Fulton Financial Corporation (NASDAQ:FULT) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totalling 3,674,718 shares, a drop of 35.5% from the July 14th total of 5,697,002 shares. Based on an average daily trading volume, of 916,687 shares, the days-to-cover ratio is currently 4.0 days. Currently, 2.1% of the shares of the stock are sold short.

In other news, insider Michael J. Deporter sold 1,500 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $18.00, for a total transaction of $27,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Craig A. Roda sold 19,309 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $18.42, for a total transaction of $355,671.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,348 shares of company stock worth $484,312. Corporate insiders own 0.68% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in FULT. Dimensional Fund Advisors LP increased its stake in Fulton Financial Corporation by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 14,443,398 shares of the bank’s stock worth $274,426,000 after buying an additional 112,692 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Fulton Financial Corporation by 3.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 29,031 shares of the bank’s stock worth $552,000 after buying an additional 1,000 shares during the last quarter. Citadel Advisors LLC increased its stake in Fulton Financial Corporation by 72.8% in the second quarter. Citadel Advisors LLC now owns 716,747 shares of the bank’s stock worth $13,618,000 after buying an additional 301,946 shares during the last quarter. Ramsey Quantitative Systems increased its stake in Fulton Financial Corporation by 22.6% in the second quarter. Ramsey Quantitative Systems now owns 16,861 shares of the bank’s stock worth $320,000 after buying an additional 3,113 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in Fulton Financial Corporation by 5.3% in the second 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 last quarter. 62.08% of the stock is currently owned by institutional investors.

Fulton Financial Corporation (NASDAQ FULT) opened at 17.25 on Friday. The company’s 50 day moving average is $18.48 and its 200 day moving average is $18.35. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 17.42 and a beta of 1.16. Fulton Financial Corporation has a 12-month low of $13.81 and a 12-month high of $19.90.

Fulton Financial Corporation (NASDAQ:FULT) last released its earnings results on Tuesday, July 18th. The bank reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Fulton Financial Corporation had a net margin of 20.86% and a return on equity of 8.02%. The firm had revenue of $193.93 million for the quarter, compared to the consensus estimate of $194.02 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. Analysts forecast that Fulton Financial Corporation will post $1.06 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 3rd were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Thursday, June 29th. Fulton Financial Corporation’s dividend payout ratio (DPR) is presently 44.44%.

Several analysts have recently weighed in on the stock. BidaskClub upgraded shares of Fulton Financial Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Stephens assumed coverage on shares of Fulton Financial Corporation in a research report on Thursday, July 13th. They set an “equal weight” rating on the stock. Boenning Scattergood restated a “hold” rating on shares of Fulton Financial Corporation in a research report on Wednesday, July 19th. Jefferies Group LLC restated a “hold” rating and set a $20.00 price objective on shares of Fulton Financial Corporation in a research report on Friday, July 14th. Finally, Zacks Investment Research upgraded shares of Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $18.33.

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Fulton Financial Corporation 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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