Comerica Bank Sells 3,955 Shares of Federated Hermes, Inc. (NYSE:FHI)

Comerica Bank cut its holdings in Federated Hermes, Inc. (NYSE:FHIGet Rating) by 9.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,026 shares of the company’s stock after selling 3,955 shares during the period. Comerica Bank’s holdings in Federated Hermes were worth $1,211,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Strs Ohio grew its position in Federated Hermes by 57.6% during the third quarter. Strs Ohio now owns 34,200 shares of the company’s stock worth $1,132,000 after buying an additional 12,500 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new stake in Federated Hermes during the third quarter worth about $30,000. Janney Montgomery Scott LLC grew its position in Federated Hermes by 3.0% during the third quarter. Janney Montgomery Scott LLC now owns 48,380 shares of the company’s stock worth $1,602,000 after buying an additional 1,425 shares in the last quarter. Raymond James & Associates grew its position in Federated Hermes by 1.9% during the third quarter. Raymond James & Associates now owns 29,579 shares of the company’s stock worth $980,000 after buying an additional 553 shares in the last quarter. Finally, Eqis Capital Management Inc. grew its position in Federated Hermes by 8.5% during the third quarter. Eqis Capital Management Inc. now owns 8,599 shares of the company’s stock worth $285,000 after buying an additional 671 shares in the last quarter. 78.82% of the stock is currently owned by institutional investors.

Federated Hermes Stock Down 0.5 %

NYSE FHI opened at $38.07 on Tuesday. Federated Hermes, Inc. has a 1-year low of $27.88 and a 1-year high of $39.29. The stock’s 50 day moving average is $37.18 and its two-hundred day moving average is $35.08. The company has a current ratio of 2.64, a quick ratio of 1.90 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 13.89 and a beta of 1.03.

Federated Hermes (NYSE:FHIGet Rating) last posted its earnings results on Thursday, October 27th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. Federated Hermes had a net margin of 18.05% and a return on equity of 25.31%. The company had revenue of $381.14 million during the quarter, compared to analysts’ expectations of $373.91 million. Equities analysts forecast that Federated Hermes, Inc. will post 2.87 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 8th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Monday, November 7th. Federated Hermes’s dividend payout ratio (DPR) is currently 39.42%.

Insider Activity

In other news, Vice Chairman Gordon J. Ceresino sold 12,853 shares of Federated Hermes stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $38.20, for a total value of $490,984.60. Following the completion of the transaction, the insider now owns 155,829 shares in the company, valued at $5,952,667.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Thomas R. Donahue sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $35.21, for a total value of $1,056,300.00. Following the completion of the transaction, the chief financial officer now owns 544,630 shares in the company, valued at approximately $19,176,422.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Gordon J. Ceresino sold 12,853 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $38.20, for a total transaction of $490,984.60. Following the completion of the transaction, the insider now owns 155,829 shares of the company’s stock, valued at approximately $5,952,667.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,328 shares of company stock worth $3,524,104. Insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FHI shares. StockNews.com started coverage on Federated Hermes in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Federated Hermes from $42.00 to $44.00 in a report on Wednesday, January 11th. Finally, Royal Bank of Canada lifted their price objective on Federated Hermes from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Tuesday, November 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.10.

Federated Hermes Company Profile

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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.

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Institutional Ownership by Quarter for Federated Hermes (NYSE:FHI)

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