Fifth Third Bancorp Has $1.44 Million Holdings in Federated Hermes, Inc. $FHI

Fifth Third Bancorp raised its stake in Federated Hermes, Inc. (NYSE:FHI) by 4,178.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,327 shares of the company’s stock after acquiring an additional 24,735 shares during the period. Fifth Third Bancorp’s holdings in Federated Hermes were worth $1,436,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Torren Management LLC acquired a new stake in shares of Federated Hermes in the 4th quarter valued at $25,000. Root Financial Partners LLC raised its position in shares of Federated Hermes by 71.0% during the first quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock worth $32,000 after acquiring an additional 237 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Federated Hermes by 119.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock valued at $38,000 after acquiring an additional 401 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Federated Hermes by 145.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock valued at $44,000 after acquiring an additional 503 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Federated Hermes by 220.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock valued at $45,000 after acquiring an additional 594 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on FHI shares. Wall Street Zen cut Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. JPMorgan Chase & Co. reduced their target price on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating on the stock in a research note on Monday, May 4th. Evercore reiterated an “outperform” rating and set a $59.00 price target on shares of Federated Hermes in a research report on Monday, June 8th. Royal Bank Of Canada boosted their price target on shares of Federated Hermes from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.75.

Federated Hermes Stock Down 0.8%

Shares of Federated Hermes stock opened at $57.21 on Friday. Federated Hermes, Inc. has a 1 year low of $46.66 and a 1 year high of $60.77. The business has a 50-day moving average of $57.10 and a two-hundred day moving average of $56.00. The company has a market capitalization of $4.34 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 1.56 and a beta of 0.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.28 and a quick ratio of 2.73.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.07. The company had revenue of $478.96 million during the quarter, compared to analysts’ expectations of $475.22 million. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 earnings per share. As a group, equities analysts predict that Federated Hermes, Inc. will post 5.24 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, May 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.7%. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s dividend payout ratio (DPR) is currently 29.46%.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 8,950 shares of Federated Hermes stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $57.34, for a total value of $513,193.00. Following the completion of the transaction, the chief executive officer owned 151,276 shares of the company’s stock, valued at $8,674,165.84. This trade represents a 5.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Bryan M. Burke sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.20, for a total value of $216,800.00. Following the transaction, the vice president directly owned 74,921 shares in the company, valued at approximately $4,060,718.20. This trade represents a 5.07% decrease in their position. The SEC filing for this sale provides additional information. 4.20% of the stock is owned by company insiders.

Federated Hermes Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.