Fulton Financial Stock Price, News & Analysis

Fulton Bank, a subsidiary of Fulton Financial , has launched Fulton Deposit Escrow Management, a new digital platform for escrow account and subaccount management. The service is provided in partnership with ZSuite Technologies and is aimed at clients in the real estate industry and municipal organizations. The platform, called ZEscrow, offers features such as bulk import capability, easy account access, and interest configuration.

Lou Lombardi, Fulton Bank Director of Middle Markets, emphasized that the platform provides customers with an easy and secure way to manage escrow accounts, offering real-time access to information. Nathan Baumeister, CEO of ZSuite Technologies, expressed excitement about the partnership, highlighting their commitment to providing advanced tools for businesses and individuals.

Fulton Financial (Nasdaq: FULT) has announced its latest dividend declarations. The Board of Directors has declared a quarterly cash dividend of $0.17 per share on its common stock, payable on October 15, 2024, to shareholders of record as of October 1, 2024. Additionally, a quarterly dividend of $12.81 per share (equivalent to $0.32025 per depositary share) on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, will be paid on October 15, 2024, to shareholders of record as of September 30, 2024.

Fulton is a $30 billion financial holding company based in Lancaster, Pennsylvania. It employs over 3,500 people and operates more than 200 financial centers across Pennsylvania, New Jersey, Maryland, Delaware, and Virginia through Fulton Bank, N.A.

Fulton Financial (NASDAQ: FULT), a $30+ billion financial services holding company, has announced several new executive appointments within Fulton Bank, N.A. The changes include:

1. Meg R. Mueller as Chief Credit Executive
2. John J. Glover as Head of Commercial Banking
3. Philip N. Smith as Director of Business Banking
4. Jeffrey R. Rush as Executive Market President

These appointments aim to bring increased focus to core business areas, align the credit team under a single leader, support a wide range of customers, and reinforce commitment to local leadership in served communities.

Fulton Bank, a subsidiary of Fulton Financial (FULT), has awarded two $3,000 Women in Technology scholarships to Kailey Kasbeer-Betty and Yanwei Liu. The scholarships, presented by Fulton's Women in Technology employee resource group, support women pursuing STEM education.

Kasbeer-Betty, from Ellicott City, Md., will study electrical engineering at the University of South Florida. Liu, from Hummelstown, Pa., will pursue computer science at Cornell University. Eligible applicants had to be female high school seniors residing within Fulton Bank's footprint and enrolling in a STEM undergraduate program.

Kelly Salvato, Chairperson of Fulton's Women in Technology group, emphasized the importance of inspiring and connecting women in technology across both IT and business sectors.

Fulton Financial (NASDAQ: FULT) has announced Richard Kraemer as its new Senior Executive Vice President and Chief Financial Officer Designee. Kraemer will join Fulton on September 3, 2024, and take over as CFO in the fourth quarter, replacing Interim CFO Betsy Chivinski, who will retire at year-end.

Kraemer brings over 20 years of financial services experience, most recently serving as Chief Banking Officer overseeing commercial markets at another bank. He will oversee accounting, treasury, corporate development, tax, financial planning and forecasting, and investor relations at Fulton. CEO Curt Myers expressed confidence in Kraemer's ability to lead as CFO, citing his proven track record in commercial business, corporate finance, and developing strategies to improve profitability.

Fulton Financial (NASDAQ: FULT) reported Q2 2024 net income of $92.4 million, or $0.52 per diluted share, a $33.0 million increase from Q1. The quarter was significantly impacted by the acquisition of Republic Bank, contributing to a $47.4 million gain (net of tax). Key financial highlights include:

- Net interest income increased by $34.8 million to $241.7 million
- Non-interest income rose to $113.3 million, up from $57.1 million in Q1
- Net loans grew to $24.1 billion, a $2.7 billion increase
- Deposits increased by $3.8 billion to $25.6 billion
- Provision for credit losses was $32.1 million, up from $10.9 million in Q1

The company also completed a $273.0 million common stock offering and a sale-leaseback transaction resulting in a $20.3 million pre-tax gain.

Fulton Financial (Nasdaq: FULT) will release its second quarter 2024 earnings on July 16, 2024, at 4:30 p.m. ET.

A conference call with analysts is scheduled for July 17, 2024, at 10 a.m. ET, hosted by Chairman and CEO Curtis J. Myers and Interim CFO Betsy Chivinski.

Fulton operates over 200 branches across six states and employs around 3,500 people.

More information and access to the webcast can be found on their investor website.

Fulton Financial (Nasdaq: FULT) announced on June 18, 2024, that its Board of Directors has declared a quarterly cash dividend of seventeen cents per share on its common stock. This dividend will be payable on July 15, 2024, to shareholders of record as of July 1, 2024.

Additionally, the Board declared a quarterly dividend of $12.81 per share (equivalent to $0.32025 per depositary share) on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A. This dividend will also be payable on July 15, 2024, to shareholders of record as of June 30, 2024, for the period from April 15, 2024, to July 15, 2024.

Fulton Financial, based in Lancaster, Pennsylvania, is a financial holding company with assets exceeding $30 billion. It employs over 3,500 people and operates more than 200 financial centers across six states through Fulton Bank.

Fulton Bank, a subsidiary of Fulton Financial (NASDAQ: FULT), has released its 2023 Corporate Social Responsibility Report. The report highlights the bank's commitment to customers, employees, communities, and the environment. Significant metrics include $270 million in community development investments, $187 million in mortgage loans to low- to moderate-income buyers, $120 million in Small Business Administration loan originations, and $9.99 million in charitable donations from 2022-2023. Additionally, Fulton Bank employees contributed 12,800 volunteer hours in 2023. The report also introduces the bank's first Stakeholder Perspectives Assessment and new statements on human rights, supplier conduct, and environmental sustainability.