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

Fulton Financial Co. (NASDAQ:FULT) saw 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.

Analysts Set New Price Targets

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

Insider Transactions at Fulton Financial

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of the company’s stock in a transaction on 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 owns 155,946 shares of the company’s stock, valued at approximately $3,299,817.36. This represents a 13.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.07% of the company’s stock.

Institutional Trading of Fulton Financial

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC lifted its stake in Fulton Financial by 511.1% in the second quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock valued at $55,287,000 after buying an additional 2,723,170 shares in the last quarter. Emerald Advisers LLC lifted its position in Fulton Financial by 213.6% in the 3rd quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank’s stock valued at $23,706,000 after acquiring an additional 890,630 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Fulton Financial by 272.2% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank’s stock worth $15,622,000 after purchasing an additional 630,152 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Fulton Financial by 710.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank’s stock worth $11,880,000 after purchasing an additional 613,272 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Fulton Financial by 28.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank’s stock worth $43,164,000 after purchasing an additional 567,771 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Stock Performance

Shares of FULT stock opened at $20.50 on Wednesday. The stock has a market cap of $3.73 billion, a PE ratio of 12.97 and a beta of 0.78. 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.

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

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.