Financial Data and Key Metrics - The company released its financial information and related slide presentation for the fourth quarter and year ended December 31, 2024, which can be accessed on the company's website under Investor Relations and News sections [4] - The company may make forward-looking statements regarding its financial condition, results of operations, and business, but these are subject to risks and uncertainties, and actual results could differ materially [5] Business Lines and Key Metrics - No specific data or metrics related to individual business lines were provided in the content Market Data and Key Metrics - No specific data or metrics related to individual markets were provided in the content Company Strategy and Industry Competition - No specific details on company strategy or industry competition were provided in the content Management Commentary on Operating Environment and Future Outlook - No specific commentary from management on the operating environment or future outlook was provided in the content Other Important Information - The company's earnings call was hosted by Curtis Myers, Chairman and CEO, and Richard Kraemer, CFO, with Matt Jozwiak, Director of Investor Relations, introducing the call [3] - The call included a safe harbor statement regarding forward-looking statements, emphasizing the risks and uncertainties that could affect actual results [5] Q&A Session Summary - No Q&A session details were provided in the content

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]

Group 1 - Fulton Financial reported quarterly earnings of $0.48 per share, exceeding the Zacks Consensus Estimate of $0.42 per share, and up from $0.42 per share a year ago, representing an earnings surprise of 14.29% [1] - The company posted revenues of $323.93 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.35%, and an increase from year-ago revenues of $275.93 million [2] - Fulton Financial has outperformed the S&P 500 with an 8.2% gain since the beginning of the year, compared to the S&P 500's 2% gain [3] Group 2 - The current consensus EPS estimate for the coming quarter is $0.41 on revenues of $314.95 million, and for the current fiscal year, it is $1.79 on revenues of $1.29 billion [7] - The Zacks Industry Rank for Banks - Northeast is currently in the top 25% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Financial Performance - Fulton Financial Corporation reported net income available to common shareholders of $66.1 million, or $0.36 per diluted share, for Q4 2024, an increase of $5.4 million from Q3 2024[2]. - Operating net income for the year ended December 31, 2024 was $328.1 million, or $1.85 per diluted share, an increase of $43.1 million, or 14% compared to 2023[2]. - Net income available to common shareholders was $66,058 thousand, up from $60,644 thousand in the previous quarter and $61,701 thousand a year ago, marking a quarterly increase of 6.5% and a year-over-year increase of 7.2%[16]. - Net income for Q4 2024 reached $68,620 thousand, an increase from $63,206 thousand in Q3 2024, demonstrating improved profitability[21]. - Operating net income available to common shareholders for the quarter was $88,911 thousand, compared to $68,835 thousand for the same quarter last year[32]. - Operating net income per diluted share for the year ended December 31, 2024, was $1.85, up from $1.71 in 2023[38]. Asset and Loan Management - Total assets increased to $32,065,059 thousand as of December 31, 2024, up from $27,571,915 thousand a year earlier, representing a growth of 15.4%[16]. - Net loans totaled $24.0 billion, a decrease of $131.2 million from $24.2 billion as of September 30, 2024[5]. - Net loans decreased slightly to $24,044,919 thousand from $24,176,075 thousand in the previous quarter, but increased from $21,351,094 thousand year-over-year, showing a growth of 7.9%[16]. - The allowance for credit losses related to net loans at the end of the period was $379,156 thousand, compared to $293,404 thousand at the end of 2023, reflecting a significant increase[30]. - Non-performing loans totaled $220,074 thousand, an increase from $202,147 thousand in the previous quarter, indicating a rise in asset quality concerns[30]. Income and Expense Analysis - The net interest margin was solid at 3.41%, with a decrease in total cost of funds by 14 basis points compared to the prior quarter[3]. - Non-interest expense decreased by $9.5 million to $216.6 million compared to $226.1 million in the prior quarter[3]. - Net interest income for the quarter was $253,659 thousand, a decrease from $258,009 thousand in the previous quarter, but an increase from $212,006 thousand a year ago, reflecting a year-over-year growth of 19.6%[16]. - Non-interest income rose to $65,924 thousand, compared to $59,673 thousand in the previous quarter and $59,378 thousand a year ago, indicating a quarterly increase of 5.4% and a year-over-year increase of 11.8%[16]. - The efficiency ratio improved to 58.4%, down from 59.6% in the previous quarter and 62.0% a year ago, indicating better cost management[18]. Capital and Equity - Common equity tier 1 capital ratio increased to approximately 10.6% compared to 10.5% in the prior quarter[5]. - The common equity Tier 1 capital ratio was 10.6%, slightly up from 10.5% in the previous quarter and consistent with 10.3% a year ago, reflecting strong capital position[18]. - Tangible common shareholders' equity per share was $13.01, up from $12.43 in the previous quarter, indicating improved shareholder value[32]. Strategic Outlook - Fulton made significant operational and strategic progress in 2024, positioning itself for continued success in 2025[2]. - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[21]. - The company plans to continue expanding its market presence and investing in new technologies to enhance customer experience and operational efficiency[25].

Core Insights - Fulton Financial Corporation reported a net income of $66.1 million, or $0.36 per diluted share, for Q4 2024, marking an increase of $5.4 million or $0.03 per share compared to Q3 2024 [1] - The operating net income for the year ended December 31, 2024, was $328.1 million, an increase of $43.1 million or $0.14 per diluted share compared to the previous year [1][2] - The company achieved record operating diluted earnings per share of $1.85 for 2024, representing an 8% increase over the prior year [2] Financial Performance - Q4 2024 operating results showed earnings of $0.48 per diluted share, a decrease of $2.4 million or $0.02 per share compared to Q3 2024 [1][2] - Net interest income for Q4 2024 totaled $253.7 million, a decrease of $4.4 million from the previous quarter, primarily due to a decline in short-term interest rates [8] - Non-interest income before investment securities gains was $65.9 million, an increase from $59.7 million in the prior quarter, driven by a $5.0 million change in the gain on acquisition [8] Balance Sheet Highlights - Total assets as of December 31, 2024, were $32.1 billion, a slight decrease from $32.2 billion at the end of Q3 2024 [15] - Net loans totaled $24.0 billion, down $131.2 million from the previous quarter, with a net decrease in commercial and other loans of $168.1 million [8][15] - Deposits amounted to $26.1 billion, a decrease of $22.7 million compared to Q3 2024, primarily due to a reduction in time deposits [8][15] Asset Quality and Capital Ratios - The provision for credit losses in Q4 2024 was $16.7 million, resulting in an allowance for credit losses of $379.2 million, or 1.58% of total net loans [8][13] - Non-performing assets were $222.7 million, or 0.69% of total assets, an increase from $205.0 million or 0.64% in the prior quarter [8][13] - The common equity tier 1 capital ratio increased to approximately 10.6% compared to 10.5% in the prior quarter [8][12]

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]