NasdaqGS:FULT

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Flawless balance sheet and good value.


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


Market Performance


7 Day Return

-0.3%

FULT

1.4%

US Banks

1.0%

US Market


1 Year Return

-2.4%

FULT

0.2%

US Banks

6.7%

US Market

Return vs Industry: FULT underperformed the US Banks industry which returned 0.2% over the past year.

Return vs Market: FULT underperformed the US Market which returned 6.7% over the past year.


Shareholder returns

FULTIndustryMarket
7 Day-0.3%1.4%1.0%
30 Day-7.4%-2.6%-1.8%
90 Day-3.6%0.8%-1.8%
1 Year1.1%-2.4%3.1%0.2%9.1%6.7%
3 Year20.8%10.7%52.0%41.5%46.1%36.6%
5 Year68.3%45.3%69.7%51.2%66.9%48.6%

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?

5.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: FULT ($15.72) is trading below our estimate of fair value ($16.7)

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


Price To Earnings Ratio

PE vs Industry: FULT is good value based on its PE Ratio (11.3x) compared to the Banks industry average (12.5x).

PE vs Market: FULT is good value based on its PE Ratio (11.3x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: FULT's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: FULT is good value based on its PB Ratio (1.1x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Fulton Financial forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

-2.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FULT's earnings are forecast to decline over the next 3 years (-2.7% per year).

Earnings vs Market: FULT's earnings are forecast to decline over the next 3 years (-2.7% per year).

High Growth Earnings: FULT's earnings are forecast to decline over the next 3 years.

Revenue vs Market: FULT's revenue (2.5% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: FULT's revenue (2.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: FULT's Return on Equity is forecast to be low in 3 years time (9%).


Next Steps

Past Performance

How has Fulton Financial performed over the past 5 years?

7.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: FULT's earnings have grown by 7% per year over the past 5 years.

Accelerating Growth: FULT's earnings growth over the past year (43.3%) exceeds its 5-year average (7% per year).

Earnings vs Industry: FULT earnings growth over the past year (43.3%) exceeded the Banks industry 31.8%.


Return on Equity

High ROE: FULT's Return on Equity (10.4%) is considered low.


Return on Assets

ROA vs Industry: FULT has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate FULT's Return on Capital Employed to determine if it has improved over the past 3 years.


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

Inventory Level: FULT has a low level of unsold assets or inventory.

Debt Coverage by Assets: FULT's debt is not covered by short term assets (assets are 0.3x debt).


Financial Institutions Analysis

Asset Level: FULT's level of assets compared to its equity is low.

Allowance for Bad Loans: FULT has a sufficient allowance for bad loans.

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

Loan Level: FULT has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FULT's loans are broadly funded by customer deposits.

Level of Bad Loans: FULT has an appropriate level of bad loans (0.9%)


Next Steps

Dividend

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

3.56%

Current Dividend Yield


Dividend Yield vs Market

company3.6%marketbottom25%1.5%markettop25%3.8%industryaverage3.1%forecastin3Years3.5%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: FULT's dividend (3.56%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: FULT's dividend (3.56%) is low compared to the top 25% of dividend payers in the US market (3.77%).

Stable Dividend: FULT's dividend payments have been volatile in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (35.8%), 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 (42.3% payout ratio).


Next Steps

Management

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

4.1yrs

Average management tenure


CEO

Phil Wenger (61yo)

6.8yrs

Tenure

US$2,836,960

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 ($USD2.84M) is about average for companies of similar size in the US market ($USD5.11M).

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


Management Age and Tenure

4.1yrs

Average Tenure

54yo

Average Age

Experienced Management: FULT's management team is considered experienced (4.1 years average tenure).


Board Age and Tenure

4.7yrs

Average Tenure

58yo

Average Age

Experienced Board: FULT's board of directors are considered experienced (4.7 years average tenure).


Insider Trading

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


Recent Insider Transactions

SellUS$50,73021 May 19
Michael DePorter
EntityIndividual
Role
Chief Accounting Officer
Executive VP
Shares3,000
Max PriceUS$16.91
SellUS$87,72210 May 19
David Campbell
EntityIndividual
Shares5,160.12
Max PriceUS$17.00
SellUS$224,05018 Dec 18
Angela Sargent
EntityIndividual
Role
Chief Information Officer
Senior EVP & Chief Information Officer
Shares13,780
Max PriceUS$16.26
SellUS$1018 Dec 18
George Hodges
EntityIndividual
Shares0.66
Max PriceUS$15.85
BuyUS$334,59606 Dec 18
Ronald Spair
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares20,000
Max PriceUS$16.73
SellUS$914 Nov 18
Bernadette Taylor
EntityIndividual
Shares0.53
Max PriceUS$16.65
BuyUS$33,41113 Nov 18
Ernest Waters
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares2,000
Max PriceUS$16.71
BuyUS$100,03113 Nov 18
David Campbell
EntityIndividual
Shares6,002
Max PriceUS$16.67

Ownership Breakdown


Management Team

  • Phil Wenger (61yo)

    Chairman & CEO

    • Tenure: 6.8yrs
    • Compensation: US$2.84m
  • Mark McCollom (55yo)

    Senior EVP & CFO

    • Tenure: 1.6yrs
    • Compensation: US$1.04m
  • Michael DePorter

    Executive VP

    • Tenure: 6.4yrs
  • Daniel Stolzer (62yo)

    Senior EVP

    • Tenure: 1.8yrs
  • Angela Snyder (54yo)

    Senior EVP & Head of Consumer Banking

    • Tenure: 1.8yrs
    • Compensation: US$816.36k
  • Curt Myers (50yo)

    President

    • Tenure: 0.4yrs
    • Compensation: US$1.27m
  • Meg Mueller (54yo)

    Senior EVP & Head of Commercial Banking

    • Tenure: 6.8yrs
    • Compensation: US$785.02k
  • Angela Sargent (51yo)

    Senior EVP & Chief Information Officer

    • Tenure: 17.8yrs
  • Jason Weber

    Senior VP & Director of Corporate Development

    • Tenure: 0yrs
  • Laura Wakeley

    Senior Vice President of Corporate Communications

    • Tenure: 0yrs

Board Members

  • Ron Spair (63yo)

    Independent Director

    • Tenure: 4.1yrs
    • Compensation: US$128.52k
  • John Scaldara (55yo)

    Chairman & CEO of the Columbia Bank

    • Tenure: 0yrs
  • Scott Snyder (54yo)

    Independent Director

    • Tenure: 3.3yrs
    • Compensation: US$103.02k
  • Rob Moxley (58yo)

    Independent Lead Director

    • Tenure: 1.3yrs
    • Compensation: US$149.02k
  • Phil Wenger (61yo)

    Chairman & CEO

    • Tenure: 6.8yrs
    • Compensation: US$2.84m
  • Warner Knobe

    Chair of The Bank

    • Tenure: 0yrs
  • Lisa Crutchfield (55yo)

    Independent Director

    • Tenure: 5.3yrs
    • Compensation: US$119.52k
  • Denise Devine (63yo)

    Independent Director

    • Tenure: 6.8yrs
    • Compensation: US$127.52k
  • Ernie Waters (69yo)

    Independent Director

    • Tenure: 6.8yrs
    • Compensation: US$140.52k
  • Curt Myers (50yo)

    President

    • Tenure: 0.4yrs
    • Compensation: US$1.27m

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$2.614b
  • Shares outstanding: 166.27m
  • 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

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 Analysis2019/10/14 23:35
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.