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

Bank of America Corp DE lowered its holdings in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 36.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 341,818 shares of the company's stock after selling 199,921 shares during the period. Bank of America Corp DE owned 0.42% of Federated Hermes worth $14,052,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC raised its position 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 purchasing an additional 150,017 shares during the period. MBM Wealth Consultants LLC boosted its holdings in shares of Federated Hermes by 6.8% during the 4th quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company's stock worth $306,000 after buying an additional 474 shares during the period. Inspire Investing LLC acquired a new position in Federated Hermes in the 4th quarter valued at about $829,000. Sound Income Strategies LLC bought a new position in Federated Hermes in the 4th quarter valued at about $53,000. Finally, Exchange Traded Concepts LLC raised its holdings in Federated Hermes by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 22,240 shares of the company's stock valued at $914,000 after acquiring an additional 560 shares during the period. Institutional investors and hedge funds own 75.94% of the company's stock.

Federated Hermes Price Performance

Shares of FHI stock traded up $0.36 during trading on Tuesday, hitting $42.44. The company had a trading volume of 931,797 shares, compared to its average volume of 734,651. The firm has a market capitalization of $3.36 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 1.00 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70. The stock's 50-day moving average price is $40.15 and its 200 day moving average price is $40.11. Federated Hermes, Inc. has a one year low of $31.24 and a one year high of $43.92.

Federated Hermes (NYSE:FHI - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.19. The company had revenue of $423.54 million for 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%. Federated Hermes's quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 EPS. Equities analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were issued a $0.34 dividend. This is a positive change from Federated Hermes's previous quarterly dividend of $0.31. This represents a $1.36 annualized dividend and a yield of 3.20%. The ex-dividend date was Thursday, May 8th. Federated Hermes's dividend payout ratio (DPR) is currently 38.31%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. restated an "underweight" rating and set a $41.00 price objective (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Wall Street Zen upgraded Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. Royal Bank of Canada increased their price objective on Federated Hermes from $37.00 to $43.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. Evercore ISI lifted their target price on Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, TD Cowen cut shares of Federated Hermes from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.