FULTP - Fulton Financial: Attractive Dividend And TBV Slightly At A Discount

May, 06 2025 03:58 AM Fulton Financial Corporation Depositary Shares Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock Series A

2025-05-06 03:58:24 ET

Summary

FULT's share price has fallen by 21%, making it undervalued and justifying a buy rating due to its solid fundamentals and 4.15% dividend yield.
The bank's loan-to-deposit ratio of 91% limits flexibility, but management's focus on deposit growth and cost management is improving profitability.
FULT's net interest margin increased to 3.43%, aided by strategic adjustments to fixed rates and derivatives, positioning it well for potential Fed rate cuts.
Despite macroeconomic uncertainties, FULT's tangible book value per share is 14% below the 3-year average, offering potential capital gains, growing dividends, and buybacks.

In my last article on Fulton Financial ( FULT ), I maintained a cautious view due to declining non-interest-bearing deposits and a financial structure that was unsuited to a macroeconomic environment of falling interest rates. Since then, there have been improvements in this regard, and, more importantly, the share price has fallen by 21%....

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Fulton Financial: Attractive Dividend And TBV Slightly At A Discount

Company Name:	Fulton Financial Corporation Depositary Shares Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock Series A
Stock Symbol:	FULTP
Market:	NASDAQ
Website:	fultonbank.com

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Summary