Bank of America Corp DE Has $14.05 Million Stake in Federated Hermes, Inc. (NYSE:FHI)

Bank of America Corp DE cut its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 36.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 341,818 shares of the company’s stock after selling 199,921 shares during the quarter. Bank of America Corp DE’s holdings in Federated Hermes were worth $14,052,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC increased its stake in shares of Federated Hermes by 228.6% in the third quarter. Barclays PLC now owns 215,650 shares of the company’s stock valued at $7,930,000 after buying an additional 150,017 shares during the period. MBM Wealth Consultants LLC lifted its stake in shares of Federated Hermes by 6.8% in the fourth quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company’s stock worth $306,000 after acquiring an additional 474 shares during the period. Inspire Investing LLC bought a new stake in Federated Hermes in the fourth quarter valued at approximately $829,000. Sound Income Strategies LLC bought a new stake in Federated Hermes in the fourth quarter valued at approximately $53,000. Finally, Exchange Traded Concepts LLC increased its position in Federated Hermes by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 22,240 shares of the company’s stock valued at $914,000 after purchasing an additional 560 shares during the period. 75.94% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Stock Down 1.1%

Federated Hermes stock opened at $42.43 on Thursday. The company has a market capitalization of $3.36 billion, a PE ratio of 13.30, a PEG ratio of 1.00 and a beta of 0.77. Federated Hermes, Inc. has a 12-month low of $31.24 and a 12-month high of $43.92. The firm’s fifty day moving average is $39.93 and its 200 day moving average is $40.08. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.19. The firm had revenue of $423.54 million during the quarter, compared to the consensus estimate of $425.43 million. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. As a group, sell-side analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were paid a dividend of $0.34 per share. This is an increase from Federated Hermes’s previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Thursday, May 8th. Federated Hermes’s dividend payout ratio is 38.31%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of Federated Hermes from $37.00 to $43.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 7th. Evercore ISI lifted their target price on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. StockNews.com upgraded shares of 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 price target (down previously from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. Finally, UBS Group lifted their price objective on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.33.

About Federated Hermes

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.