Everence Capital Management Inc. Invests $239,000 in Fulton Financial Co. (NASDAQ:FULT)

Everence Capital Management Inc. bought a new position in Fulton Financial Co. (NASDAQ:FULT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,520 shares of the bank’s stock, valued at approximately $239,000.

A number of other hedge funds have also modified their holdings of FULT. Morton Brown Family Wealth LLC acquired a new position in shares of Fulton Financial in the 4th quarter worth approximately $26,000. Blue Trust Inc. raised its holdings in shares of Fulton Financial by 82.8% in the 4th quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after buying an additional 781 shares in the last quarter. Strs Ohio acquired a new position in shares of Fulton Financial in the 4th quarter worth approximately $29,000. Lazard Asset Management LLC raised its holdings in shares of Fulton Financial by 1,554.1% in the 1st quarter. Lazard Asset Management LLC now owns 2,200 shares of the bank’s stock worth $36,000 after buying an additional 2,067 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in shares of Fulton Financial in the 3rd quarter worth approximately $38,000. 72.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stephens dropped their target price on Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating for the company in a report on Thursday. Keefe, Bruyette & Woods raised their price target on Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a report on Thursday, January 18th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Finally, Jefferies Financial Group dropped their price target on Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a report on Monday, April 8th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $15.30.

Fulton Financial Trading Down 0.4 %

FULT stock opened at $14.43 on Friday. The business has a fifty day moving average price of $15.31 and a 200 day moving average price of $14.88. Fulton Financial Co. has a fifty-two week low of $9.64 and a fifty-two week high of $17.06. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 8.96 and a beta of 0.81. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.95.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Wednesday, January 17th. The bank reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $271.38 million during the quarter, compared to analysts’ expectations of $268.70 million. Fulton Financial had a return on equity of 11.50% and a net margin of 18.31%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $0.48 EPS. Analysts expect that Fulton Financial Co. will post 1.53 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.68 annualized dividend and a dividend yield of 4.71%. Fulton Financial’s dividend payout ratio (DPR) is currently 42.24%.

Fulton Financial 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.