Federated Hermes, Inc. (NYSE:FHI) Shares Sold by Comerica Bank

Comerica Bank decreased its position in Federated Hermes, Inc. (NYSE:FHI) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,024 shares of the company’s stock after selling 2,366 shares during the quarter. Comerica Bank’s holdings in Federated Hermes were worth $1,275,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Federated Hermes in the 4th quarter worth approximately $37,000. R Squared Ltd bought a new stake in shares of Federated Hermes in the 4th quarter worth approximately $43,000. Sound Income Strategies LLC bought a new stake in shares of Federated Hermes in the 4th quarter worth approximately $53,000. GAMMA Investing LLC lifted its holdings in shares of Federated Hermes by 60.9% in the 4th quarter. GAMMA Investing LLC now owns 1,707 shares of the company’s stock worth $70,000 after purchasing an additional 646 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Federated Hermes in the 4th quarter worth approximately $73,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Stock Up 0.4%

Shares of Federated Hermes stock opened at $42.82 on Monday. The business’s fifty day moving average price is $39.26 and its two-hundred day moving average price is $39.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The company has a market capitalization of $3.39 billion, a P/E ratio of 13.42, a PEG ratio of 1.00 and a beta of 0.77. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.19. The company had revenue of $423.54 million for the quarter, compared to the consensus estimate of $425.43 million. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 EPS. As a group, research analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be issued a $0.34 dividend. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.18%. Federated Hermes’s dividend payout ratio is 38.31%.

Analysts Set New Price Targets

FHI has been the topic of several recent research reports. Evercore ISI raised their price target on Federated Hermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. UBS Group raised their price target on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. StockNews.com raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Monday, April 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada lifted their target price on Federated Hermes from $37.00 to $43.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Federated Hermes presently has a consensus rating of “Hold” and an average target price of $42.33.

Federated Hermes Company Profile

Federated Hermes, Inc is a publicly owned investment manager. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.