Recent News
On April 1, 2026 Fulton completed the acquisition and integration of Blue Foundry Bancorp, expanding its New Jersey footprint. On May 1, 2026 Fulton priced a $300 million fixed-to-floating subordinated notes offering due 2036. On June 15, 2026 Fulton Bank released its 2025 corporate social responsibility report. On June 16, 2026 Fulton’s board declared a $0.19 quarterly common dividend payable July 15, 2026 to shareholders of record July 1, 2026.
Technical Analysis
ADX at 19.99 sits just below the 20 threshold, indicating no established trend; this suggests recent directional signals could remain vulnerable to reversal and that momentum lacks confirmed strength.
DI+ at 25.74 shows a dip-and-reversal, a bullish directional indicator, while DI- at 15.84 displays a peak-and-reversal (decreasing), which also reads as bullish; together these directional indicators favor upside pressure versus downside.
MACD sits at 0.61, rising and above its 0.47 signal line — a bullish momentum cross that supports near-term upside and aligns with the positive DI+ signal.
MRO at 29.24 is positive, implying price currently sits above the oscillator’s target and therefore carries short-term downside risk as mean reversion pressure may emerge despite other bullish signals.
RSI at 60.19 and increasing confirms bullish momentum without an overbought condition; that momentum supports further upside but leaves room for consolidation.
Price relationships reinforce a bullish bias: the close of $24.15 trades above the 20-day ($23.31), 50-day ($22.02) and 200-day ($19.97) averages, and the 12-day EMA (23.46) trends higher, supporting continuation of the recent advance.
Volume at ~2.39M sits below the 10-day average (~2.66M) but above the 50- and 200-day averages (~1.94M and ~1.88M), implying the move shows institutional participation yet lacks the highest short-term conviction measured over the last ten sessions.
Fundamental Analysis
Fulton reported operating EPS of $0.55 for the quarter ending 2026-03-31, beating the $0.49 estimate by $0.06 (a roughly 12.25% surprise). The report date registers as 2026-04-22 and the next scheduled report lists 2026-07-22. Net income from continuing operations registered $94.8 million; net interest income totaled $262.0 million for the period.
Profitability metrics remain modest: return on assets equals 0.294% and return on equity equals 2.861%. Revenue growth registered 0.64% (absolute) trailing the quarter-over-quarter drop of about -80.39% and a year-over-year change of -139.29% as reported; earnings growth YoY reads -100.0%. These QoQ and YoY figures indicate pronounced timing effects within the period and require attention to seasonality and one-off items when modeling near-term performance.
Capital and cash-flow metrics support the balance sheet: cash exceeded $1.043 billion and operating cash flow approximated $114.7 million, with free cash flow of $113.2 million producing a free cash flow yield of 3.06% — above the industry peer mean of 1.77% on that metric. Dividend coverage sits at 2.58 with a payout ratio of 38.77% and a current dividend yield near 0.99%.
Leverage remains conservative: debt-to-assets equals 3.89% and debt-to-equity near 37.82%, both lower than many regional comparators; asset-to-equity measures 9.73x and tangible equity remains sizable at $2.898 billion.
Valuation context: price-to-book at 1.12 sits slightly below the industry peer mean of 1.25 and the industry peer median of 1.2157, while price-to-earnings at 37.60 falls below the industry peer mean of 47.49 (and below the median of 46.10). Forward P/E of 34.78 also remains below the industry peer mean of 38.60. WMDST values the stock as under-valued, a stance supported by lower P/B and P/E measures versus the industry peer mean and by above-mean free cash flow yield.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-22 |
| NEXT REPORT DATE: | 2026-07-22 |
| CASH FLOW | Begin Period Cash Flow | $ 1.1 B |
| Operating Cash Flow | $ 114.7 M | |
| Capital Expenditures | $ -1.48 M | |
| Change In Working Capital | $ -4.41 M | |
| Dividends Paid | $ -36.74 M | |
| Cash Flow Delta | $ 1.3 M | |
| End Period Cash Flow | $ 1.1 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 331.9 M | |
| Forward Revenue | $ 92.8 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 6.8 M | |
| Depreciation and Amortization | $ 12.1 M | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | $ 390.1 M | |
| Interest Expense | $ 128.0 M | |
| Net Interest Income | $ 262.0 M | |
| Income Before Tax | $ 117.1 M | |
| Tax Provision | $ 22.4 M | |
| Tax Rate | 19.1 % | |
| Net Income | $ 94.8 M | |
| Net Income From Continuing Operations | $ 94.8 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.49 | |
| EPS Actual | $ 0.55 | |
| EPS Difference | $ 0.06 | |
| EPS Surprise | 12.245 % | |
| Forward EPS | $ 0.59 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 32.2 B | |
| Intangible Assets | $ 607.6 M | |
| Net Tangible Assets | $ 2.9 B | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | $ 1.0 B | |
| Net Receivables | $ 112.1 M | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | $ 17.7 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | — | |
| Net Debt | $ 208.8 M | |
| Total Debt | $ 1.3 B | |
| Total Liabilities | $ 28.7 B | |
| EQUITY | ||
| Total Equity | $ 3.3 B | |
| Retained Earnings | $ 2.1 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 18.52 | |
| Shares Outstanding | 178.843 M | |
| Revenue Per-Share | $ 1.86 | |
| VALUATION | Market Capitalization | $ 3.7 B |
| Enterprise Value | $ 5.0 B | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 14.919 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 9.732 | |
| Asset To Liability | 1.122 | |
| Debt To Capital | 0.274 | |
| Debt To Assets | 0.039 | |
| Debt To Assets QoQ | 101.713 % | |
| Debt To Assets YoY | -24.666 % | |
| Debt To Assets IPRWA | high: 0.145 median: 0.065 mean: 0.057 FULT: 0.039 low: -0.0 |
|
| Debt To Equity | 0.378 | |
| Debt To Equity QoQ | 101.594 % | |
| Debt To Equity YoY | -29.686 % | |
| Debt To Equity IPRWA | high: 1.682 median: 0.597 mean: 0.546 FULT: 0.378 low: -0.315 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.117 | |
| Price To Book QoQ | 7.014 % | |
| Price To Book YoY | 4.22 % | |
| Price To Book IPRWA | high: 1.989 mean: 1.25 median: 1.216 FULT: 1.117 low: 0.287 |
|
| Price To Earnings (P/E) | 37.599 | |
| Price To Earnings QoQ | 8.127 % | |
| Price To Earnings YoY | 7.911 % | |
| Price To Earnings IPRWA | high: 85.229 mean: 47.49 median: 46.1 FULT: 37.599 low: 28.296 |
|
| PE/G Ratio | — | |
| Price To Sales (P/S) | 11.144 | |
| Price To Sales QoQ | 9.012 % | |
| Price To Sales YoY | 7.476 % | |
| Price To Sales IPRWA | high: 26.967 mean: 14.338 median: 13.162 FULT: 11.144 low: 0.11 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 34.781 | |
| Forward PE/G | — | |
| Forward P/S | 39.948 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.01 | |
| Asset Turnover Ratio QoQ | -1.81 % | |
| Asset Turnover Ratio YoY | 3.931 % | |
| Asset Turnover Ratio IPRWA | high: 0.016 FULT: 0.01 mean: 0.01 median: 0.01 low: 0.005 |
|
| Receivables Turnover | 2.94 | |
| Receivables Turnover Ratio QoQ | -0.552 % | |
| Receivables Turnover Ratio YoY | 7.683 % | |
| Receivables Turnover Ratio IPRWA | high: 4.518 FULT: 2.94 mean: 2.602 median: 2.475 low: 0.805 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 31.041 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | -0.004 | |
| CapEx To Depreciation | -0.218 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 4.8 B | |
| Net Invested Capital | $ 4.6 B | |
| Invested Capital | $ 4.6 B | |
| Net Tangible Assets | $ 2.9 B | |
| Net Working Capital | — | |
| LIQUIDITY | ||
| Cash Ratio | — | |
| Current Ratio | — | |
| Current Ratio QoQ | — | |
| Current Ratio YoY | — | |
| Current Ratio IPRWA | — | |
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 10.831 % | |
| Interest Coverage Ratio | — | |
| Interest Coverage Ratio QoQ | — | |
| Interest Coverage Ratio YoY | — | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | — | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 2.579 | |
| Dividend Payout Ratio | 0.388 | |
| Dividend Rate | $ 0.21 | |
| Dividend Yield | 0.01 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.371 % | |
| Revenue Growth | 0.642 % | |
| Revenue Growth QoQ | -80.385 % | |
| Revenue Growth YoY | -139.29 % | |
| Revenue Growth IPRWA | high: 29.228 % mean: 5.207 % median: 1.114 % FULT: 0.642 % low: -23.976 % |
|
| Earnings Growth | 0.0 % | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | -100.0 % | |
| Earnings Growth IPRWA | high: 41.86 % FULT: 0.0 % mean: -2.33 % median: -3.008 % low: -43.519 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 113.2 M | |
| Free Cash Flow Yield | 3.061 % | |
| Free Cash Flow Yield QoQ | 16.966 % | |
| Free Cash Flow Yield YoY | -1268.321 % | |
| Free Cash Flow Yield IPRWA | high: 9.54 % FULT: 3.061 % mean: 1.77 % median: 1.61 % low: -3.189 % |
|
| Free Cash Growth | 25.73 % | |
| Free Cash Growth QoQ | -217.456 % | |
| Free Cash Growth YoY | -123.395 % | |
| Free Cash Growth IPRWA | high: 299.762 % FULT: 25.73 % median: -50.617 % mean: -59.685 % low: -368.012 % |
|
| Free Cash To Net Income | 1.195 | |
| Cash Flow Margin | 32.881 % | |
| Cash Flow To Earnings | 1.152 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.05 | |
| Return On Assets (ROA) | 0.294 % | |
| Return On Assets QoQ | -4.854 % | |
| Return On Assets YoY | 1.379 % | |
| Return On Assets IPRWA | high: 0.612 % FULT: 0.294 % median: 0.255 % mean: 0.253 % low: 0.065 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.029 | |
| Return On Equity QoQ | -4.665 % | |
| Return On Equity YoY | -5.202 % | |
| Return On Equity IPRWA | high: 0.043 FULT: 0.029 median: 0.023 mean: 0.022 low: 0.001 |
|
| DuPont ROE | 2.866 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |