NasdaqGS:FULT

Stock Analysis Report

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Executive Summary

Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. More Details

Rewards

Trading at 11.1% below our estimate of its fair value

Pays a reliable dividend of 3.78%

Risk Analysis

No risks detected for FULT from our risk checks.


Snowflake Analysis

Flawless balance sheet established dividend payer.


Similar Companies

Share Price & News

How has Fulton Financial's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FULT is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: FULT's weekly volatility (8%) has been stable over the past year.


Market Performance


7 Day Return

1.9%

FULT

-2.3%

US Banks

2.3%

US Market


1 Year Return

-13.5%

FULT

-6.6%

US Banks

23.8%

US Market

Return vs Industry: FULT underperformed the US Banks industry which returned -6.6% over the past year.

Return vs Market: FULT underperformed the US Market which returned 23.7% over the past year.


Shareholder returns

FULTIndustryMarket
7 Day1.9%-2.3%2.3%
30 Day14.8%7.4%4.8%
90 Day31.8%30.1%14.5%
1 Year-9.0%-13.5%-3.2%-6.6%26.6%23.8%
3 Year-7.8%-18.0%-2.3%-10.7%45.0%35.4%
5 Year36.5%15.2%77.3%54.9%126.2%101.0%

Long-Term Price Volatility Vs. Market

How volatile is Fulton Financial's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Fulton Financial undervalued compared to its fair value and its price relative to the market?

11.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FULT ($14.8) is trading below our estimate of fair value ($16.65)

Significantly Below Fair Value: FULT is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: FULT is poor value based on its PE Ratio (13.7x) compared to the US Banks industry average (12.2x).

PE vs Market: FULT is good value based on its PE Ratio (13.7x) compared to the US market (21.3x).


Price to Earnings Growth Ratio

PEG Ratio: FULT is poor value based on its PEG Ratio (15x)


Price to Book Ratio

PB vs Industry: FULT's PB Ratio (1x) is in line with the US Banks industry average.


Next Steps

Future Growth

How is Fulton Financial forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

0.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FULT's forecast earnings growth (0.9% per year) is below the savings rate (2%).

Earnings vs Market: FULT's earnings (0.9% per year) are forecast to grow slower than the US market (21.6% per year).

High Growth Earnings: FULT's earnings are forecast to grow, but not significantly.

Revenue vs Market: FULT's revenue (3.8% per year) is forecast to grow slower than the US market (10.6% per year).

High Growth Revenue: FULT's revenue (3.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FULT's Return on Equity is forecast to be low in 3 years time (7.4%).


Next Steps

Past Performance

How has Fulton Financial performed over the past 5 years?

6.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FULT has high quality earnings.

Growing Profit Margin: FULT's current net profit margins (22.4%) are lower than last year (27.4%).


Past Earnings Growth Analysis

Earnings Trend: FULT's earnings have grown by 6.2% per year over the past 5 years.

Accelerating Growth: FULT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FULT had negative earnings growth (-22.2%) over the past year, making it difficult to compare to the Banks industry average (-3.6%).


Return on Equity

High ROE: FULT's Return on Equity (6.8%) is considered low.


Next Steps

Financial Health

How is Fulton Financial's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: FULT's Assets to Equity ratio (9.9x) is low.

Allowance for Bad Loans: FULT has a sufficient allowance for bad loans (189%).

Low Risk Liabilities: 89% of FULT's liabilities are made up of primarily low risk sources of funding.

Loan Level: FULT has an appropriate level of Loans to Assets ratio (72%).

Low Risk Deposits: FULT's Loans to Deposits ratio (89%) is appropriate.

Level of Bad Loans: FULT has an appropriate level of bad loans (0.8%).


Next Steps

Dividend

What is Fulton Financial current dividend yield, its reliability and sustainability?

3.78%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FULT's dividend (3.78%) is higher than the bottom 25% of dividend payers in the US market (1.38%).

High Dividend: FULT's dividend (3.78%) is low compared to the top 25% of dividend payers in the US market (3.85%).


Stability and Growth of Payments

Stable Dividend: FULT's dividends per share have been stable in the past 10 years.

Growing Dividend: FULT's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (48%), FULT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FULT's dividends in 3 years are forecast to be well covered by earnings (48.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.6yrs

Average management tenure


CEO

Phil Wenger (62 yo)

8yrs

Tenure

US$3,043,556

Compensation

Mr. E. Philip Wenger, also known as Phil, has been the Chairman and Chief Executive Officer of Fulton Financial Corporation since January 1, 2013. Mr. Wenger was the President at Fulton Financial Corporati...


CEO Compensation Analysis

Compensation vs Market: Phil's total compensation ($USD3.04M) is below average for companies of similar size in the US market ($USD5.01M).

Compensation vs Earnings: Phil's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
E. Wenger
Chairman & CEO8yrsUS$3.04m0.25%
$ 5.9m
Curtis Myers
President1.67yrsUS$1.39m0.072%
$ 1.7m
Mark McCollom
Senior EVP & CFO2.83yrsUS$1.11m0.0073%
$ 175.9k
Beth L. Chivinski
Senior EVP & Chief Risk Officer4.58yrsUS$838.31k0.046%
$ 1.1m
Angela Snyder
Senior Executive VP and Head of Consumer & Community Banking3yrsUS$863.50k0.012%
$ 281.4k
Michael DePorter
Executive VP7.67yrsno data0.0075%
$ 180.9k
Angela Sargent
Senior EVP & Chief Information Officer19yrsno data0.032%
$ 764.1k
Matthew Jozwiak
Senior VP0.25yrno datano data
Daniel Stolzer
Senior EVP3yrsno data0.0049%
$ 117.0k
Laura Wakeley
Senior Vice President of Corporate Communicationsno datano datano data
Avi Patel
Chief Marketing Officer & VP7.58yrsno datano data
Bernadette Taylor
Senior EVP & Chief Human Resources Officer5.67yrsno data0.015%
$ 368.3k

4.6yrs

Average Tenure

57yo

Average Age

Experienced Management: FULT's management team is considered experienced (4.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
E. Wenger
Chairman & CEO8yrsUS$3.04m0.25%
$ 5.9m
Curtis Myers
President1.67yrsUS$1.39m0.072%
$ 1.7m
John Scaldara
Chairman & CEO of the Columbia Bankno datano datano data
Ronald Spair
Independent Director5.33yrsUS$142.50k0.012%
$ 282.3k
Patrick Freer
Independent Director24.75yrsUS$130.00k0.072%
$ 1.7m
Scott Snyder
Independent Director4.5yrsUS$136.25k0.0040%
$ 96.8k
James Moxley
Independent Lead Director2.58yrsUS$168.25k0.090%
$ 2.2m
Warner Knobe
Chair of The Bankno datano datano data
Lisa Crutchfield
Independent Director6.58yrsUS$142.50k0.0074%
$ 176.8k
Mark Strauss
Independent Director5yrsUS$137.00k0.015%
$ 366.2k
Denise Devine
Independent Director8.08yrsUS$142.50k0.012%
$ 293.9k
Jennifer Carey
Director1.67yrsUS$108.67k0.0025%
$ 60.8k

5.2yrs

Average Tenure

59yo

Average Age

Experienced Board: FULT's board of directors are considered experienced (5.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Fulton Financial Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Fulton Financial Corporation
  • Ticker: FULT
  • Exchange: NasdaqGS
  • Founded: 1882
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$2.403b
  • Shares outstanding: 162.35m
  • Website: https://www.fult.com

Number of Employees


Location

  • Fulton Financial Corporation
  • One Penn Square
  • PO Box 4887
  • Lancaster
  • Pennsylvania
  • 17604
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FULTNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDAug 1984
FU5DB (Deutsche Boerse AG)YesCommon StockDEEURAug 1984
FULT.PNasdaqGS (Nasdaq Global Select)DEP PER PFD SR AUSUSDOct 2020

Biography

Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings de...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/22 23:24
End of Day Share Price2021/01/22 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.