Fulton Financial Corporation (FULT)
Financial Services · NMS · US
Fundamentals
Valuation and ratings
Fulton Financial Corporation trades at USD25.19, which is 23% below the USD31.06 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 42 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 11.5 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Fulton Financial Corporation
Fulton Financial Corporation operates as the bank holding company for Fulton Bank that provides banking and financial products and services in the United States. It provides various checking accounts and savings deposit products, and certificates of deposit. The company also offers consumer loans products, including home equity loans and lines of credit; construction and jumbo residential mortgage loans; automobile, student, and personal loans; account overdraft protection; commercial lending products comprising commercial real estate, commercial and industrial, and construction loans, as well as equipment lease financing loans. In addition, it offers letters of credit, cash management services, and traditional deposit products; and wealth management services, including investment management, trust, brokerage, insurance, and investment advisory services. Further, the company owns trust preferred securities; and sells various life insurance products. It provides its products and services through financial center locations, as well as through a network of automated teller machines, telephone banking, mobile banking, and online banking. The company was founded in 1882 and is headquartered in Lancaster, Pennsylvania.
FULT passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
9 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Ken Fisher, Fisher Asset Management, LLC$60.59M · 0.0% of book
- Ken Griffin, CITADEL ADVISORS LLC$21.09M · 0.0% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$15.03M · 0.0% of book
- Two Sigma, TWO SIGMA INVESTMENTS, LP$13.06M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$8.04M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Fulton Financial Corporation (FULT) undervalued?
Against our discounted cash flow estimate of USD31.06, FULT at USD25.19 is 23% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own FULT?
9 of the institutions we track reported a position in FULT in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is FULT's P/E ratio?
FULT trades at 11.5 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for FULT, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.