Short Interest in Fulton Financial Corp Declines By 36.4% (FULT)
Shares of Fulton Financial Corp (NASDAQ:FULT) were the target of a significant decrease in short interest in May. As of May 30th, there was short interest totalling 1,941,379 shares, a decrease of 36.4% from the May 15th total of 3,050,606 shares, AR Network reports. Based on an average trading volume of 1,248,573 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.0% of the shares of the stock are short sold.
FULT has been the subject of a number of recent research reports. Analysts at Credit Suisse downgraded shares of Fulton Financial Corp from an “outperform” rating to a “market perform” rating in a research note on Monday, May 19th. They now have a $14.00 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods upgraded shares of Fulton Financial Corp from a “market perform” rating to an “outperform” rating in a research note on Friday, May 16th. They now have a $14.00 price target on the stock. Finally, analysts at Drexel Hamilton initiated coverage on shares of Fulton Financial Corp in a research note on Thursday, May 8th. They set a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $13.44.
Shares of Fulton Financial Corp (NASDAQ:FULT) opened at 12.47 on Wednesday. Fulton Financial Corp has a 52-week low of $10.94 and a 52-week high of $13.40. The stock’s 50-day moving average is $12.06 and its 200-day moving average is $12.50. The company has a market cap of $2.356 billion and a price-to-earnings ratio of 14.41.
Fulton Financial Corp (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $129.60 million for the quarter, compared to the consensus estimate of $134.37 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. On average, analysts predict that Fulton Financial Corp will post $0.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.57%.
Fulton Financial Corporation is a multi-bank financial holding company. The Company provides a range of banking and financial services to businesses and consumers through its six wholly owned banking subsidiaries: Fulton Bank, N.
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