Fulton Financial Corp - FULT STOCK NEWS

Fulton Financial Corporation (NASDAQ: FULT) announced a quarterly cash dividend of 15 cents per share, payable on January 13, 2023. This follows a dividend of $12.81 per share on its preferred stock, due on January 17, 2023. Additionally, Fulton approved a $100 million share repurchase program commencing January 1, 2023, set to expire on December 31, 2023. The program aims to enhance shareholder value as it is subject to market conditions.

Fulton Financial Corporation (NASDAQ: FULT) announced the merger of Prudential Bank with Fulton Bank, effective November 5, 2022. Former Prudential Bank customers can now access a full suite of Fulton Bank’s products and services. This merger enhances Fulton Bank's presence in the Philadelphia area, allowing them to serve a broader customer base.

Additionally, Fulton previously contributed $2 million to the Fulton Forward Foundation aimed at supporting economic empowerment in underserved communities. The merger is expected to strengthen the bank's community relationships.

Fulton Financial Corporation (NASDAQ:FULT) reported a third quarter net income of $68.3 million, or $0.40 per diluted share, marking a 1.3% increase from the previous quarter. For the nine months ending September 30, 2022, net income was $197.5 million, a 4.1% decrease compared to the same period in 2021. The strong quarterly performance was attributed to rising interest rates boosting net interest income to $215.6 million, a 25.9% increase year-over-year, aided by the July acquisition of Prudential Bancorp.

Fulton Financial Corporation (FULT) will release its third quarter 2022 earnings on October 18 at 4:30 p.m. Eastern Time. A conference call for analysts will follow on October 19 at 10:00 a.m. Eastern Time, hosted by Chairman and CEO E. Philip Wenger, alongside President Curtis J. Myers and CFO Mark R. McCollom. Fulton Financial, a financial holding company based in Lancaster, PA, has $26 billion in assets and operates over 200 branches across several states including Pennsylvania, Maryland, Delaware, New Jersey, and Virginia.

The Board of Directors of Fulton Financial Corporation (NASDAQ: FULT) has declared a quarterly cash dividend of $0.15 per share on its common stock, payable on October 17, 2022, to shareholders of record as of October 3, 2022. Additionally, a dividend of $12.81 per share on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, will also be payable on October 17, 2022, to holders of record as of October 2, 2022.

Fulton, a $25 billion financial holding company based in Lancaster, PA, operates over 200 branches across Pennsylvania, Maryland, Delaware, New Jersey, and Virginia.

Fulton Financial Corporation (NASDAQ:FULT) reported a net income of $67.4 million, or $0.42 per diluted share, for Q2 2022, marking a 9.2% increase from the previous quarter. However, net income for the first half of 2022 totaled $129.2 million, down 2.8% year-over-year. Key drivers included a rise in net interest income to $178.8 million, attributed to increased interest rates and loan originations. The acquisition of Prudential Bancorp was highlighted as a significant milestone. Non-interest expenses rose by 2.1%, influenced by higher salaries and merger-related costs.

Fulton Financial Corporation (NASDAQ: FULT) will announce its Q2 2022 earnings on July 19 at 4:30 PM ET. A conference call for analysts is scheduled for July 20 at 10:00 AM ET, hosted by E. Philip Wenger, CEO, alongside other executives. The call can be accessed via webcast at investor.fultonbank.com. Fulton, based in Lancaster, PA, has approximately $26 billion in assets and operates over 200 branches across Pennsylvania, Maryland, Delaware, New Jersey, and Virginia.

Fulton Financial Corporation (NASDAQ: FULT) has completed the acquisition of Prudential Bancorp, Inc. (formerly NASDAQ: PBIP) in a strategic move to enhance its presence in Philadelphia. The transaction involves Prudential Bancorp being merged into Fulton, with a fixed exchange ratio of 0.7974 of a Fulton share and $3.65 in cash for each Prudential share. Fulton also pledged $2 million to the Fulton Forward® Foundation to support community initiatives in Philadelphia, focusing on economic empowerment.

Fulton Bank, a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), announced changes to its overdraft program, eliminating non-sufficient funds and extended overdraft fees for consumer customers starting in Q4 2022. This decision comes in response to customer feedback and aims to improve consumer banking services. Fulton Bank previously introduced the 'Xpress Account' in 2021, which offers a low-cost alternative with no overdraft fees. The bank emphasizes its commitment to adapting services to meet customer needs and expectations.