Welcome to our dedicated page for Fulton Financial news (Ticker: FULT), a resource for investors and traders seeking the latest updates and insights on Fulton Financial stock.
Fulton Financial Corporation (NASDAQ: FULT) is a Lancaster, Pennsylvania-based financial holding company serving the Mid-Atlantic region through its subsidiary Fulton Bank, N.A. This news page aggregates coverage of FULT, with a focus on corporate announcements, earnings results, capital actions and strategic developments that affect the company’s commercial banking and financial services operations.
Readers can expect regular updates on quarterly and annual financial results, which Fulton releases via earnings press releases and accompanying investor presentations. These items typically detail net income, net interest income, non-interest income, asset quality metrics, capital ratios and other key performance indicators. The company also announces the dates and times of its earnings releases and analyst conference calls, along with webcast access information.
Fulton’s news flow frequently includes dividend declarations and share repurchase authorizations, such as quarterly cash dividends on its common stock and Series A preferred stock and board-approved repurchase programs covering common shares and certain other securities. Strategic activity is another important theme: Fulton has announced an Agreement and Plan of Merger with Blue Foundry Bancorp in an all-stock transaction and has disclosed the acquisition of substantially all of the assets and deposits of Republic First Bank by Fulton Bank from the FDIC as receiver.
Additional news items highlight leadership and governance changes, including executive appointments, retirements and new senior roles at Fulton Bank overseeing operations, technology and treasury functions. Community and employee-focused stories, such as scholarship awards funded by internal employee resource groups and community initiatives under the Fulton Forward® banner, also appear in the company’s news.
Investors, analysts and other interested readers can use this page to follow FULT’s ongoing financial performance, capital management decisions, merger activity and community banking initiatives in one consolidated feed.
The Board of Directors of Fulton Financial Corporation (Nasdaq: FULT) has declared a quarterly cash dividend of thirteen cents per share on its common stock, payable January 15, 2021, to shareholders of record as of December 31, 2020.
Additionally, a quarterly dividend of $10.82 per share on the Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, is also declared, with payment on January 15, 2021, for holders of record as of December 31, 2020.
Fulton Financial Corporation (Nasdaq: FULT) announced a special cash dividend of four cents per share on its common stock, payable on December 17, 2020, to shareholders of record as of December 7, 2020. This follows the quarterly cash dividends of thirteen cents per share paid in 2020. The Board will review the next quarterly dividend at its December meeting. Fulton is a $25.5 billion financial holding company with over 3,400 employees and operates more than 220 financial centers across five states.
Fulton Bank, a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), has successfully acquired BenefitWorks, Inc., a registered investment advisor based in Lebanon, PA, as of November 20, 2020. BenefitWorks specializes in investment advisory and retirement services, managing approximately $177 million in assets as of September 30, 2020. The acquisition aims to enhance Fulton Bank's client reach in central Pennsylvania. BenefitWorks will continue to operate as a subsidiary, transitioning clients to Fulton Financial Advisors over time.
Fulton Financial Corporation (NASDAQ: FULT) has priced its public offering of 8,000,000 depositary shares, each representing a 1/40th interest in its 5.125% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A. This offering totals $200 million, with expected net proceeds of $193.7 million for general corporate purposes. The depositary shares will be listed on NASDAQ under symbol 'FULTP'. The offering is being managed by Keefe, Bruyette & Woods, BofA Securities, Morgan Stanley, Piper Sandler, and Wells Fargo.
Fulton Financial Corporation (NASDAQ: FULT) reported a net income of $62 million, or $0.38 per diluted share, for Q3 2020. The mortgage business achieved record growth, contributing to stronger-than-expected results. Net interest income remained at $154 million, although the net interest margin fell to 2.70%. Total average assets rose to $25.2 billion, driven by PPP loans. Non-interest income increased by 20% from the prior quarter to $63 million. A strategic review promises $25 million in annual expense savings but incurs a one-time charge of $17-$19 million.
Fulton Financial Corporation (Nasdaq: FULT) will release its third quarter earnings on October 20 at 4:30 p.m. Eastern Time. Following this, a conference call for analysts, hosted by CEO E. Philip Wenger, will occur on October 21 at 10:00 a.m. Eastern Time, with key executives also participating. The call will be available via webcast on the company's website and can be accessed by phone as well.
Fulton Financial, based in Lancaster, Pa., operates about 225 branches and employs around 3,400 staff, managing assets worth $24.6 billion.
On October 8, 2020, Reltio announced its sponsorship of the Forrester Data Strategy & Insights North America conference alongside customer Fulton Bank. The event occurs from October 13-15, 2020. Fulton Bank will share insights on enhancing customer experiences through Reltio's Connected Customer 360 platform, which supports unified banking operations and customer engagement. The presentation features Gotham Pasupuleti and Jakki Geiger discussing how data strategies improve customer relationships and operational efficiency. Fulton Financial, a $24.6 billion institution, aims to leverage technology for growth and improved customer experience.