Fulton Financial (FULT) Tops Q4 EPS by 1c

Fulton Financial (NASDAQ: FULT) reported Q4 EPS of $0.30, $0.01 better than the analyst estimate of $0.29.

2020 Key Accomplishments

• Successful implementation of COVID-19 safety response protocols to protect customers and team members
• Rapid implementation of remote work program
• PPP/Main Street Lending programs in place to aid customers
• Residential mortgage business at historic highs
• Implementation of strategic operating expense reduction initiatives
• Successful access to the capital markets with subordinated debt and preferred stock offerings

“We were pleased with our company’s achievements for the 4th quarter and for the year as a whole, given the challenges presented by the lingering presence of COVID-19,” said E. Philip Wenger, Chairman and CEO of Fulton Financial Corporation. “The low interest rate environment continued to put pressure on our margin, but even in this challenging environment, we had stable asset quality, were able to provide Paycheck Protection Program and Main Street loans to our customers, helped our mortgage business grow to historic highs, and saw wealth management business performance that was beyond our expectations.”

For earnings history and earnings-related data on Fulton Financial (FULT) click here.

You May Also Be Interested In

• Citi agrees to acquire rewards platform Kard Financial
• Birchtech Corp. (BCHT) Misses Q2 EPS by 7c
• Boqii says no new developments behind unusual trading activity