Fulton Financial Co. (NASDAQ:FULT) Short Interest Down 5.9% in November

Fulton Financial Co. (NASDAQ:FULT - Get Free Report) 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 volume of 1,430,000 shares, the short-interest ratio is currently 4.0 days.

Fulton Financial Price Performance

Shares of FULT traded down $0.62 during midday trading on Tuesday, hitting $20.50. 956,244 shares of the company traded hands, compared to its average volume of 1,434,049. The stock has a 50-day moving average of $19.89 and a 200-day moving average of $18.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. Fulton Financial has a one year low of $13.87 and a one year high of $22.49. The firm has a market cap of $3.73 billion, a P/E ratio of 12.97 and a beta of 0.78.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.06. The firm had revenue of $487.33 million during the quarter, compared to analyst estimates of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same period in the previous year, the business earned $0.43 EPS. As a group, sell-side analysts predict that Fulton Financial will post 1.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FULT. StockNews.com cut Fulton Financial from a "hold" rating to a "sell" rating in a report on Monday, November 11th. Piper Sandler set a $21.00 price target on Fulton Financial in a report on Thursday, October 17th. Stephens raised Fulton Financial from an "equal weight" rating to an "overweight" rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods boosted their target price on Fulton Financial from $20.00 to $23.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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 Fulton Financial stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $21.16, for a total transaction of $511,902.72. Following the transaction, the chief executive officer now directly owns 155,946 shares of the company's stock, valued at approximately $3,299,817.36. The trade was a 13.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.07% of the company's stock.

Institutional Trading of Fulton Financial

A number of large investors have recently modified their holdings of the business. Seven Eight Capital LP purchased a new stake in Fulton Financial in the second quarter valued at approximately $485,000. Segall Bryant & Hamill LLC purchased a new position in Fulton Financial in the third quarter worth $3,489,000. American Century Companies Inc. increased its stake in Fulton Financial by 18.6% in the second quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank's stock valued at $51,323,000 after acquiring an additional 474,099 shares during the last quarter. BNP Paribas Financial Markets raised its position in Fulton Financial by 145.7% during the third quarter. BNP Paribas Financial Markets now owns 89,378 shares of the bank's stock valued at $1,620,000 after purchasing an additional 52,997 shares in the last quarter. Finally, Legato Capital Management LLC bought a new stake in Fulton Financial during the second quarter worth about $1,003,000. Institutional investors own 72.02% of the company's stock.

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.