Raymond James cheers Fulton's property sale to Blue Owl

Fulton Financial

16/05/2024 15:44

** Brokerage Raymond James says "happy" with Fulton
Financial's  FULT.O  deal to sell 40 financial centers to
alternative asset manager Blue Owl Capital  OWL.N 
    ** FULT said the deal, announced late on Wednesday, will
result in a $20.4 mln gain
    ** That would offset the $20.4 mln loss incurred from the
sale of FULT's $345 mln investment securities
    ** Shares inch up 0.7%; they have gained 6.1% YTD
    ** Last month, FULT bought Republic First Bank, which was
the first U.S. lender that failed this year

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com))