Fulton Financial Q3 net income rises sequentially on lower acquisition expenses

Fulton Financial

21/10/2026 21:42

Overview
U.S. regional bank's Q3 net income rose from prior quarter
Net interest income for Q3 increased compared to previous quarter
Company repurchased $56.1 mln of shares in Q3

Outlook
Company did not provide specific financial guidance for future quarters or full year

Result Drivers
HIGHER INTEREST INCOME - Co attributed net interest income growth to increased interest income from loans and securities, and lower interest expense on borrowings
LOWER ACQUISITION EXPENSES - Co said decrease in acquisition-related expenses reduced non-interest expense
DEPOSIT GROWTH - Co said deposit growth was driven by commercial deposits and seasonal municipal trends

Company press release: ID:nPn7tN32Xa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Net Income
 
$114.10 mln
 
Q3 Net Interest Income
 
$290.04 mln
 
Q3 CET1 Capital Ratio
 
12.20%
 
Q3 Credit Loss Provision
 
$4.06 mln
 
Q3 Net Interest Margin (%)
 
3.58%
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for Fulton Financial Corporation is $26.00, about 14.9% above its October 20 closing price of $22.63
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)