Thursday, July 18, 2019

Can M&A Break Fulton Financial Out Of Its Rut?

Fulton Financial (FULT) is an okay bank, but I think investors need to focus on bank’s that have something more than an “okay” story, and particularly so in less exciting markets like the Mid-Atlantic. I wasn’t all that excited about the return prospects for these shares back in mid-January, and the shares have since lagged other Mid-Atlantic banks I like better like OceanFirst (OCFC) and Sandy Spring (SASR), not to mention performing on the lower edge of “average” for regional banks over the last six months.

These shares have been stuck between $14.50 and $18.50 for a while, and at almost $16.50 as of this writing, they’re squarely in the middle of that range. With growing pressure on spreads and not many obvious catalysts to spark faster loan growth, it’s tough to see what will break the shares out, unless management gets going on the long-awaited M&A plan. With the shares priced pretty much exactly where I think they should be, I don’t much to get excited about either positively or negatively.

Read more here:
Can M&A Break Fulton Financial Out Of Its Rut?

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