merger Investigations - Axalta Coating Systems Ltd. is set to be acquired by Akzo Nobel N.V., with shareholders receiving 0.6539 shares of AkzoNobel for each share of Axalta owned. The investigation focuses on whether the Axalta Board breached its fiduciary duties by not conducting a fair process and whether the deal provides fair value to shareholders [2] - Green Dot Corporation will be acquired by Smith Ventures and CommerceOne Financial Corporation for $8.11 in cash and 0.2215 shares of the new bank holding company. The investigation examines if the Green Dot Board failed in its fiduciary duties regarding the fairness of the deal [4] - Blue Foundry Bancorp is being acquired by Fulton Financial Corporation, with each share of Blue Foundry exchanged for 0.6500 shares of Fulton. The transaction is valued at approximately $243 million, or $11.67 per share, and the investigation looks into the Blue Foundry Board's fiduciary duties and the fairness of the deal [6] - Golden Entertainment, Inc. will be acquired in a sale-leaseback transaction, with stockholders receiving a total of $30.00, including a fixed exchange ratio of 0.902 shares of VICI common stock and a cash distribution of $2.75. The investigation concerns whether the Golden Entertainment Board breached its fiduciary duties in the deal process [8]

Core Viewpoint - Fulton Financial Corporation is acquiring Blue Foundry Bancorp in an all-stock transaction valued at approximately $243 million, enhancing Fulton's presence in the northern New Jersey market and expected to be accretive to earnings and tangible book value [2][3][4]. Group 1: Transaction Details - The merger agreement stipulates that each share of Blue Foundry common stock will be exchanged for 0.6500 shares of Fulton common stock, valuing Blue Foundry at $11.67 per share based on Fulton's share price of $17.96 as of November 21, 2025 [2]. - The transaction is anticipated to close in the second quarter of 2026, pending regulatory approvals and stockholder approval from Blue Foundry [4]. Group 2: Strategic Implications - This acquisition is part of Fulton's strategy to accelerate growth in the attractive northern New Jersey market, with expectations of over 5% accretion to first full-year earnings and immediate accretion to tangible book value per share [3]. - The merger aims to combine the strengths of both community-focused banks, enhancing customer service and expanding the range of banking solutions available to a larger customer base [5]. Group 3: Community Commitment - Fulton will contribute $1.5 million to the Fulton Forward Foundation to support nonprofit community organizations in New Jersey as part of the transaction [5]. Group 4: Company Backgrounds - Fulton Financial Corporation is a $32 billion asset financial holding company providing various financial services across multiple states, including Pennsylvania, Maryland, Delaware, New Jersey, and Virginia [7]. - Blue Foundry Bancorp operates Blue Foundry Bank, serving communities in New Jersey with a commitment to innovative banking solutions and a history of over 145 years [9].

Core Viewpoint - Fulton Financial Corporation is set to acquire Blue Foundry Bancorp in an all-stock transaction valued at approximately $243 million, enhancing Fulton's presence in the northern New Jersey market [2][3][4]. Transaction Details - Each share of Blue Foundry common stock will be exchanged for 0.6500 shares of Fulton common stock, translating to a value of $11.67 per share of Blue Foundry based on Fulton's share price of $17.96 as of November 21, 2025 [2]. - The transaction is expected to close in the second quarter of 2026, pending regulatory approvals and stockholder approval from Blue Foundry [4]. Strategic Implications - The merger is anticipated to be accretive to Fulton's first full-year earnings by over 5% and immediately accretive to tangible book value per share [3]. - The acquisition aligns with Fulton's strategy to grow in local markets and is expected to enhance its commercial, consumer, wealth advisory, and mortgage businesses [5]. Community Commitment - Fulton will contribute $1.5 million to the Fulton Forward® Foundation to support nonprofit community organizations in New Jersey as part of the transaction [5]. Company Backgrounds - Fulton Financial Corporation is a $32 billion asset financial holding company providing various financial services across multiple states [7]. - Blue Foundry Bancorp operates Blue Foundry Bank, which has a strong community focus and a history of over 145 years [9].

Core Insights - The article emphasizes the importance of a ranking system based on earnings estimates and revisions to identify winning stocks, while also acknowledging the diverse strategies investors may adopt [1] - Value investing is highlighted as a popular method for identifying undervalued stocks through fundamental analysis and established metrics [2] Company Analysis - Fulton Financial (FULT) is currently under observation, holding a Zacks Rank of 2 (Buy) and an A grade for Value, indicating strong interest from investors [3] - FULT has a Price-to-Sales (P/S) ratio of 1.69, which is lower than the industry average of 1.83, suggesting it may be undervalued [4] - The Price-to-Cash Flow (P/CF) ratio for FULT stands at 12.09, compared to the industry average of 16.70, further indicating potential undervaluation based on cash flow strength [5] - The metrics presented suggest that FULT is likely undervalued, especially when considering its positive earnings outlook, making it an attractive value stock at this time [6]

Financial Performance - Net income available to common shareholders for Q3 2025 was $97.9 million, a 61.4% increase from $60.6 million in Q3 2024[141]. - Net income for Q3 2025 was $100.454 million, a 59% increase from $63.206 million in Q3 2024[149]. - Operating net income for the nine months ended September 30, 2025, reached $305.076 million, up 23.4% from $246.860 million in the same period of 2024[149]. - The return on average common shareholders' equity for Q3 2025 was 12.26%, up from 8.13% in Q3 2024[139]. - The efficiency ratio improved to 56.5% in Q3 2025, compared to 59.6% in Q3 2024[139]. - Total revenue for the nine months ended September 30, 2025, was $989.990 million, compared to $909.107 million in the same period of 2024[150]. Interest Income and Margin - Net interest income for the nine months ended September 30, 2025, was $770.3 million, up $63.6 million from $706.7 million in the same period of 2024[146]. - The net interest margin (NIM) increased to 3.57% in Q3 2025, compared to 3.49% in Q3 2024[139]. - Net interest income for Q3 2025 was $264.198 million, an increase from $258.009 million in Q3 2024, with a net interest margin of 3.57%[151]. - Net interest income for Q3 2025 was $268.6 million, an increase of $6.2 million from $262.4 million in Q3 2024, with a net interest margin (NIM) of 3.57%, up 8 basis points year-over-year[151]. - Net interest income for the nine months ended September 30, 2025, was $783.5 million, an increase of $63.2 million compared to the same period in 2024[169]. Non-Interest Income and Expenses - Non-interest income decreased to $206.8 million in Q3 2025, down $3.0 million from $209.8 million in Q3 2024[146]. - Non-interest income increased by $10.7 million, or 18.0%, in Q3 2025 compared to Q3 2024, with significant contributions from cash management and wealth management revenues[166]. - Non-interest expenses were $578.8 million in Q3 2025, a decrease of $24.3 million compared to $603.2 million in Q3 2024[146]. - Total non-interest expense decreased by $29.5 million, or 13.1%, to $196.6 million for Q3 2025 compared to Q3 2024[167]. - Non-interest expense for the nine months ended September 30, 2025 decreased by $24.3 million, or 4.0%, compared to the same period in 2024[187]. Credit Losses and Allowance - The provision for credit losses was $32.7 million, resulting in an allowance for credit losses (ACL) of $376.3 million, or 1.57% of total net loans as of September 30, 2025[146]. - The provision for credit losses was $10.2 million for Q3 2025, resulting in an allowance for credit losses of $376.3 million, or 1.57% of total net loans[164]. - Provision for credit losses decreased by $22.2 million to $32.7 million for the nine months ended September 30, 2025, compared to $54.9 million for the same period in 2024[183]. - The allowance for credit losses (ACL) to non-performing loans ratio improved to 189% as of September 30, 2025, compared to 172% as of December 31, 2024[200]. Assets and Liabilities - Total average assets as of September 30, 2025, were $31.924 billion, slightly up from $31.895 billion in 2024[149]. - Total assets decreased by $76.7 million, or 0.2%, from $32,071.8 million on December 31, 2024, to $31,995.1 million on September 30, 2025[189]. - Total liabilities decreased by $293.0 million, or 1.0%, to $28.581 billion as of September 30, 2025[189]. - Total deposits increased by $203.1 million, or 0.8%, from $26,129.4 million to $26,332.5 million[189]. - Average total deposits increased by $2.3 billion, or 9.4%, to $26.20 billion for the nine months ended September 30, 2025, driven by increases in interest-bearing demand deposits, savings and money market deposits, and time deposits[178]. Shareholder Actions - The Corporation repurchased 2,203,767 shares of common stock at a cost of $39.8 million during the nine months ended September 30, 2025[146]. - The Corporation's total risk-based capital ratio was 15.0% as of September 30, 2025, exceeding the regulatory minimum of 8.0%[220]. - Total uninsured deposits were estimated at $9.7 billion as of September 30, 2025, up from $9.4 billion at the end of 2024[210]. Tax and Regulatory - The effective tax rate (ETR) for the three months ended September 30, 2025 was 21.4%, compared to 20.7% for the same period in 2024[168]. - The effective tax rate (ETR) for the nine months ended September 30, 2025 was 19.9%, up from 14.8% for the same period in 2024[188].

Core Insights - The article emphasizes the importance of value investing, which focuses on identifying undervalued companies in the market [2][3] - Fulton Financial (FULT) is highlighted as a strong value stock, currently holding a Zacks Rank of 2 (Buy) and an A for Value [3][6] Company Metrics - Fulton Financial has a Price-to-Sales (P/S) ratio of 1.73, which is lower than the industry average of 1.86, indicating potential undervaluation [4] - The company's Price-to-Cash Flow (P/CF) ratio stands at 12.09, compared to the industry average of 15.78, further suggesting that FULT may be undervalued [5] - Over the past year, FULT's P/CF has fluctuated between a high of 13.36 and a low of 9.05, with a median of 11.55, reflecting its cash flow performance [5]

Group 1 - The article does not provide any specific content or key points related to a company or industry [1]

Financial Data and Key Metrics Changes - Operating earnings for the third quarter were $101.3 million, or $0.55 per share, reflecting strong profitability and positive operating leverage [4][9] - Total revenue reached an all-time high, driven by increased net interest income and fee income, with an efficiency ratio of 56.5% and an operating ROA of 1.29% [5][7] - The company repurchased 1.65 million shares at a weighted average cost of $18.67 per share, while tangible book value per share grew 18% on a linked quarter annualized basis [5][16] Business Line Data and Key Metrics Changes - Deposit growth outpaced loan growth, with deposits increasing by $194 million, primarily from demand and savings accounts, while total loan balances grew by $29 million [6][10] - Non-interest income for the quarter was $70.4 million, representing 21% of total revenue, with growth driven by wealth and consumer businesses [14] Market Data and Key Metrics Changes - The loan-to-deposit ratio ended the quarter at 91%, with a decline in non-interest-bearing balances to 19.5% of total deposits [11][12] - The net interest margin increased by 10 basis points to 3.57%, with net interest income on a non-FTE basis at $264.2 million, a $9.3 million increase linked quarter [12][13] Company Strategy and Development Direction - The company continues to focus on organic growth and maintaining a diversified balance sheet, with a strategy to pursue acquisitions in the $1 billion to $5 billion community bank segment [31][33] - Management emphasized the importance of managing deposit pricing to balance funding future growth while defending margins [13][14] Management Comments on Operating Environment and Future Outlook - Management expressed caution regarding credit quality due to economic uncertainties but noted steady performance in the loan portfolio, with improvements in non-performing loans and charge-offs [7][15] - The company updated its 2025 operating guidance, increasing net interest income expectations while tightening provisions and operating expenses [16][17] Other Important Information - The allowance for credit losses to total loans ratio remained stable at 1.57%, with an increase in ACL to non-performing loan coverage to 189% [15] - The company has remaining buyback authorization of $86 million under the current plan, indicating ongoing commitment to capital management [16][49] Q&A Session Summary Question: Impact of net interest income guidance revision - Management acknowledged that the revised guidance implies some margin pressure in the fourth quarter due to rate cuts, estimating a $2 million annualized NII headwind for every 25 basis points [20][21] Question: Positive operating leverage in 2026 - Management aims to generate organic growth to drive positive operating leverage, focusing on managing expense and revenue levels [22][23] Question: Cumulative interest-bearing deposit beta expectations - Management targets maintaining the cumulative interest-bearing deposit beta around 30% as the Fed cuts rates [27] Question: Organic growth opportunities in specific markets - Management highlighted opportunities for organic growth in Virginia, Maryland, and Philadelphia, driven by customer acquisition and talent recruitment [33] Question: Capital management and loan growth - Management stated that organic growth remains a priority, followed by corporate activities and buybacks, with $86 million remaining in buyback authorization [49][50]