Basswood Capital Management L.L.C. Makes New Investment in Federated Hermes, Inc. (NYSE:FHI)

Basswood Capital Management L.L.C. acquired a new position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 80,787 shares of the company's stock, valued at approximately $3,321,000. Basswood Capital Management L.L.C. owned 0.10% of Federated Hermes at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quarry LP purchased a new position in Federated Hermes in the fourth quarter valued at $37,000. R Squared Ltd acquired a new stake in shares of Federated Hermes during the fourth quarter worth $43,000. Sound Income Strategies LLC acquired a new position in shares of Federated Hermes during the fourth quarter worth about $53,000. GAMMA Investing LLC raised its stake in shares of Federated Hermes by 60.9% during the 4th quarter. GAMMA Investing LLC now owns 1,707 shares of the company's stock worth $70,000 after buying an additional 646 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Federated Hermes in the fourth quarter valued at $73,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $38.81, for a total transaction of $215,240.26. Following the completion of the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at approximately $6,950,715.76. This trade represents a 3.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

Federated Hermes Stock Performance

Shares of FHI traded up $0.37 during midday trading on Wednesday, hitting $42.35. 578,062 shares of the stock traded hands, compared to its average volume of 726,965. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70. Federated Hermes, Inc. has a 1-year low of $31.24 and a 1-year high of $43.92. The business's 50 day moving average price is $39.00 and its two-hundred day moving average price is $39.82. The firm has a market capitalization of $3.35 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 1.00 and a beta of 0.77.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.19. The company had revenue of $423.54 million during the quarter, compared to analyst estimates of $425.43 million. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The firm's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 EPS. Equities research analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.34 per share. 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 3.21%. Federated Hermes's dividend payout ratio (DPR) is 38.31%.

Wall Street Analysts Forecast Growth

FHI has been the topic of a number of research reports. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. UBS Group raised their target price on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price objective on Federated Hermes from $37.00 to $43.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Evercore ISI lifted their price target 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. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $43.00 price target (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Federated Hermes presently has an average rating of "Hold" and a consensus price target 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.