Basswood Capital Management L.L.C. Invests $3.32 Million in Federated Hermes, Inc. (NYSE:FHI)

Basswood Capital Management L.L.C. bought a new stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FHI. Ameriprise Financial Inc. grew its holdings in shares of Federated Hermes by 1.4% in the 4th quarter. Ameriprise Financial Inc. now owns 139,957 shares of the company's stock worth $5,754,000 after purchasing an additional 1,880 shares during the last quarter. Algert Global LLC grew its stake in Federated Hermes by 5.6% during the fourth quarter. Algert Global LLC now owns 373,141 shares of the company's stock worth $15,340,000 after buying an additional 19,899 shares during the last quarter. Freestone Grove Partners LP bought a new position in shares of Federated Hermes in the fourth quarter valued at approximately $3,812,000. Voleon Capital Management LP acquired a new position in shares of Federated Hermes in the 4th quarter worth approximately $1,108,000. Finally, Northern Trust Corp grew its position in Federated Hermes by 6.0% during the 4th quarter. Northern Trust Corp now owns 554,958 shares of the company's stock worth $22,814,000 after acquiring an additional 31,592 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FHI. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $41.00 target price (down from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Royal Bank of Canada boosted their target price on Federated Hermes from $37.00 to $43.00 and gave the stock a "sector perform" rating in a research report on Wednesday. UBS Group upped their price target on Federated Hermes from $39.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. StockNews.com raised shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Evercore ISI boosted 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $42.33.

Federated Hermes Trading Up 0.4 %

Shares of NYSE FHI traded up $0.16 during midday trading on Friday, reaching $42.83. 266,092 shares of the stock were exchanged, compared to its average volume of 724,716. The business has a 50-day simple moving average of $39.15 and a two-hundred day simple moving average of $39.86. 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 price-to-earnings ratio of 13.43, a P/E/G 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.

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

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be paid a $0.34 dividend. This is an increase 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 (DPR) is currently 38.31%.

Federated Hermes 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.