|Over a month ago|
Fulton Financial sees 2020 NIM 3.2%-3.25%, assuming 25bp rate cut in Q2 » 07:1401/2201/22/20
Sees FY20 net interest…
Sees FY20 net interest income up in the low single digits. Sees NIM of 3.2%-3.25% for FY20, assuming a stable yield curve and one 25 bp rate cut in Q2. Sees mid single-digit growth rate for noninterest income. Sees low single-digit growth rate for noninterest expense excluding charter consolidation costs in 2019. Sees $25M-$40M provision for credit losses for full year 2020. Says CECL impact to be a 20%-30% increase in allowance for credit losses. Sees FY20 effective tax rate 14%-16%. Comments taken from slides being presented on its Q4 earnings conference call.
Fly Intel: After Hours Movers » 18:4401/2101/21/20
NAVI, IBM, COF, FBK, NFLX, MNLO, CIT, SKT, ETN, SUPN, ZION, IBKR, AMTD, FULT, UAL, ADAP, BPMC, ELAN
UP AFTER EARNINGS:…
UP AFTER EARNINGS: Navient (NAVI) up 5.9%... IBM (IBM) up 3.8%... Capital One (COF) up 2.2%... FB Financial (FBK) up 2.0%... Netflix (NFLX) up 2.0%... ALSO HIGHER: Menlo Therapeutics (MNLO) up 7.4% after disclosing passive stake by Point72... CIT Group (CIT) up 5.8% after entering S&P MidCap 400 index... Tanger Factory (SKT) up 3.6% after entering S&P SmallCap 600 index... Eaton (ETN) up 2.0% after selling Hydraulics business for $3.3B... Supernus Pharma (SUPN) up 1.3% after FDA accepted SPN-812 NDA for review. DOWN AFTER EARNINGS: Zions Banc (ZION) down 1.7%... Interactive Brokers (IBKR) down 1.6%... TD Ameritrade (AMTD) down 1.5%... Fulton Financial (FULT) down 1.5%... United Airlines (UAL) down 0.2%... ALSO LOWER: Adaptimmune Therapeutics (ADAP) down 5.8% after equity offering... Blueprint Medicines (BPMC) down 5.3% after equity offering... Elanco (ELAN) down 2.3% after equity offering... Movers as of 18:30ET.
Fulton Financial reports Q4 EPS 33c, consensus 35c » 16:3001/2101/21/20
"Overall, 2019 was…
"Overall, 2019 was another good year for Fulton as we continued to execute on our growth strategies and completed the consolidation of our remaining affiliate banks into Fulton Bank," said E. Philip Wenger, Chairman and CEO. "I'm extremely proud of our team's hard work this year, and continued focus on driving shareholder value. We look forward to 2020 and believe we are well-positioned to continue to advance our strategic priorities."
|Over a quarter ago|
Fulton Financial declares special cash dividend of 4c per share » 16:3111/2511/25/19
The special dividend is…
The special dividend is payable on December 16 to shareholders of record as of December 4.
Fulton Bank acquires wealth business of APS Wealth Management » 16:0111/1211/12/19
Fulton Bank announced…
Fulton Bank announced that it has purchased the wealth management business formerly conducted by APS Wealth Management in Camp Hill, PA. The transaction was completed on October 4, 2019. The terms of the agreement have not been disclosed. APS Wealth Management, which was established by Mike Chwastyk in 1994, had approximately $67 million in assets under management or administration at the time the sale to Fulton was completed. Fulton Bank, N.A., has approximately $11 billion in assets under management or administration through its wealth management division, Fulton Financial Advisors.
Fulton Financial sees NIM down 3-5bps over FY19 vs. FY18 » 06:5510/2310/23/19
Fulton Financial said in…
Fulton Financial said in slides being presented on its Q3 earnings conference call that it sees average annual loan and deposit growth in the low to mid single digits for FY19. The company sees a low single digit growth rate for net interest income, vs. its previous outlook of mid single digits, and a decrease of 3-5bps for net interest margin over the full year 2019 vs. 2018. The company sees non-interest income up at a high single digit growth rate and non-interest expense up at a low single digit growth rate. It sees asset quality at $3M-$8M provision for credit losses per quarter and expects capital levels to remain consistent with December 31, 2018. Fulton sees effective tax rate between 14% and 16%.
Fulton Financial reports Q3 EPS 37c, consensus 35c » 16:3210/2210/22/19
"Overall, we were…
"Overall, we were pleased with our third quarter results. Our consumer and commercial businesses had strong loan growth during the quarter despite the competitive headwinds in the market. Other positives for the quarter included stable credit conditions, solid fee income growth and essentially flat operating expenses, linked quarter, excluding charter consolidation expenses, prepayment penalties on FHLB advances and FDIC insurance credits," said E. Philip Wenger, Chairman and CEO. "On the corporate front, we consolidated our last remaining affiliate banks into Fulton Bank in September. Also, in early October the Department of Justice informed us that the Department had completed its fair lending investigation of Fulton without taking any action against the company. These are two important milestones that should help facilitate growth moving forward."
Fly Intel: After Hours Movers » 18:5810/1510/15/19
SNBR, UAL, MCK, ABC, CAH, FULT, ETN, SFIX, MGM, JBHT, IBKR, RYTM, PRQR, NTRA, PRNB, X, ARCE, TW
UP AFTER EARNINGS: Sleep…
UP AFTER EARNINGS: Sleep Number (SNBR) up 6.6%... United Airlines (UAL) up 1.5%. ALSO HIGHER: McKesson (MCK) up 7.8%, AmerisourceBergen (ABC) up 7.5%, Cardinal Health (CAH) up 4.9% after WSJ speculation of potential $18B opioid litigation settlement... Fulton Financial (FULT) up 1.5% after announcing $100M buyback... Eaton (ETN) up 1.1% after selling its Lighting business for $1.4B... Stitch Fix (SFIX) up 1.1% after $3.1M insider buy... MGM Resorts (MGM) up 1.0% after selling Bellagio to Blackstone for $4.25B. DOWN AFTER EARNINGS: JB Hunt (JBHT) down 1.9%... Interactive Brokers (IBKR) down 1.4%. ALSO LOWER: Rhythm Pharmaceuticals (RYTM) down 11.4% after equity offering... ProQR Therapeutics (PRQR) down 10.0% after sepofarsen RPD designation from FDA... Natera (NTRA) down 5.9% after equity offering... Principia Biopharma (PRNB) down 3.0% after equity offering... U.S. Steel (X) down 1.9% after convertible note offering... Arco Platform (ARCE) down 1.3% after filing $1.B mixed shelf... Tradeweb Markets (TW) down 1.0% after Q3 guidance, equity offering. Movers as of 18:30ET.
Fulton Financial approves $100M shares repurchase program » 16:2410/1510/15/19
Fulton Financial announced that its Board of Directors has approved the repurchase of up to $100M of shares of Fulton's common stock, or approximately 3.9% of Fulton's outstanding shares, based on the closing price of Fulton's common stock and the number of shares outstanding on October 11. This approval expires on December 31, 2020. Fulton also announced that it repurchased approximately $48.0M of its outstanding shares during the Q3, which completed the repurchase of shares authorized under the $100M stock repurchase program announced in March.
Fulton Financial management to meet with Sandler ONeill » 04:5509/0309/03/19
Meetings to be held in…
Meetings to be held in Kansas City, MO on September 3 and in Minneapolis, MN on September 5 hosted by Sandler ONeill