What is the revenue and EPS growth rate for Fulton Financial Pref A ADR year over year?

What does Fulton Financial Pref A ADR do and what are its main business segments?

What is Fulton Financial Pref A ADR's gross profit margin?

What were the key takeaways from Fulton Financial Pref A ADR's earnings call?

What guidance did Fulton Financial Pref A ADR's management provide for the next earnings period?

Did Fulton Financial Pref A ADR beat or miss consensus estimates last quarter?

What were the key takeaways from Fulton Financial Pref A ADR’s earnings call?

What factors drove the changes in Fulton Financial Pref A ADR's revenue and profit?

- **Record Q3 Performance**: $101.3M net income, 56.5% efficiency ratio, 15.79% ROTCE. 
- **Revenue Growth**: All-time high revenue, 21% noninterest income, $17B wealth AUM. 
- **Margin Expansion**: NIM +10bps to 3.57%, driven by $5.4B repricing assets. 
- **Capital Returns**: $1.65M shares repurchased, $86M buyback remaining. 
- **Credit Strength**: NPA ratio 0.63%, ACL coverage 189%. 
- **Guidance Update**: NII raised to $1.025-1.035B, fee income tightened to $270-280M. 
- **Rate Impact**: 25bps cuts in Q4 will pressure NIM, but 33% deposit beta to offset. 
- **Growth Targets**: 4-6% loan growth, 16-17% securities as assets. 


**【CEO Summary Section】**
- **Strong Q3 Results**: Operating earnings of $101.3 million ($0.55 per share), driven by 56.5% efficiency ratio and 15.79% ROTCE. 
- **Revenue Growth**: Total revenue hit all-time high, with noninterest income at 21% of total revenue. Wealth management AUM reached $17 billion.
- **Capital Deployment**: Repurchased 1.65 million shares ($18.67 avg price), with $86M remaining under buyback authorization. Tangible book value grew 18% annualized.
- **Balance Sheet Management**: Loan growth headwinds ($600M YTD) expected to moderate, targeting long-term 4-6% organic growth. Loan-to-deposit ratio at 91%.
- **Credit Quality**: NPA ratio improved to 0.63%, charge-offs at 18bps, ACL coverage at 189%.

**【CFO Financial Commentary】**
- **Net Interest Income**: $264.2M (non-FTE basis), +$9.3M QoQ. NIM expanded 10bps to 3.57%, driven by fixed rate repricing ($5.4B assets repricing at 5.08% yield). 
- **Fee Income**: $70.4M, up 12% QoQ, with wealth management and consumer banking leading. 
- **Expense Control**: Operating expenses $191.4M (+$3.8M QoQ), disciplined deposit beta (33% cumulative). 
- **Updated Guidance**: 
  - NII: $1.025-1.035B (up from $1.01-1.03B) 
  - Fee Income: $270-280M (tightened from $260-280M) 
  - Operating Expenses: $750-760M (lowered top end from $760-770M) 
  - Tax Rate: 19-20% (up from 18-19%) 
- **Liquidity**: Securities at 15.8% of assets, targeting 16-17% long-term. 

**【Q&A Highlights】**
- **NIM Outlook**: 25bps rate cuts in Q4 will pressure NIM, but 33% deposit beta will offset over time. 
- **Loan Growth Pipeline**: 4-6% long-term target, currently at low end due to cautious customer spending. 
- **Capital Allocation**: Buybacks ($86M remaining) and M&A ($1-5B community banks) priorities. 
- **NDFI Exposure**: Minimal, primarily Tier 2 subordinated debt to community banks. 
- **Deposit Strategy**: Managing $450M seasonal municipal outflows through cost-effective alternatives. 


Fulton Financial Corporation (FULT) Q3 2025 Earnings Call Transcript

- **Record Q2 Earnings**: $100.6 million operating net income, up $0.03 linked-quarter, with 57.1% efficiency ratio.
- **Revenue Growth Drivers**: 4 bps NIM expansion to 3.47% and 7% fee income growth (excluding one-time items).
- **Balance Sheet Management**: $117 million securities added; loan-to-deposit ratio stable at 92%.
- **Updated Guidance**: Net Interest Income $1.005-1.025 billion, Fee Income $265-280 million, Operating Expenses $750-765 million.
- **Share Repurchases**: 522,000 shares repurchased, driving 9.5% annualized tangible book value growth.
- **Credit Resilience**: Allowance-to-loans ratio 1.57%, with 177% coverage of nonperforming loans.


**【CEO Summary Section】**
- **Record Operating Earnings**: $100.6 million ($0.55 per share), a $0.03 linked-quarter increase, driven by net interest income growth and fee income expansion.
- **Revenue Growth**: Total revenue increased, with net interest margin up 4 basis points to 3.47% and noninterest income hitting $69.1 million (21% of total revenue).
- **Loan and Deposit Trends**: Loans grew $150 million (2.5%), while deposits declined $191 million due to seasonal municipal outflows. Loan-to-deposit ratio remained stable at 92%.
- **Credit Performance**: Charge-offs and provision expense decreased linked-quarter, with nonaccrual loans up slightly but coverage ratio at 177%.
- **Share Repurchases**: 522,000 shares repurchased, contributing to 9.5% annualized tangible book value growth.

**【CFO Financial Commentary】**
- **Net Interest Income**: $254.9 million (+$3.7 million linked-quarter), benefiting from fixed-rate asset repricing but offset by Republic portfolio accretion decline.
- **Noninterest Income**: $69.1 million, with Wealth Management and Commercial Banking fees at all-time highs. Fee income up 7% linked-quarter (excluding one-time items).
- **Expense Management**: Operating expenses at $187.6 million (+$4.8 million linked-quarter), guided to $190-195 million for Q3/Q4. Efficiency ratio improved to 57.1%.
- **Capital Position**: CET1 ratio at 11.3%, with $55 million internal capital generation. $117 million securities added to maintain liquidity.
- **Updated Guidance**: 
  - Net Interest Income: $1.005-1.025 billion
  - Provision Expense: $50-70 million
  - Fee Income: $265-280 million
  - Operating Expenses: $750-765 million
  - Tax Rate: 18.5%-19.5%

**【Q&A Key Highlights】**
- **Expense Guidance**: Q2 below $190-195 million range; expect to stay near midpoint for Q3/Q4, with flexibility for new initiatives.
- **Fee Income Outlook**: Consistent performance across categories; targeting top end of $265-280 million range if trends continue.
- **Loan Pipeline**: Up linked-quarter, but cautious pull-through rates due to economic uncertainty. Focus on C&amp;I growth.
- **M&amp;A Strategy**: Community banks $1-5 billion; disciplined on metrics and strategic fit.
- **Deposit Management**: Cost beta 28%; aiming to fund loan growth with customer deposits, despite competitive pressures.
- **NII Outlook**: Steady growth assuming no Fed moves; spreads under competitive pressure but still healthy.
- **Accretable Yield**: $11-12 million quarterly, depending on prepayments.
- **Stock Buybacks**: $115 million remaining; opportunistic based on capital needs.
- **Consumer Pipelines**: Seasonal strength in Q2; expect base-level growth with some quarterly variability.
- **FultonFirst Initiative**: $8.5 million net savings in Q2, tracking ahead of $25 million annual target.
- **Credit Trends**: Resilient portfolio with cautious outlook; one-off construction NPL migration resolved.


Fulton Financial Corporation (FULT) Q2 2025 Earnings Call Transcript

- **Operating Performance Strong**: Q1 EPS up 8%, efficiency ratio 56.7%, with loan growth constrained by strategic runoff ($38M auto, $231M Construction).
- **NIM Resilient**: 3.43% despite rate cuts, deposit beta 25% limiting cost pressure.
- **Credit Quality Stable**: ACL coverage 159%, NPLs improving, but cautious outlook due to macro uncertainty.
- **2025 Guidance**: NII $1.01-1.05B, expenses $720-735M, with 4x 25bps rate cuts expected.
- **Share Buyback Potential**: 30K shares bought in Q1, but no timeline for resuming program.


**【CEO Opening Remarks】**
- Q1 2025 operating EPS of $0.52, up $0.04 QoQ, driven by cost reduction and positive operating leverage.
- Operating efficiency ratio improved to 56.7%, with ROA at 1.25% and ROTCE at 15.95%.
- Loan growth constrained by strategic actions: $38M decline in indirect auto loans, $231M drop in commercial construction loans, and accelerated resolution of troubled assets.
- Deposit growth of $200M (3%) in interest-bearing money market accounts, with non-interest-bearing deposits at 20.6% of total.
- Credit quality metrics improved, with NPL ratio declining and net charge-offs down 1 bps QoQ.

**【CFO Financial Review】**
- Net interest income (NII) of $251M (-$2.5M QoQ), with NIM of 3.43% (+2 bps QoQ).
- Loan yields declined 11 bps to 5.86%, partially offset by 11 bps deposit cost reduction to 2.03%.
- Non-interest income of $67.2M, with fee income at 21% of revenue.
- Operating expenses down $7.8M QoQ to $182.9M, excluding $4.4M in professional fees.
- 2025 guidance: NII $1.01-1.05B, fee income $270-280M, operating expenses $720-735M.
- Expecting 4x 25bps Fed rate cuts in 2025, with NII headwind of ~$1.7M annualized per 25bps cut.

**【Q&A Highlights】**
1. **Loan Growth Outlook**: 
   - Q1 originations flat QoQ, but strategic headwinds (auto/Construction runoff) caused $182M decline.
   - 2025 loan growth expected in low-single digits, with pipeline up YoY but cautious pull-through.
   - Auto dealer book reduced due to credit standards tightening.

2. **Credit Risk**: 
   - Ag portfolio ($1B) most exposed to tariffs/commodity price volatility, but well-diversified.
   - Manufacturing sector monitoring input cost impacts, but limited import/export exposure.
   - ACL coverage at 159% of loans, 193% of NPLs, with CECL modeling incorporating downside scenarios.

3. **Share Repurchases**: 
   - Purchased 30K shares in Q1 at ~$30 price, but prioritizing organic growth and initiatives.
   - Buyback potential if no growth opportunities, but no timeline announced.

4. **Balance Sheet Strategy**: 
   - Adding ~$40-50M/month in investment securities with 5.56% yield, 3-year duration.
   - Loan-to-deposit ratio at 91%, targeting stable asset growth.

5. **Expense Management**: 
   - Q1 operating expenses down $7.8M, but expect $190-195M/Q in 2025 with merit increases.
   - FultonFirst initiative to add $14M non-operating costs for 2025.


Fulton Financial (FULT)-16 Apr 25-2025 Q1 Earnings call transcript

- **Record 2024 performance**: $1.2 billion revenue, 12.6% loan growth, and 21.3% deposit expansion driven by Republic integration.
- **Cost savings acceleration**: $5 million quarterly FultonFirst savings, targeting $25 million annualized by 2025.
- **2025 guidance confidence**: Flat to slightly rising net interest income, with $265-280 million noninterest income growth.
- **Strategic flexibility**: Open to M&A while maintaining strong capital position (tangible capital ratio above 10%).

**【CEO Opening Remarks】**
- **Record financial performance**: 2024 total revenue reached $1.2 billion, operating EPS of $1.85, and 750,000+ customers.
- **Republic transaction success**: Fully integrated Republic Bank, achieving $4.6 billion deposit growth (21.3% YoY) and $2.7 billion loan growth (12.6% YoY).
- **FultonFirst initiative progress**: Achieved $5 million quarterly cost savings, targeting $25 million annualized by 2025.
- **Balance sheet strength**: Loan-to-deposit ratio at 92%, below long-term target range of 95%-105%.

**【CFO Financial Highlights】**
- **Q4 2024 results**: Operating EPS of $0.48, net interest income of $254 million, and noninterest income of $68.6 million (13.4% YoY growth).
- **Cost management**: Operating expenses down 3% QoQ, with $10 million FultonFirst implementation costs and $9.6 million acquisition-related expenses.
- **2025 guidance**: Net interest income $995-1.02 billion, provision for credit losses $60-80 million, noninterest income $265-280 million, and operating expenses $755-775 million.

**【Key Q&A Insights】**
- **Loan growth outlook**: 2025 target of low to mid-single-digit growth, offsetting $40 million annual indirect auto runoff.
- **Deposit retention**: Republic Bank deposits stable, with 85% of CDs repricing at lower rates in 2025.
- **M&A strategy**: Open to $1-5 billion community bank acquisitions, prioritizing cultural fit and strategic alignment.
- **FultonFirst impact**: $25 million annualized cost savings by 2026, with no direct revenue contributions but enhanced operational efficiency.


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