- Fulton Financial‘s end-period deposits totaled $26.15 billion, surpassing the estimated $25.68 billion.
- The company’s total assets were reported at $32.19 billion, exceeding the forecasted $31.91 billion.
- Earnings per share (EPS) stood at 33 cents.
- Net loans reached $24.18 billion, closely aligning with the predicted $24.19 billion.
- Net interest margin was recorded at 3.49%, slightly above the estimated 3.42%.
- Net interest income on a fully-taxable equivalent basis was $262.4 million, outperforming the expected $255.3 million.
- The provision for credit losses was lower than anticipated at $11.9 million, compared to an estimate of $12.9 million.
- Non-interest income fell short of expectations, totaling $59.7 million against a projection of $64.7 million.
- Non-interest expenses were reported at $226.1 million.
- The company’s stock recommendations include one buy, six holds, and no sells.
A look at Fulton Financial Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Fulton Financial Corporation, a multi-bank holding company operating in several states, shows promising long-term potential based on the Smartkarma Smart Scores. With a strong Value score of 4 and Dividend score of 4, the company is viewed favorably in terms of its financial attractiveness and dividend-paying capacity. Additionally, with a Momentum score of 4, Fulton Financial is indicating positive market trends and investor sentiment towards its stock. Although Growth and Resilience scores are slightly lower at 3, overall, the company seems well-positioned for steady growth and able to weather economic uncertainties.
In summary, Fulton Financial Corporation, offering a range of banking services in multiple states, presents a solid investment opportunity with its high Value and Dividend scores reflecting financial strength and attractive dividend payouts. The company’s growth prospects, although scored slightly lower, remain positive, supported by its resilient operations. The Momentum score further underlines the current bullish market sentiment towards Fulton Financial, suggesting a favorable outlook for the company in the long term.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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