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 ...

Core Viewpoint - Fulton Financial Corporation has announced a sequential dividend increase and a new share repurchase program, reflecting its strong financial position and commitment to returning value to shareholders [1][3][6]. Dividend Announcement - The company declared a quarterly cash dividend of 18 cents per share, marking a 5.9% increase from the previous payout [1]. - Prior to this increase, the dividend was raised by 6.3% to 17 cents per share in December 2023 [2]. - Fulton Financial has raised its quarterly dividend eight times in the last five years, with a five-year annualized dividend growth of 6.7% [2]. - The current payout ratio stands at 38% of earnings, and the dividend yield is 3.46%, which is higher than the industry average of 2.41% [2]. Share Repurchase Program - The company announced a new repurchase program allowing for the repurchase of up to $125 million worth of shares, with $25 million allocated for preferred stock [3][5]. - The program will be effective from January 1, 2025, and will expire on December 31, 2025 [3]. - As of September 30, 2024, Fulton had $95 million remaining under its existing repurchase authorization [5]. Financial Position - As of September 30, 2024, Fulton Financial had total cash and cash equivalents of $1.4 billion, exceeding its total current debt of $1.1 billion [6]. - The company's trailing 12-month return on equity (ROE) is 11.33%, outperforming the industry average of 8.22%, indicating efficient use of shareholder funds [6]. Stock Performance - Over the past six months, Fulton Financial's shares have gained 23.6%, while the industry has grown by 33.3% [8].

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]

Fulton Financial Corporation (NASDAQ: FULT ) was founded in 1882 in Lancaster, Pennsylvania. It has considerable influence in this city; in fact, it has a 29% market share of deposits. Overall, Pennsylvania is a key state for FULT, and the acquisition ofHi there, welcome to my profile. My name is Eugenio Catone, I live in Italy and I am 26 years old. In 2023 I graduated in Business Administration and I am completing my studies. My interest in financial markets started about 5 years ago when I accidentally c ...

LANCASTER, Pa., Nov. 1, 2024 /PRNewswire/ -- Fulton Financial Corporation ("Fulton") (NASDAQ: FULT) today announced that Richard Kraemer has been appointed as Senior Executive Vice President and Chief Financial Officer ("CFO"), replacing Interim CFO Betsy Chivinski, who is retiring from Fulton at the end of the year."I would like to thank Betsy Chivinski for her many years of service to Fulton," said Chairman and Chief Executive Officer Curt Myers. "As Interim CFO, Betsy helped lead the Republic Bank transa ...

Fulton Financial (FULT) came out with quarterly earnings of $0.50 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.43 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 13.64%. A quarter ago, it was expected that this financial holding company would post earnings of $0.25 per share when it actually produced earnings of $0.47, delivering a surprise of 88%. Over the last four quar ...

Financial Performance - Net income available to common shareholders for Q3 2024 was $60.6 million, a decrease of $31.8 million from Q2 2024[1] - Operating net income for Q3 2024 was $91.3 million, an increase of $8.8 million compared to Q2 2024, representing an all-time high of $0.50 per diluted share[2] - Net income available to common shareholders for the quarter ended September 30, 2024, was $60,644 million, a decrease of 34.4% compared to $92,413 million in the previous quarter[37] - Operating net income available to common shareholders increased to $91,293 million from $82,494 million in the previous quarter, reflecting a growth of 9.7%[37] - Basic earnings per share for Q3 2024 was $0.33, down from $0.53 in the previous quarter[25] - Diluted earnings per share rose to $0.50, up from $0.47 in the previous quarter, representing a 6.4% increase[37] - Total revenue for the quarter was $329.14 million, up from $311.45 million in the previous quarter, indicating a 5.8% growth[40] Income and Expenses - Net interest income totaled $258.0 million, an increase of $16.3 million from the previous quarter, driven by the full-quarter impact of the Acquisition[3] - Non-interest income before investment securities gains was $59.7 million, down from $113.3 million in Q2 2024, primarily due to a $55.1 million change in the gain on acquisition[3] - Non-interest expense increased to $226.1 million, primarily due to an $8.2 million rise in salaries and benefits expense[4] - Total non-interest expense increased to $226,089,000 from $199,488,000 in Q2 2024, primarily driven by higher salaries and employee benefits[23] - Operating non-interest expense was $196.24 million, slightly up from $194.94 million in the previous quarter[40] - Non-interest expense, excluding intangible amortization and acquisition-related expenses, was $226.09 million, up from $199.49 million in the previous quarter[40] Assets and Liabilities - Total assets increased to $32.2 billion, up from $31.8 billion as of June 30, 2024[5] - Total assets increased to $32.19 billion from $31.77 billion in the previous quarter[22] - Total liabilities increased to $28.98 billion from $28.67 billion in the previous quarter[22] - Total shareholders' equity increased to $3,160,322 thousand as of September 30, 2024, compared to $2,952,671 thousand in June 2024, reflecting a growth of 7.05%[27] - Total interest-earning assets reached $30,013,278 thousand with a yield of 5.74% for the three months ended September 30, 2024, compared to $28,867,850 thousand and a yield of 5.64% in June 2024[27] Credit Quality - The provision for credit losses was $11.9 million, a decrease from $32.1 million in Q2 2024[8] - Provision for credit losses decreased to $11,929,000 from $32,056,000 in the previous quarter, indicating improved credit quality[23] - Non-performing assets were $205.0 million, or 0.64% of total assets, up from $174.0 million, or 0.55% of total assets, in the previous quarter[8] - Non-performing loans to total net loans increased to 0.84% from 0.72% in the previous quarter[19] - The allowance for credit losses related to net loans increased to $375,961 thousand as of September 30, 2024, compared to $293,404 thousand a year earlier, reflecting a significant increase of 28.2%[34] Deposits and Loans - Customer deposits increased by $745.0 million compared to the prior quarter, excluding brokered deposits[2] - Total deposits increased to $26.15 billion from $25.56 billion in the previous quarter[22] - Net loans increased to $24.18 billion from $24.11 billion in the previous quarter[22] - Total net loans increased to $24,147,801 thousand as of September 30, 2024, up from $23,345,914 thousand in June 2024, representing a growth of 3.44%[28] - Demand deposits rose to $7,668,583 thousand with an interest rate of 2.01% for September 2024, compared to $7,080,302 thousand and 1.80% in June 2024[27] Shareholder Equity - Common equity tier 1 capital rose to 10.5%, up from 10.3% in the prior quarter[2] - Common shareholders' equity increased to $3,203,943 million from $3,101,609 million, marking a growth of 3.3%[37] - Tangible common equity ratio improved to 7.5% from 7.3% in the previous quarter[19] - Tangible common equity to tangible assets ratio increased to 7.51% as of September 30, 2024, up from 7.26% in June 2024[40] Efficiency and Management - Efficiency ratio improved to 59.62%, down from 62.59% in the prior quarter, indicating better cost management[40] - The efficiency ratio for operating non-interest expenses to total average assets was 2.45%, a slight decrease from 2.55% in the previous quarter[40] - The company emphasized the importance of non-GAAP financial measures for assessing trends in its results of operations and financial condition[36]