Fulton Financial Corporation (FULT) Short Interest Down 35.5% in July

Fulton Financial Corporation (NASDAQ:FULT) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 3,674,718 shares, a decline of 35.5% from the July 14th total of 5,697,002 shares. Based on an average daily volume of 916,687 shares, the days-to-cover ratio is currently 4.0 days. Currently, 2.1% of the company’s stock are sold short.

A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Tuesday, July 25th. Boenning Scattergood reiterated a “hold” rating on shares of Fulton Financial Corporation in a research note on Wednesday, July 19th. ValuEngine upgraded Fulton Financial Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Barclays PLC reiterated a “sell” rating and set a $18.00 price objective (up previously from $17.00) on shares of Fulton Financial Corporation in a research note on Friday, April 21st. Finally, Keefe, Bruyette & Woods set a $18.00 price objective on Fulton Financial Corporation and gave the company a “hold” rating in a research note on Monday, May 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $18.33.

Fulton Financial Corporation (NASDAQ FULT) opened at 17.35 on Thursday. Fulton Financial Corporation has a 1-year low of $13.83 and a 1-year high of $19.90. The stock has a market cap of $3.04 billion, a PE ratio of 17.53 and a beta of 1.16. The stock has a 50 day moving average price of $18.39 and a 200 day moving average price of $18.33.

Fulton Financial Corporation (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, July 18th. The bank reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Fulton Financial Corporation had a return on equity of 8.02% and a net margin of 20.86%. The firm had revenue of $193.93 million during the quarter, compared to analyst estimates of $194.02 million. During the same quarter in the prior year, the business posted $0.23 EPS. On average, analysts predict that Fulton Financial Corporation will post $1.06 EPS for the current fiscal year.

In related news, insider Michael J. Deporter sold 1,500 shares of Fulton Financial Corporation stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $18.00, for a total transaction of $27,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director R Scott Smith, Jr. sold 5,539 shares of Fulton Financial Corporation stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $18.35, for a total value of $101,640.65. The disclosure for this sale can be found here. Insiders have sold 26,348 shares of company stock worth $484,312 over the last 90 days. 0.68% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of FULT. State Treasurer State of Michigan raised its stake in shares of Fulton Financial Corporation by 1.3% in the first quarter. State Treasurer State of Michigan now owns 70,700 shares of the bank’s stock valued at $1,262,000 after buying an additional 900 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Fulton Financial Corporation by 5.3% in the first quarter. Great West Life Assurance Co. Can now owns 100,183 shares of the bank’s stock valued at $1,783,000 after buying an additional 5,057 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Fulton Financial Corporation by 49.9% in the first quarter. Wells Fargo & Company MN now owns 232,171 shares of the bank’s stock valued at $4,145,000 after buying an additional 77,266 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Fulton Financial Corporation by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 60,853 shares of the bank’s stock valued at $1,086,000 after buying an additional 800 shares in the last quarter. Finally, Security National Trust Co. raised its stake in shares of Fulton Financial Corporation by 40.1% in the first quarter. Security National Trust Co. now owns 89,946 shares of the bank’s stock valued at $1,604,000 after buying an additional 25,750 shares in the last quarter. Hedge funds and other institutional investors own 62.30% of the company’s stock.

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Fulton Financial Corporation Company Profile

Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).

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