Fulton Financial Corp (NASDAQ:FULT) Short Interest Update

Fulton Financial Corp (NASDAQ:FULT) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 6,910,000 shares, a decrease of 6.4% from the January 15th total of 7,380,000 shares. Approximately 4.3% of the shares of the stock are short sold. Based on an average trading volume of 893,900 shares, the short-interest ratio is presently 7.7 days.

Shares of FULT stock traded down $0.11 during trading hours on Friday, hitting $16.82. 526,645 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $17.14 and its 200-day moving average is $16.76. Fulton Financial has a 52 week low of $14.85 and a 52 week high of $18.00.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, January 21st. The bank reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The firm had revenue of $217.76 million during the quarter, compared to the consensus estimate of $216.83 million. During the same quarter in the previous year, the firm earned $0.33 EPS. As a group, analysts forecast that Fulton Financial will post 1.36 earnings per share for the current fiscal year.

FULT has been the topic of several research analyst reports. BidaskClub cut Fulton Financial from a “sell” rating to a “strong sell” rating in a report on Friday, January 24th. ValuEngine upgraded Fulton Financial from a “sell” rating to a “hold” rating in a report on Monday, November 25th. Finally, Zacks Investment Research upgraded Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $19.00.

In other Fulton Financial news, EVP Daniel R. Stolzer sold 6,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $17.59, for a total value of $105,540.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Smith Graham & Co. Investment Advisors LP lifted its stake in shares of Fulton Financial by 0.3% during the third quarter. Smith Graham & Co. Investment Advisors LP now owns 335,510 shares of the bank’s stock valued at $5,429,000 after acquiring an additional 1,080 shares during the period. Natixis Advisors L.P. lifted its stake in shares of Fulton Financial by 9.5% during the fourth quarter. Natixis Advisors L.P. now owns 13,601 shares of the bank’s stock valued at $237,000 after acquiring an additional 1,185 shares during the period. BBVA USA Bancshares Inc. lifted its stake in shares of Fulton Financial by 5.1% during the third quarter. BBVA USA Bancshares Inc. now owns 27,100 shares of the bank’s stock valued at $438,000 after acquiring an additional 1,315 shares during the period. RKL Wealth Management LLC lifted its stake in shares of Fulton Financial by 2.8% during the third quarter. RKL Wealth Management LLC now owns 62,562 shares of the bank’s stock valued at $1,013,000 after acquiring an additional 1,703 shares during the period. Finally, Amalgamated Bank lifted its stake in shares of Fulton Financial by 6.7% during the fourth quarter. Amalgamated Bank now owns 27,252 shares of the bank’s stock valued at $475,000 after acquiring an additional 1,711 shares during the period. Institutional investors own 63.93% of the company’s stock.

Fulton Financial Company Profile

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.

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