Cerity Partners LLC Has $896,000 Position in Fulton Financial Co. (NASDAQ:FULT)

Cerity Partners LLC lifted its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 28.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,399 shares of the bank’s stock after buying an additional 10,820 shares during the period. Cerity Partners LLC’s holdings in Fulton Financial were worth $896,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Millennium Management LLC increased its holdings in Fulton Financial by 511.1% during the second quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock worth $55,287,000 after buying an additional 2,723,170 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Fulton Financial by 18.6% during the 2nd quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank’s stock worth $51,323,000 after purchasing an additional 474,099 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Fulton Financial by 28.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank’s stock valued at $43,164,000 after purchasing an additional 567,771 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Fulton Financial by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,358,099 shares of the bank’s stock valued at $42,752,000 after purchasing an additional 31,754 shares during the period. Finally, Emerald Advisers LLC lifted its stake in Fulton Financial by 213.6% in the 3rd quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank’s stock valued at $23,706,000 after purchasing an additional 890,630 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Fulton Financial Price Performance

Fulton Financial stock opened at $21.16 on Friday. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 13.48 and a beta of 0.78. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. Fulton Financial Co. has a 12 month low of $13.87 and a 12 month high of $22.49. The stock’s 50 day moving average is $19.25 and its 200-day moving average is $18.21.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. The firm had revenue of $487.33 million for the quarter, compared to analyst estimates of $321.00 million. During the same period in the prior year, the firm posted $0.43 EPS. Equities research analysts expect that Fulton Financial Co. will post 1.74 EPS for the current year.

Fulton Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.21%. The ex-dividend date was Tuesday, October 1st. Fulton Financial’s dividend payout ratio (DPR) is 43.04%.

Analyst Ratings Changes

A number of brokerages have weighed in on FULT. Piper Sandler set a $21.00 price target on Fulton Financial in a research report on Thursday, October 17th. StockNews.com lowered Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Finally, Keefe, Bruyette & Woods raised their price target on Fulton Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.50.

About Fulton Financial

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.