Fulton Financial Corp - FULT STOCK NEWS

Fulton Financial Corporation (Nasdaq: FULT) will release its Q1 2021 earnings on April 20, 2021, at 4:30 p.m. ET. The earnings report will include important charts and metrics. Following this, a conference call with key executives, including CEO E. Philip Wenger, will take place on April 21, 2021, at 10:00 a.m. ET. Investors can access the call via a webcast or by dialing in. Fulton Financial operates over 200 branches across five states and has a significant employee base of around 3,300, indicating its strong presence in the financial sector.

Fulton Financial Corporation (Nasdaq: FULT) announced the results of its cash tender offer for two series of notes. As of the Early Tender Date on March 29, 2021, approximately $143.3 million of its 4.500% Subordinated Notes due 2024 and approximately $70.1 million of its 3.60% Senior Notes due 2022 were validly tendered. Due to oversubscription, purchases will adhere to Tender Caps and proration factors. The Total Consideration for accepted notes includes an Early Tender Premium of $30 per $1,000 principal amount. Settlement is expected on March 30, 2021.

Fulton Financial Corporation (Nasdaq: FULT) has announced pricing terms for its cash tender offer to purchase up to $75 million of its 4.500% Subordinated Notes due 2024 and $60 million of its 3.60% Senior Notes due 2022. Holders who tender their Notes by the Early Tender Date of March 29, 2021, will receive a Total Consideration that includes a $30 early tender premium. The Offer will expire on April 13, 2021. Piper Sandler & Co. is acting as Dealer Manager for the Offer, with Global Bondholder Services Corporation serving as the Tender and Information Agent.

The Board of Directors of Fulton Financial Corporation (FULT) has declared a quarterly cash dividend of $0.14 per share on its common stock, an increase of $0.01 from the previous quarter. This dividend is payable on April 15, 2021, to shareholders on record as of April 1, 2021.

Additionally, a dividend of $12.81 per share on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, has been declared, payable on the same date to record holders as of March 31, 2021.

Fulton Financial Corporation (Nasdaq: FULT) has initiated a cash tender offer to buy back its 4.500% Subordinated Notes due 2024 and 3.60% Senior Notes due 2022, with a combined maximum principal amount of $135 million. The offer aims to reduce interest expenses and manage debt. Notes purchased will be retired. The offer will expire on April 13, 2021, and includes an early tender premium for those who respond by March 29, 2021. For more details, holders are encouraged to review the Offer to Purchase and related documents.

Fulton Financial Corporation (Nasdaq: FULT) has announced a share repurchase program for up to $75 million, representing about 3.2% of its outstanding shares, based on the February 5, 2021 closing price. The buyback authorization will remain valid until December 31, 2021. Purchases may occur in the open market or through negotiated transactions, depending on market conditions. With approximately $26 billion in assets and over 200 financial centers operating across five states, Fulton aims to enhance shareholder value through this strategic move.

Fulton Financial Corporation (NASDAQ:FULT) reported a net income of $49 million, or $0.30 per diluted share, for Q4 2020, and $176 million, or $1.08 per diluted share, for the full year. Key highlights include an increase in net interest income to $162 million, driven by Paycheck Protection Program (PPP) loan forgiveness and stable asset quality. However, annual net interest income dropped to $629 million, down $19 million from 2019, amid a declining net interest margin of 2.86%. Total average assets increased to $25.7 billion in Q4 2020, reflecting solid growth despite a challenging low-interest-rate environment.

Fulton Financial Corporation (Nasdaq: FULT) announced the release of its fourth quarter and year-end 2020 earnings on January 19 at 4:30 p.m. ET. A conference call with analysts will follow on January 20 at 10:00 a.m. ET, hosted by CEO E. Philip Wenger, alongside President Curtis J. Myers and CFO Mark R. McCollom. The earnings release and call will provide insights into the company’s financial performance, reflecting its $25.5 billion in assets and 3,300 employees across over 200 branches in five states.

The Board of Directors of Fulton Financial Corporation (Nasdaq: FULT) has declared a quarterly cash dividend of thirteen cents per share on its common stock, payable January 15, 2021, to shareholders of record as of December 31, 2020.

Additionally, a quarterly dividend of $10.82 per share on the Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, is also declared, with payment on January 15, 2021, for holders of record as of December 31, 2020.