At a glance
Fulton Financial Corporation is worth $4.46B, about 11 times its fiscal 2025 earnings. Revenue grew 6.2% to $1.31B in fiscal 2025, with 29.8% kept as profit; over 5 years it has grown 8.9% a year. It pays a 3.25% dividend yield, and returned $834.0M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +34.6% over the past year with dividends reinvested and +12.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 37.4% in the 2020 crash (S&P 500: 33.7%) and 25.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 11 months and 4 months after the lows.
The business in plain English
Fulton Financial is the parent company of Fulton Bank, a community-focused bank based in Lancaster, Pennsylvania. It serves customers in five states: Pennsylvania, Delaware, Maryland, New Jersey and Virginia. As of December 31, 2025, it had 204 financial centers, plus ATMs and online and mobile banking, and about 3,400 employees.
Fulton makes most of its money from net interest income: the gap between the interest it earns on loans and investments and the interest it pays on deposits. In 2025 that came to $1.04 billion, about 79% of total revenue of $1.31 billion. The other $277 million came from fees and other noninterest income. Much of its lending goes to small and mid-sized businesses, generally with under $500 million in annual revenue, through commercial real estate, business and construction loans. For consumers, it offers checking and savings accounts, mortgages, home equity lines, and auto, student and personal loans. Its wealth management units, Fulton Financial Advisors and Fulton Private Bank, offer investment management, trust, brokerage and insurance.
Fulton has also grown through acquisitions. It bought Prudential Bancorp in 2022, completed the Republic First transaction in 2024 and agreed in November 2025 to merge with Blue Foundry, a deal it expected to close on or about April 1, 2026. Total assets were $34.6 billion as of June 30, 2026.
Price history
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FULT +34.6% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $363.6M, up 12.2% from a year earlier, and net income was $102.4M (+3.2%).
- For fiscal 2025, revenue was $1.31B (+6.2% year over year; +8.9% a year from FY2020 to FY2025) with a 29.8% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +8.9% good |
|---|---|
| Return on equity | 11.2% watch |
| Net income / revenue | 29.8% good |
| Deposits | $28.25B |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $858.6M | $178.0M | — |
| FY2021 | $937.5M | $275.5M | — |
| FY2022 | $1.01B | $287.0M | — |
| FY2023 | $1.08B | $284.3M | — |
| FY2024 | $1.24B | $288.7M | — |
| FY2025 | $1.31B | $391.6M | — |
Valuation snapshot
| Market value | $4.46B |
|---|---|
| P/E ratio | 11.2 |
| Dividend yield | 3.25% |
Rank among 1514 US companies
Market value at each year end
Fulton Financial’s market value went from $3.26B at the end of 2016 to $4.46B on Oct 28, 2026, up 37%; since the end of 2025 it is up 28%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $4.46B | +27.8% |
| 2025 | $3.49B | -0.5% |
| 2024 | $3.51B | +29.9% |
| 2023 | $2.70B | -4.1% |
| 2022 | $2.82B | +2.8% |
| 2021 | $2.74B | +32.9% |
| 2020 | $2.06B | -27.9% |
| 2019 | $2.86B | +4.9% |
| 2018 | $2.73B | -13.0% |
| 2017 | $3.13B | -3.8% |
| 2016 | $3.26B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| FULT price data to Oct 28, 2026 | +23.9% | +34.6% | +28.2% | +12.0% | +8.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +23.9% |
| 2025 | +4.3% |
| 2024 | +21.9% |
| 2023 | +2.6% |
| 2022 | +3.1% |
| 2021 | +39.0% |
| 2020 | -23.2% |
| 2019 | +16.5% |
| 2018 | -10.8% |
| 2017 | -2.3% |
| 2016 | +48.5% |
| 2015 | +8.4% |
| 2014 | -2.9% |
| 2013 | +39.8% |
| 2012 | +0.9% |
| 2011 | -3.1% |
| 2010 | +20.0% |
| 2009 | -7.7% |
| 2008 | -9.6% |
| 2007 | -29.8% |
| 2006 | +3.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 61.2% over that stretch · deepest drop along the way 62%, back to its old high 52.9 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 36.9% over that stretch · deepest drop along the way 37.4%, back to its old high 11.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 0.9% over that stretch · deepest drop along the way 25%, back to its old high 3.8 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 3 sales ($534K), 1 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 4, 2026 | Angela M Sargent SEVP & Chief Info Officer | sell | $312K |
| Jul 13, 2026 | E Philip Wenger Director | sell (plan) | $121K |
| Aug 5, 2026 | Lisa Crutchfield Director | sell | $102K |
Who owns it
Large shareholders (13G filings)
| Vanguard Portfolio Management | 6.64% | Mar 31, 2026 |
| Dimensional Fund Advisors LP | 6.2% | Jun 30, 2025 |
| T. Rowe Price Associates, Inc. | 6.1% | Jun 30, 2026 |
| Vanguard Capital Management | 5.28% | Mar 31, 2026 |
ETFs with the most weight in FULT
| QABA First Trust NASDAQ ABA Community Bank Index Fund | 1.65% |
| KBE SPDR S&P Bank ETF | 1.04% |
| SMDV ProShares Russell 2000 Dividend Growers ETF | 0.97% |
| PSCF Invesco S&P SmallCap Financials ETF | 0.91% |
| CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF | 0.79% |
| XSVM Invesco S&P SmallCap Value with Momentum ETF | 0.66% |
| SVAL iShares US Small Cap Value Factor ETF | 0.55% |
| XSMO Invesco S&P SmallCap Momentum ETF | 0.55% |
What could go wrong
- Blue Foundry merger may disappoint. Fulton agreed in November 2025 to absorb Blue Foundry. Integration could cost more or take longer than planned, key staff may leave, and expected cost savings may fall short.
- Heavy exposure to commercial property loans. Commercial mortgages, loans backed by business property, make up a significant part of Fulton's lending. They are often large and depend on rents and property values, so a slump could raise losses.
- Tied to five states' economies. Fulton lends mainly in Pennsylvania, Delaware, Maryland, New Jersey and Virginia. Unlike national banks, it cannot spread risk widely, so a regional downturn could hurt loan repayments and loan demand together.
- Rate changes could squeeze lending profits. Net interest income, the gap between interest earned on loans and paid on deposits, was about 79% of 2025 revenue. If loan rates fall faster than deposit rates, that gap narrows.
- Deposits could become costlier or leave. Fulton funds loans mainly with core deposits, the everyday checking and savings balances that cost little. If customers move cash to higher-paying options, Fulton may have to pay more or borrow, squeezing profits.
- Dividends depend on the bank subsidiary. Fulton Financial is a holding company: it owns Fulton Bank and relies on its subsidiaries for substantially all its revenue. The company warns it may reduce or stop dividends and buybacks.
Recent events
- Quarterly results released
- Quarterly results released
- Executive or board change
- Executive or board change; Shareholder vote results
- Other company announcement
- Investor presentation or announcement
- Quarterly results released
- Acquisition or sale of assets completed; Investor presentation or announcement
- Investor presentation or announcement; Other company announcement
- Quarterly results released
For income and retirement investors
Fulton pays a regular dividend. Dividends per share rose from $0.56 in 2020 to $0.73 in 2025, or 5.4% a year, but not in a straight line: they slipped from $0.66 in 2022 to $0.64 in 2023, so the streak of annual increases was two years through 2025. Dividends took about 36% of 2025 earnings, leaving a cushion if profits dip. The yield was 3.25% as of October 28, 2026. Fulton spent $217 million buying back its shares from 2021 through 2025, yet its share count rose 18.4% between October 2021 and July 2026, a stretch that included several acquisitions.
The share price has fallen sharply in past downturns: 62% in the 2008 financial crisis, taking about 53 months to recover; 37% in the 2020 COVID crash, recovered in about 11 months; and 25% in the 2022 bear market, recovered in under four months. A single bank stock carries more risk than a diversified fund holding many companies.
Questions investors ask
How does Fulton Financial make money?
Mostly by lending. Fulton Bank earns more interest on loans and investments than it pays on deposits, and that gap, called net interest income, was $1.04 billion, about 79% of 2025 revenue of $1.31 billion. The remaining $277 million was noninterest income, which includes fees from services such as wealth management. Its lending leans toward small and mid-sized businesses, including commercial real estate, business and construction loans, alongside mortgages and other consumer loans. Net income rose 35.6% to $391.6 million in 2025.
Does Fulton Financial raise its dividend every year?
No. Fulton's dividend per share rose in 2024 and 2025, reaching $0.73, but it slipped from $0.66 in 2022 to $0.64 in 2023, so the streak of increases was two years through 2025. From 2020 to 2025, regular dividends grew about 5.4% a year. In 2025, dividends used about 36% of earnings, and the yield was 3.25% as of October 28, 2026. Its annual report warns that dividends could be reduced or stopped.
Where does Fulton Bank have branches?
Fulton Bank operates in five states: Pennsylvania, Delaware, Maryland, New Jersey and Virginia. As of December 31, 2025, it had 204 financial centers, not counting stand-alone ATMs, and its main office is in Lancaster, Pennsylvania. Customers can also use telephone, mobile and online banking. The bank emphasizes relationship banking, but its annual report notes that, unlike national banks, it cannot spread the risk of a local economic slump across many regions.
What is the Fulton Financial and Blue Foundry merger?
It is the deal, agreed on November 24, 2025, for Blue Foundry to merge into Fulton Financial, which keeps its name and FULT ticker. Blue Foundry shareholders approved it on January 29, 2026, and regulators had signed off. Fulton expected the deal to close on or about April 1, 2026, and filed notice of a completed acquisition that day. Its annual report said Blue Foundry Bank would be folded into Fulton Bank in the third quarter of 2026. Fulton flagged integration costs and missed savings as risks.
How has Fulton Financial stock performed over the long term?
The share price has risen over time, but unevenly and with deep drops. As of October 28, 2026, it was up 34.6% over one year and had gained about 12% a year over five years, 8.7% a year over 10 years and 4.7% a year over 21 years of price history. In the 2008 financial crisis it fell 62% and took about 53 months to recover. It traded at about 11.2 times 2025 earnings, its price-to-earnings ratio.