Short Interest in Fulton Financial Corp (NASDAQ:FULT) Increases By 5.6%

Fulton Financial Corp (NASDAQ:FULT) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 6,251,700 shares, a growth of 5.6% from the June 30th total of 5,919,100 shares. Based on an average trading volume of 928,300 shares, the short-interest ratio is currently 6.7 days. Approximately 3.7% of the shares of the company are sold short.

Shares of NASDAQ FULT traded up $0.37 during midday trading on Friday, hitting $15.92. The company had a trading volume of 603,100 shares, compared to its average volume of 982,060. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.43. Fulton Financial has a twelve month low of $14.38 and a twelve month high of $18.45. The business has a 50-day simple moving average of $16.42 and a two-hundred day simple moving average of $16.44. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 1.43 and a beta of 1.00.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, July 16th. The bank reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Fulton Financial had a net margin of 23.75% and a return on equity of 10.51%. The firm had revenue of $221.94 million during the quarter, compared to analysts’ expectations of $218.51 million. During the same quarter last year, the business earned $0.20 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts forecast that Fulton Financial will post 1.4 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. NumerixS Investment Technologies Inc acquired a new position in Fulton Financial during the second quarter worth about $25,000. Advisory Services Network LLC raised its position in Fulton Financial by 34.9% during the second quarter. Advisory Services Network LLC now owns 2,418 shares of the bank’s stock worth $40,000 after acquiring an additional 625 shares during the last quarter. Toronto Dominion Bank raised its position in Fulton Financial by 25.3% during the first quarter. Toronto Dominion Bank now owns 3,167 shares of the bank’s stock worth $49,000 after acquiring an additional 639 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Fulton Financial during the second quarter worth about $62,000. Finally, Hudock Capital Group LLC raised its position in Fulton Financial by 99.8% during the first quarter. Hudock Capital Group LLC now owns 4,855 shares of the bank’s stock worth $75,000 after acquiring an additional 2,425 shares during the last quarter. Hedge funds and other institutional investors own 64.66% of the company’s stock.

Several research firms have recently commented on FULT. Zacks Investment Research upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. BidaskClub upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Friday, June 28th. DA Davidson reiterated a “neutral” rating on shares of Fulton Financial in a research note on Thursday, April 18th. ValuEngine cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Fulton Financial in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $18.83.

About Fulton Financial

Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.

Read More: What is the Producer Price Index (PPI)?

Receive News & Ratings for Fulton Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fulton Financial and related companies with MarketBeat.com's FREE daily email newsletter.