Welcome to our dedicated page for Fulton Financial news (Ticker: FULT), a resource for investors and traders seeking the latest updates and insights on Fulton Financial stock.
Fulton Financial Corporation (symbol: FULT) is a substantial regional financial holding company with assets exceeding $17 billion. Headquartered in Lancaster, Pennsylvania, the company operates around 250 offices and ATMs across five states: Pennsylvania, Maryland, Delaware, New Jersey, and Virginia.
Founded in 1882, the flagship bank, Fulton Bank, has a long-standing presence in South Central Pennsylvania, Delaware, and Virginia. Fulton Financial Corporation's business model includes a suite of consumer and commercial banking products such as checking and savings accounts, loan products, and wealth management services. The company's revenue streams include non-interest income from its robust Wealth Management division.
Through its affiliates, Fulton Financial Advisors, N.A. and Fulton Mortgage Company, the corporation provides a broad array of services. Fulton Financial Advisors offers trust, brokerage, and investment management services, while Fulton Mortgage Company specializes in residential mortgage services.
With a community-oriented banking style, Fulton Financial Corporation prides itself on maintaining strong personal relationships and community support. Their customer-centric approach ensures that they can listen to and meet the needs of their clients effectively.
Recent projects and partnerships highlight Fulton Financial Corporation's commitment to growth and innovation, adapting to the ever-evolving financial landscape while maintaining its traditional values.
Fulton Financial Corporation (NASDAQ:FULT) reported net income of $62 million, or $0.38 per diluted share, for Q2 2021. Key highlights include a decrease in net interest income to $162 million, attributed to lower Paycheck Protection Program (PPP) fee income. Total average net loans fell by $74 million to $18.9 billion, impacted by $639 million of PPP loans forgiven. Non-interest income decreased by $10 million to $52 million due to lower mortgage banking income. Non-interest expenses decreased by $38 million to $141 million, reflecting costs from prior quarter restructuring. The effective tax rate was stable at 16%.
Fulton Financial Corporation (Nasdaq:FULT) will release its second quarter 2021 earnings on July 20 at 4:30 p.m. ET. A conference call for analysts is scheduled for July 21 at 10:00 a.m. ET, hosted by CEO E. Philip Wenger, along with President Curtis J. Myers and CFO Mark R. McCollom. Interested parties can access the call via webcast at this link or by phone at (844) 264-2102, Conference ID: 3899811. Fulton Financial is a $26 billion financial holding company with over 200 branches across five states.
The Board of Directors of Fulton Financial Corporation (FULT) has announced a quarterly cash dividend of $0.14 per share on its common stock, payable on July 15, 2021, to shareholders of record as of July 1, 2021. Additionally, a quarterly dividend of $12.81 per share on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, will be paid to holders of record as of June 30, 2021. Fulton Financial Corporation, valued at $26 billion, operates over 200 branches across five states.
George K. Martin has been appointed to the board of directors of Fulton Financial Corporation (NASDAQ: FULT) effective May 25, 2021. He fills the position left by retiring director Patrick Freer. Martin, who has been a partner at McGuire Woods LLP since 1990, holds extensive experience in construction and commercial real estate law. He has served on the Fulton Bank board since 2016 and is active in various community roles, including being an adjunct professor at the University of Virginia School of Law.
Fulton Financial Corporation (NASDAQ: FULT) reported a net income of $70 million, or $0.43 per diluted share, for the first quarter of 2021. The company experienced record EPS, a strong mortgage business, and growth in wealth management. Net interest income increased to $164 million, benefiting from PPP loan forgiveness. The balance sheet restructuring announced in March is expected to enhance net interest income moving forward. Non-interest income rose 11%, while non-interest expenses were impacted by restructuring costs, totaling $178 million, a 25% increase from last year.
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.
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