Short Interest in Fulton Financial Corp (FULT) Expands By 26.2%

Fulton Financial Corp (NASDAQ:FULT) was the target of a large increase in short interest in the month of December. As of December 29th, there was short interest totalling 3,450,411 shares, an increase of 26.2% from the December 15th total of 2,734,145 shares. Currently, 2.0% of the shares of the company are short sold. Based on an average trading volume of 742,206 shares, the short-interest ratio is currently 4.6 days.

Shares of Fulton Financial (NASDAQ FULT) opened at $18.60 on Wednesday. Fulton Financial has a 12 month low of $16.45 and a 12 month high of $19.90. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3,250.00, a price-to-earnings ratio of 18.24 and a beta of 1.17.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, October 17th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Fulton Financial had a return on equity of 8.28% and a net margin of 21.15%. The business had revenue of $194.19 million for the quarter, compared to analysts’ expectations of $200.00 million. During the same quarter in the prior year, the business earned $0.24 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. equities analysts expect that Fulton Financial will post 1.06 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Friday, December 29th. Fulton Financial’s payout ratio is 43.14%.

Hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Fulton Financial by 7.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,721 shares of the bank’s stock worth $147,000 after buying an additional 519 shares during the period. Advisor Group Inc. increased its position in Fulton Financial by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 8,336 shares of the bank’s stock worth $158,000 after buying an additional 417 shares during the period. Riverhead Capital Management LLC increased its position in Fulton Financial by 56.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 9,985 shares of the bank’s stock worth $190,000 after buying an additional 3,585 shares during the period. FDx Advisors Inc. bought a new position in Fulton Financial during the 3rd quarter worth $192,000. Finally, C M Bidwell & Associates Ltd. increased its position in Fulton Financial by 121.1% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 10,755 shares of the bank’s stock worth $204,000 after buying an additional 5,890 shares during the period. Hedge funds and other institutional investors own 62.73% of the company’s stock.

FULT has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, September 20th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $18.00 price target on shares of Fulton Financial in a research note on Tuesday, September 26th. Piper Jaffray Companies restated a “hold” rating and issued a $18.00 price target on shares of Fulton Financial in a research note on Thursday, October 19th. BidaskClub cut Fulton Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 9th. Finally, Barclays increased their price target on Fulton Financial from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $18.80.

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Fulton Financial Company Profile

Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).

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