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Fulton Financial Corporation Depositary Shares Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock Series A
2024-06-21 11:44:05 ET
Summary
Dividend yield is 4.19% and sustainable over the short-medium term.
Challenges include stagnant loan portfolio growth, high cost of funds, and unrealized losses in AFS securities.
Strategies to address challenges include repricing CDs, buying new AFS securities, and focusing on TBV per share growth.
Fulton Financial ( FULT ) is a company founded back in 1882 and is headquartered in Lancaster, Pennsylvania. The last time I discussed it was two quarters ago, and the main issues were stabilization of the net interest margin and unrealized losses in AFS securities. Since then, management has not been able to avoid further deterioration in profitability, but there seems to be light at the end of the tunnel today....
Fulton Financial Corporation Depositary Shares Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock Series A