Fulton Financial Corp (FULT): Today's Featured Banking Loser
Fulton Financial (FULT) pushed the Banking industry lower today making it today's featured Banking loser. The industry as a whole closed the day up 1.3%. By the end of trading, Fulton Financial fell 5 cents (-0.5%) to $9.59 on heavy volume. Throughout the day, 1.9 million shares of Fulton Financial exchanged hands as compared to its average daily volume of 1.3 million shares. The stock ranged in price between $9.56-$9.69 after having opened the day at $9.64 as compared to the previous trading day's close of $9.64. Other company's within the Banking industry that declined today were: Oak Valley Bancorp (OVLY), down 7%, Fidelity Bancorp (FSBI), down 6.3%, Independent Bank Corp (Ionia MI (IBCP), down 5.3%, and MSB Financial Corporation (MSBF), down 5.3%. Fulton Financial Corporation operates as a multi-bank financial holding company that provides various banking and financial services to businesses and consumers. Fulton Financial has a market cap of $1.92 billion and is part of the financial sector. The company has a P/E ratio of 12.8, equal to the average banking industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 4.6% year to date as of the close of trading on Thursday. Currently there are five analysts that rate Fulton Financial a buy, one analyst rates it a sell, and seven rate it a hold. TheStreet Ratings rates Fulton Financial as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.
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