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Fulton Financial

Nasdaq:FULT
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FULT
Nasdaq
$3B
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. The last earnings update was 9 days ago. More info.


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FULT Share Price and Events
7 Day Returns
-1.7%
NasdaqGS:FULT
-5.2%
US Banks
-3.1%
US Market
1 Year Returns
-11.8%
NasdaqGS:FULT
-16.1%
US Banks
-1.7%
US Market
FULT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fulton Financial (FULT) -1.7% -3.3% -5% -11.8% 13.4% 38%
US Banks -5.2% -7.8% -5.8% -16.1% 29.4% 33.3%
US Market -3.1% -5.3% -1.2% -1.7% 28.2% 35%
1 Year Return vs Industry and Market
  • FULT outperformed the Banks industry which returned -16.1% over the past year.
  • FULT underperformed the Market in United States of America which returned -1.7% over the past year.
Price Volatility
FULT
Industry
5yr Volatility vs Market

FULT Value

 Is Fulton Financial undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Fulton Financial to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Fulton Financial.

NasdaqGS:FULT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 8 analysts.
= Stable Book Value * Return on Equity
= $15.04 * 9.7%
$1.47
Book Value of Equity per Share Weighted future Book Value estimates from 8 analysts. $15.04
Discount Rate (Cost of Equity) See below 8.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:FULT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.56
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.559 (1 + (1- 21%) (89.35%))
0.969
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.969 * 5.96%)
8.51%

Discounted Cash Flow Calculation for NasdaqGS:FULT using Excess Returns Model Model

The calculations below outline how an intrinsic value for Fulton Financial is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:FULT Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.7% – 8.51%) * $15.04)
$0.19
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.19 / (8.51% - 2.73%)
$3.22
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $15.04 + $3.22
$18.26
NasdaqGS:FULT Discount to Share Price
Calculation Result
Value per share (USD) From above. $18.26
Current discount Discount to share price of $15.92
= -1 x ($15.92 - $18.26) / $18.26
12.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Fulton Financial is available for.
Intrinsic value
13%
Share price is $15.92 vs Future cash flow value of $18.26
Current Discount Checks
For Fulton Financial to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Fulton Financial's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Fulton Financial's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Fulton Financial's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Fulton Financial's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:FULT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $1.39
NasdaqGS:FULT Share Price ** NasdaqGS (2019-08-16) in USD $15.92
United States of America Banks Industry PE Ratio Median Figure of 598 Publicly-Listed Banks Companies 12.2x
United States of America Market PE Ratio Median Figure of 3,093 Publicly-Listed Companies 17.02x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Fulton Financial.

NasdaqGS:FULT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:FULT Share Price ÷ EPS (both in USD)

= 15.92 ÷ 1.39

11.41x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Fulton Financial is good value based on earnings compared to the US Banks industry average.
  • Fulton Financial is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Fulton Financial's expected growth come at a high price?
Raw Data
NasdaqGS:FULT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.41x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
-0.1%per year
United States of America Banks Industry PEG Ratio Median Figure of 272 Publicly-Listed Banks Companies 1.11x
United States of America Market PEG Ratio Median Figure of 2,115 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

NasdaqGS:FULT PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.41x ÷ -0.1%

-141.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Fulton Financial earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Fulton Financial's assets?
Raw Data
NasdaqGS:FULT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $13.83
NasdaqGS:FULT Share Price * NasdaqGS (2019-08-16) in USD $15.92
United States of America Banks Industry PB Ratio Median Figure of 599 Publicly-Listed Banks Companies 1.14x
United States of America Market PB Ratio Median Figure of 5,261 Publicly-Listed Companies 1.67x
NasdaqGS:FULT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:FULT Share Price ÷ Book Value per Share (both in USD)

= 15.92 ÷ 13.83

1.15x

* Primary Listing of Fulton Financial.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Fulton Financial is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess Fulton Financial's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Fulton Financial has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FULT Future Performance

 How is Fulton Financial expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-0.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Fulton Financial expected to grow at an attractive rate?
  • Fulton Financial's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Fulton Financial's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Fulton Financial's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:FULT Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:FULT Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts -0.1%
NasdaqGS:FULT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 3.6%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 1.6%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:FULT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:FULT Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 944 238 2
2020-12-31 897 233 6
2019-12-31 880 236 6
NasdaqGS:FULT Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 833 241 240
2019-03-31 791 263 216
2018-12-31 779 297 208
2018-09-30 773 276 184
2018-06-30 756 335 168
2018-03-31 768 290 178
2017-12-31 755 288 172
2017-09-30 728 257 180
2017-06-30 714 199 172
2017-03-31 706 221 167
2016-12-31 698 226 162
2016-09-30 697 186 158

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Fulton Financial's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Fulton Financial's revenue is expected to grow by 3.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:FULT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Fulton Financial Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:FULT Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.45 1.48 1.41 3.00
2020-12-31 1.41 1.47 1.29 10.00
2019-12-31 1.40 1.42 1.38 10.00
NasdaqGS:FULT Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 1.39
2019-03-31 1.24
2018-12-31 1.19
2018-09-30 1.05
2018-06-30 0.96
2018-03-31 1.02
2017-12-31 0.98
2017-09-30 1.03
2017-06-30 0.99
2017-03-31 0.96
2016-12-31 0.93
2016-09-30 0.91

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Fulton Financial is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Fulton Financial's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Fulton Financial has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FULT Past Performance

  How has Fulton Financial performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Fulton Financial's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Fulton Financial's year on year earnings growth rate has been positive over the past 5 years.
  • Fulton Financial's 1-year earnings growth exceeds its 5-year average (43.3% vs 7%)
  • Fulton Financial's earnings growth has exceeded the US Banks industry average in the past year (43.3% vs 33.2%).
Earnings and Revenue History
Fulton Financial's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Fulton Financial Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:FULT Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 832.90 240.16 468.84
2019-03-31 790.96 215.58 457.56
2018-12-31 779.07 208.39 457.33
2018-09-30 773.38 184.31 462.90
2018-06-30 755.68 167.58 455.89
2018-03-31 768.07 177.85 453.82
2017-12-31 754.93 171.75 439.73
2017-09-30 728.44 179.90 435.96
2017-06-30 714.09 172.47 429.67
2017-03-31 705.56 166.75 422.81
2016-12-31 697.77 161.63 422.60
2016-09-30 697.29 158.01 418.44
2016-06-30 685.28 150.79 419.30
2016-03-31 678.23 147.72 420.30
2015-12-31 679.58 149.50 404.12
2015-09-30 670.21 148.92 421.33
2015-06-30 674.13 153.23 419.22
2015-03-31 676.19 156.15 416.67
2014-12-31 669.75 157.89 407.94
2014-09-30 673.79 162.03 417.87
2014-06-30 676.42 163.41 411.84
2014-03-31 678.03 164.40 405.54
2013-12-31 674.36 161.84 401.00
2013-09-30 671.20 160.00 385.22
2013-06-30 667.74 161.63 380.46
2013-03-31 662.20 160.94 374.58
2012-12-31 662.63 159.85 381.19
2012-09-30 651.40 155.68 365.64

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Fulton Financial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Fulton Financial used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Fulton Financial improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Fulton Financial's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Fulton Financial has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FULT Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Fulton Financial's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Fulton Financial Company Filings, last reported 1 month ago.

NasdaqGS:FULT Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 2,308.80 2,254.16 280.01
2019-03-31 2,301.02 1,944.77 347.91
2018-12-31 2,247.57 1,795.62 306.73
2018-09-30 2,283.01 1,553.18 357.39
2018-06-30 2,245.79 2,038.98 311.11
2018-03-31 2,235.49 1,927.83 359.77
2017-12-31 2,229.86 1,695.26 308.70
2017-09-30 2,225.79 1,378.98 732.31
2017-06-30 2,191.77 1,776.78 467.89
2017-03-31 2,154.68 1,632.98 423.75
2016-12-31 2,121.12 1,513.12 284.45
2016-09-30 2,129.44 1,311.57 539.20
2016-06-30 2,107.00 1,773.03 519.65
2016-03-31 2,073.31 1,382.54 495.95
2015-12-31 2,041.89 1,480.55 275.33
2015-09-30 2,025.90 1,450.69 645.41
2015-06-30 2,024.82 1,562.36 446.40
2015-03-31 2,031.51 1,536.53 763.86
2014-12-31 1,996.67 1,491.53 389.39
2014-09-30 2,078.01 1,595.59 525.85
2014-06-30 2,099.80 1,989.27 495.01
2014-03-31 2,058.72 1,960.18 493.87
2013-12-31 2,063.19 2,147.77 297.18
2013-09-30 2,028.96 2,095.65 493.30
2013-06-30 2,028.73 2,517.09 366.88
2013-03-31 2,061.76 2,024.44 284.99
2012-12-31 2,081.66 1,772.28 343.67
2012-09-30 2,060.68 1,411.85 441.23
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Fulton Financial has an acceptable proportion of non-loan assets held.
  • Fulton Financial's liabilities are made up of primarily low risk sources of funding.
  • Loans at Fulton Financial are broadly funded by customer deposits.
  • Fulton Financial's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Fulton Financial has a sufficient allowance for bad loans.
  • Fulton Financial has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Fulton Financial's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Fulton Financial has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FULT Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.52%
Current annual income from Fulton Financial dividends. Estimated to be 3.48% next year.
If you bought $2,000 of Fulton Financial shares you are expected to receive $70 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Fulton Financial's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.5%).
  • Fulton Financial's dividend is below the markets top 25% of dividend payers in United States of America (3.9%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:FULT Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 480 Stocks 3.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:FULT Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.56 3.00
2020-12-31 0.57 9.00
2019-12-31 0.53 9.00
NasdaqGS:FULT Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-06-18 0.560 3.436
2019-03-19 0.560 3.421
2018-11-19 0.520 3.188
2018-09-18 0.510 3.076
2018-06-19 0.510 2.926
2018-03-20 0.510 2.917
2017-11-20 0.470 2.553
2017-09-19 0.460 2.498
2017-06-20 0.460 2.555
2017-03-21 0.460 2.554
2016-11-23 0.420 2.249
2016-09-20 0.420 2.768
2016-06-21 0.420 3.028
2016-03-15 0.380 2.781
2015-11-18 0.380 2.927
2015-11-06 0.360 2.539
2015-11-03 0.360 2.587
2015-10-20 0.360 2.708
2015-06-16 0.360 2.857
2015-03-17 0.360 2.874
2014-11-05 0.320 2.664
2014-09-16 0.320 2.841
2014-06-17 0.320 2.726
2014-03-18 0.320 2.609
2013-12-17 0.320 2.531
2013-09-17 0.320 2.610
2013-06-18 0.320 2.638
2013-03-19 0.320 2.817
2012-12-10 0.320 3.002
2012-09-18 0.320 3.268
2012-06-19 0.280 2.877
2012-03-20 0.280 2.752
2011-12-20 0.240 2.441
2011-09-20 0.200 2.252
2011-06-21 0.200 2.121
2011-03-15 0.160 1.451
2010-12-21 0.120 1.133
2010-09-21 0.120 1.309
2010-06-15 0.120 1.312
2010-03-16 0.120 1.159
2009-12-15 0.120 1.312
2009-09-15 0.120 1.504
2009-06-16 0.120 1.936
2009-03-17 0.120 1.887
2008-10-21 0.600 7.382

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Fulton Financial's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Fulton Financial's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Fulton Financial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Fulton Financial has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FULT Management

 What is the CEO of Fulton Financial's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Phil Wenger
COMPENSATION $2,836,960
AGE 61
TENURE AS CEO 6.6 years
CEO Bio

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 Corporation since December 2008 to 2017. He served as the Chief Operating Officer of Fulton Financial Corporation from December 2008 to 2012. Mr. Wenger served as the Chief Executive Officer of Fulton Bank at Fulton Financial Corp., from January 2006 to October 2006 and served as its Senior Executive Vice President from January 2006 to December 2008. He served as a Senior Executive Vice of Community Banking at Fulton Financial Corp. He served as President and Chief Operating Officer at Fulton Bank (Lancaster, PA) from 2003 to 2006. He joined Fulton Bank in 1979 as a participant in the Management Training Program. He served as an Executive Vice President, Corporate Banking of Fulton Bank since 1996. He served as Senior Vice President of the Lancaster, York and Chester Counties Division from 2001 to 2003. He served as Chairman of Fulton Bank at Fulton Financial Corp., from January 2006 to February 2009. He has been Director of Fulton Financial Corp. since March 2009. He served as a Director of Fulton Bank (Lancaster, PA) from 2003 to 2009. He serves on the boards of Lancaster County Conservancy, St. Anne's School and the Lancaster County YMCA Foundation. Mr. Wenger serves on the Board of Directors for the Pennsylvania Chamber of Commerce and Crispus Attucks Community Center. He is Chair of the Advisory Board of Stonier Graduate School of Banking as well as a member of the Penn State Harrisburg Board of Advisers. Mr. Wenger is also a member of the American Bankers Association board of directors and the Operation HOPE Global board of directors, a global financial dignity and economic empowerment nonprofit. He was chair of the Lancaster Chamber of Commerce. Mr. Wenger holds a Bachelor of Science degree in Finance and a Master of Business Administration degree from the Pennsylvania State University. He is also a graduate of the Stonier Graduate School of Banking.

CEO Compensation
  • Phil's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Phil's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Fulton Financial management team in years:

3.9
Average Tenure
54
Average Age
  • The tenure for the Fulton Financial management team is about average.
Management Team

Phil Wenger

TITLE
Chairman & CEO
COMPENSATION
$3M
AGE
61
TENURE
6.6 yrs

Curt Myers

TITLE
President
COMPENSATION
$1M
AGE
50
TENURE
1.6 yrs

Mark McCollom

TITLE
Senior EVP & CFO
COMPENSATION
$1M
AGE
55
TENURE
1.4 yrs

Angela Snyder

TITLE
Senior EVP & Head of Consumer Banking
COMPENSATION
$816K
AGE
54
TENURE
1.6 yrs

Meg Mueller

TITLE
Senior EVP & Head of Commercial Banking
COMPENSATION
$785K
AGE
54
TENURE
6.6 yrs

Michael DePorter

TITLE
Executive VP
TENURE
6.3 yrs

Angela Sargent

TITLE
Senior EVP & Chief Information Officer
AGE
51
TENURE
17.6 yrs

Jason Weber

TITLE
Senior VP & Director of Corporate Development

Daniel Stolzer

TITLE
Senior EVP
AGE
62
TENURE
1.6 yrs

Laura Wakeley

TITLE
Senior Vice President of Corporate Communications
Board of Directors Tenure

Average tenure and age of the Fulton Financial board of directors in years:

4.5
Average Tenure
58
Average Age
  • The tenure for the Fulton Financial board of directors is about average.
Board of Directors

Phil Wenger

TITLE
Chairman & CEO
COMPENSATION
$3M
AGE
61
TENURE
6.6 yrs

Curt Myers

TITLE
President
COMPENSATION
$1M
AGE
50
TENURE
0.3 yrs

John Scaldara

TITLE
Chairman & CEO of the Columbia Bank
AGE
55

Warner Knobe

TITLE
Chair of The Bank

Denise Devine

TITLE
Independent Director
COMPENSATION
$128K
AGE
63
TENURE
6.7 yrs

Ernie Waters

TITLE
Independent Director
COMPENSATION
$141K
AGE
69
TENURE
6.7 yrs

Lisa Crutchfield

TITLE
Independent Director
COMPENSATION
$120K
AGE
55
TENURE
5.2 yrs

Rob Moxley

TITLE
Independent Lead Director
COMPENSATION
$149K
AGE
58
TENURE
1.2 yrs

Ron Spair

TITLE
Independent Director
COMPENSATION
$129K
AGE
63
TENURE
3.9 yrs

Scott Snyder

TITLE
Independent Director
COMPENSATION
$103K
AGE
54
TENURE
3.1 yrs
Who owns this company?
Recent Insider Trading
  • Fulton Financial individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
21. May 19 Sell Michael DePorter Individual 17. May 19 17. May 19 -3,000 $16.91 $-50,730
10. May 19 Sell David Campbell Individual 10. May 19 10. May 19 -5,160 $17.00 $-87,722
18. Dec 18 Sell George Hodges Individual 14. Dec 18 14. Dec 18 -1 $15.85 $-10
06. Dec 18 Buy Ronald Spair Individual 04. Dec 18 04. Dec 18 20,000 $16.73 $334,596
18. Dec 18 Sell Angela Sargent Individual 04. Dec 18 04. Dec 18 -13,780 $16.26 $-224,050
14. Nov 18 Sell Bernadette Taylor Individual 13. Nov 18 13. Nov 18 -1 $16.65 $-9
13. Nov 18 Buy David Campbell Individual 08. Nov 18 08. Nov 18 6,002 $16.67 $100,031
13. Nov 18 Buy Ernest Waters Individual 08. Nov 18 08. Nov 18 2,000 $16.71 $33,411
X
Management checks
We assess Fulton Financial's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Fulton Financial has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FULT News

Simply Wall St News

How Fulton Financial Corporation (NASDAQ:FULT) Can Impact Your Portfolio Volatility

Anyone researching Fulton Financial Corporation (NASDAQ:FULT) might want to consider the historical volatility of the share price. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … What this means for you: Fulton Financial has a beta value quite close to that of the overall market.

Simply Wall St -

Does Fulton Financial Corporation's (NASDAQ:FULT) CEO Salary Reflect Performance?

View our latest analysis for Fulton Financial How Does Phil Wenger's Compensation Compare With Similar Sized Companies? … Our data indicates that Fulton Financial Corporation is worth US$2.8b, and total annual CEO compensation is US$2.8m. … With a total shareholder return of 32% over three years, Fulton Financial Corporation shareholders would, in general, be reasonably content.

Simply Wall St -

How Does Fulton Financial Corporation (NASDAQ:FULT) Fare As A Dividend Stock?

A shrinking dividend over a ten-year period is not ideal, and we'd be concerned about investing in a dividend stock that lacks a solid record of growing dividends per share. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Fulton Financial has grown its earnings per share at 11% per annum over the past five years. … Conclusion To summarise, shareholders should always check that Fulton Financial's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend.

Simply Wall St -

Don't Sell Fulton Financial Corporation (NASDAQ:FULT) Before You Read This

We'll apply a basic P/E ratio analysis to Fulton Financial Corporation's (NASDAQ:FULT), to help you decide if the stock is worth further research. … View our latest analysis for Fulton Financial How Do I Calculate A Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Fulton Financial: P/E of 13.38 = $16.57 ÷ $1.24 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good?

Simply Wall St -

Be Sure To Check Out Fulton Financial Corporation (NASDAQ:FULT) Before It Goes Ex-Dividend

Check out our latest analysis for Fulton Financial Dividends are usually paid out of company profits, so if a company pays out more than it earned then its dividend is usually at greater risk of being cut. … Businesses with strong growth prospects usually make the best dividend payers, because it's easier to grow dividends when earnings per share are improving. … With that in mind, we're encouraged by the steady growth at Fulton Financial, with earnings per share up 8.2% on average over the last five years.

Simply Wall St -

Why You Might Be Interested In Fulton Financial Corporation (NASDAQ:FULT) For Its Upcoming Dividend

Fulton Financial's next dividend payment will be US$0.13 per share, on the back of last year when the company paid a total of US$0.56 to shareholders. … Based on the last year's worth of payments, Fulton Financial stock has a trailing yield of around 3.5% on the current share price of $15.86. … Fulton Financial has seen its earnings per share grow slowly in recent years, and the company reinvests more than half of its profits in the business, which generally bodes well for its future prospects.

Simply Wall St -

Introducing Fulton Financial (NASDAQ:FULT), A Stock That Climbed 30% In The Last Five Years

But Fulton Financial Corporation (NASDAQ:FULT) has fallen short of that second goal, with a share price rise of 30% over five years, which is below the market return. … During five years of share price growth, Fulton Financial achieved compound earnings per share (EPS) growth of 7.6% per year. … We note that for Fulton Financial the TSR over the last 5 years was 50%, which is better than the share price return mentioned above.

Simply Wall St -

Are Insiders Buying Fulton Financial Corporation (NASDAQ:FULT) Stock?

So we'll take a look at whether insiders have been buying or selling shares in Fulton Financial Corporation (NASDAQ:FULT). … Fulton Financial Insiders Are Selling The Stock The last quarter saw substantial insider selling of Fulton Financial shares. … Insider Ownership of Fulton Financial For a common shareholder, it is worth checking how many shares are held by company insiders.

Simply Wall St -

Should You Be Adding Fulton Financial (NASDAQ:FULT) To Your Watchlist Today?

But as Peter Lynch said in One Up On Wall Street, 'Long shots almost never pay off.' If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Fulton Financial (NASDAQ:FULT). … Over the last 12 months Fulton Financial insiders spent US$156k more buying shares than they received from selling them. … Along with the insider buying, another encouraging sign for Fulton Financial is that insiders, as a group, have a considerable shareholding.

Simply Wall St -

How Does Investing In Fulton Financial Corporation (NASDAQ:FULT) Impact The Volatility Of Your Portfolio?

Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

FULT Company Info

Description

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 deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans. In addition, it provides equipment leasing, letters of credit, cash management services, and traditional deposit products; and investment management, trust, brokerage, insurance, and investment advisory services. Further, the company owns investment securities and other investments, as well as trust preferred securities; and sells various life insurance products. It provides its products and services through branch banking, as well as through a network of automated teller machines, telephone banking, mobile banking, and online banking. As of December 31, 2018, the company operated 234 branches in Pennsylvania, Maryland, Delaware, New Jersey, and Virginia. Fulton Financial Corporation was founded in 1882 and is headquartered in Lancaster, Pennsylvania.

Details
Name: Fulton Financial Corporation
FULT
Exchange: NasdaqGS
Founded: 1882
$2,647,018,400
166,270,000
Website: http://www.fult.com
Address: Fulton Financial Corporation
One Penn Square,
PO Box 4887,
Lancaster,
Pennsylvania, 17604,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS FULT Common Stock Nasdaq Global Select US USD 24. Aug 1984
DB FU5 Common Stock Deutsche Boerse AG DE EUR 24. Aug 1984
Number of employees
Current staff
Staff numbers
3,500
Fulton Financial employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/08/16 23:34
End of day share price update: 2019/08/16 00:00
Last estimates confirmation: 2019/07/19
Last earnings filing: 2019/08/07
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.