Fulton Financial Co. (NASDAQ:FULT) Short Interest Down 11.5% in October

Fulton Financial Co. (NASDAQ:FULT - Get Free Report) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 4,840,000 shares, a decline of 11.5% from the October 15th total of 5,470,000 shares. Based on an average daily trading volume, of 1,410,000 shares, the days-to-cover ratio is currently 3.4 days.

Fulton Financial Price Performance

NASDAQ:FULT traded up $0.17 during trading hours on Friday, reaching $21.15. 1,264,216 shares of the company traded hands, compared to its average volume of 1,591,849. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.90. The firm's 50-day moving average is $18.39 and its 200-day moving average is $17.84. The stock has a market cap of $3.85 billion, a P/E ratio of 13.39 and a beta of 0.73. Fulton Financial has a 1-year low of $13.84 and a 1-year high of $21.65.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.06. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. The firm had revenue of $487.33 million during the quarter, compared to analysts' expectations of $321.00 million. During the same quarter last year, the business posted $0.43 EPS. Equities research analysts expect that Fulton Financial will post 1.74 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.22%. Fulton Financial's dividend payout ratio (DPR) is currently 43.04%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FULT shares. StockNews.com lowered shares of Fulton Financial from a "hold" rating to a "sell" rating in a research note on Monday, November 11th. Piper Sandler set a $21.00 price objective on Fulton Financial in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $18.83.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quarry LP purchased a new position in Fulton Financial during the third quarter worth about $33,000. Family Firm Inc. purchased a new position in shares of Fulton Financial in the 2nd quarter worth $46,000. Coston McIsaac & Partners purchased a new stake in Fulton Financial during the third quarter valued at about $54,000. Blue Trust Inc. raised its holdings in shares of Fulton Financial by 21.9% in the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank's stock worth $61,000 after purchasing an additional 691 shares during the period. Finally, AE Wealth Management LLC purchased a new position in Fulton Financial in the second quarter valued at approximately $172,000. Hedge funds and other institutional investors own 72.02% of the company's stock.

About Fulton Financial

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.