Fulton Financial: Attractive Dividend And TBV Slightly At A Discount
Source: SeekingAlpha
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
Fulton Financial Corporation Depositary Shares Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock Series A
NASDAQ: FULTP
FULTP Trading
0.16% G/L:
$18.78 Last:
6,142 Volume:
$18.75 Open:
