Fulton Financial Co. (NASDAQ:FULT) Short Interest Update

Fulton Financial Co. (NASDAQ:FULT) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 5,750,000 shares, a decrease of 5.9% from the November 15th total of 6,110,000 shares. Based on an average daily trading volume, of 1,430,000 shares, the short-interest ratio is currently 4.0 days.

Fulton Financial Stock Performance

FULT traded down $0.44 during mid-day trading on Tuesday, reaching $20.68. 291,833 shares of the company traded hands, compared to its average volume of 1,431,286. The stock has a market capitalization of $3.76 billion, a P/E ratio of 13.37 and a beta of 0.78. Fulton Financial has a 52-week low of $13.87 and a 52-week high of $22.49. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average price is $19.82 and its 200-day moving average price is $18.46.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. The business had revenue of $487.33 million for the quarter, compared to analysts’ expectations of $321.00 million. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. During the same period last year, the firm posted $0.43 earnings per share. On average, sell-side analysts expect that Fulton Financial will post 1.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Piper Sandler set a $21.00 price target on Fulton Financial in a research note on Thursday, October 17th. StockNews.com downgraded Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods raised their price objective on shares of Fulton Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.50.

Insiders Place Their Bets

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $21.16, for a total value of $511,902.72. Following the sale, the chief executive officer now directly owns 155,946 shares in the company, valued at $3,299,817.36. The trade was a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.07% of the company’s stock.

Institutional Investors Weigh In On Fulton Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in shares of Fulton Financial in the third quarter worth approximately $33,000. Family Firm Inc. purchased a new stake in Fulton Financial in the 2nd quarter worth $46,000. Coston McIsaac & Partners bought a new stake in Fulton Financial during the third quarter valued at about $54,000. Blue Trust Inc. lifted its position in shares of Fulton Financial by 21.9% in the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after acquiring an additional 691 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Fulton Financial by 11.6% in the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock worth $118,000 after acquiring an additional 676 shares during the period. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.