Regional banking company Fulton Financial (NASDAQ: FULT) met Wall Streets revenue expectations in Q4 CY2025, with sales up 3% year on year to $336 million. Its non-GAAP profit of $0.55 per share was 7.8% above analysts’ consensus estimates.
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Fulton Financial (FULT) Q4 CY2025 Highlights:
- Net Interest Income: $266 million vs analyst estimates of $266.5 million (4.9% year-on-year growth, in line)
- Net Interest Margin: 3.6% vs analyst estimates of 3.5% (7.3 basis point beat)
- Revenue: $336 million vs analyst estimates of $335.7 million (3% year-on-year growth, in line)
- Efficiency Ratio: 60% vs analyst estimates of 58.9% (115 basis point miss)
- Adjusted EPS: $0.55 vs analyst estimates of $0.51 (7.8% beat)
- Market Capitalization: $3.55 billion
"The strength of our strategy and the dedication of our team combined to generate a 17% increase in our operating diluted earnings per share," said Curtis J. Myers, Fulton Chairman, CEO and President.
Company Overview
Tracing its roots back to 1882 in the heart of Pennsylvania, Fulton Financial (NASDAQ: FULT) is a financial holding company that provides banking, lending, and wealth management services to consumers and businesses across five Mid-Atlantic states.
Sales Growth
In general, banks make money from two primary sources. The first is net interest income, which is interest earned on loans, mortgages, and investments in securities minus interest paid out on deposits. The second source is non-interest income, which can come from bank account, credit card, wealth management, investing banking, and trading fees. Over the last five years, Fulton Financial grew its revenue at a mediocre 8.6% compounded annual growth rate. This fell short of our benchmark for the banking sector and is a tough starting point for our analysis.
We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. Fulton Financial’s annualized revenue growth of 9.7% over the last two years is above its five-year trend, but we were still disappointed by the results. 
Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, Fulton Financial grew its revenue by 3% year on year, and its $336 million of revenue was in line with Wall Street’s estimates.
Net interest income made up 76.4% of the company’s total revenue during the last five years, meaning lending operations are Fulton Financial’s largest source of revenue.
Markets consistently prioritize net interest income growth over fee-based revenue, recognizing its superior quality and recurring nature compared to the more unpredictable non-interest income streams.
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Key Takeaways from Fulton Financial’s Q4 Results
It was good to see Fulton Financial beat analysts’ EPS expectations this quarter. Zooming out, we think this was a decent quarter. The stock traded up 1.7% to $20.86 immediately after reporting.
So do we think Fulton Financial is an attractive buy at the current price? If you’re making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here (it’s free).
