Jefferies Comments On Fulton 2Q

According to Jefferies, Fulton Financial FULT reported GAAP EPS of $0.18 beating consensus by a penny. Jefferies said that pre-tax, preprovision income got a decent pop from strength in core fees and continued cost controls, but continued loan shrinkage and slowly improving credit metrics should temper investors' enthusiasm to a slight EPS beat, which received a $0.01 benefit from reserve bleed. Fulton Financial closed yesterday at $10.32.