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EC, WU and FULT made it to the Zacks Rank #1 (Strong Buy) income stocks list on May 1, 2023.
Fulton (FULT) acquires Republic First Bank from FDIC to enhance its footprint in the Philadelphia region. The company initiates a common stock offering to fund future strategic plans.
Fulton Financial (FULT) shares surged Monday after the bank said it acquired the debt and deposits of Philadelphia-based Republic First Bank following the first bank failure of 2024. Republic First Bank was seized by regulators Friday after a deal for $35 million in funding reportedly fell apart earlier this year.
Fulton Financial Corp shares staged an 8.5% rally on Monday after taking control of deposits and assets formerly belonging to regional bank Republic First. US regulators on Friday seized Republic First's $10 billion worth of deposits and assets and FDIC was appointed as its receiver following a prolonged liquidity crunch.
Fulton Financial Corp.'s stock rallied Monday on plans by the bank to acquire Republic First Bank from the Federal Deposit Insurance Corp. in the year's first bank liquidation.
Fulton Financial's shares jumped on Monday after it bought the deposits and assets of Republic First from the Federal Deposit Insurance Corporation, in what is the first U.S. bank failure of 2024.
Philadelphia-based lender Republic First Bancorp has been sold after being seized by regulators. Fulton Bank, another Pennsylvania financial institution, has agreed to acquire the lender — which does business as Republic Bank — and its assets, the Federal Deposit Insurance Corp. (FDIC) announced late Friday (April 26).
Fulton Financial will assume the assets and deposits of Republic First Bank, which was seized Friday by Pennsylvania regulators. Fulton stock jumped.
Although the revenue and EPS for Fulton Financial (FULT) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Fulton Financial (FULT) came out with quarterly earnings of $0.40 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.39 per share a year ago.