Passumpsic Savings Bank Invests $206,000 in Federated Hermes, Inc. (NYSE:FHI)

Passumpsic Savings Bank acquired a new position in Federated Hermes, Inc. (NYSE:FHI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,597 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC increased its position in Federated Hermes by 49.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after buying an additional 349 shares in the last quarter. CWM LLC increased its position in Federated Hermes by 985.7% in the 2nd quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after buying an additional 1,311 shares in the last quarter. UMB Bank n.a. increased its position in Federated Hermes by 26.0% in the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after buying an additional 296 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Federated Hermes in the 3rd quarter valued at about $60,000. Finally, Headlands Technologies LLC increased its position in Federated Hermes by 134.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,945 shares of the company’s stock valued at $64,000 after buying an additional 1,117 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

Federated Hermes Stock Up 1.1 %

FHI opened at $42.80 on Wednesday. The business’s fifty day simple moving average is $40.18 and its 200 day simple moving average is $36.03. The company has a quick ratio of 2.03, a current ratio of 2.75 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 52 week low of $31.24 and a 52 week high of $43.92. The stock has a market cap of $3.50 billion, a PE ratio of 13.61, a P/E/G ratio of 1.19 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The business had revenue of $408.46 million during the quarter, compared to analyst estimates of $410.26 million. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis. As a group, research analysts expect that Federated Hermes, Inc. will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.31 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.24 annualized dividend and a yield of 2.90%. Federated Hermes’s dividend payout ratio (DPR) is presently 39.87%.

Insiders Place Their Bets

In other Federated Hermes news, insider Richard A. Novak sold 1,363 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.47, for a total transaction of $56,523.61. Following the completion of the transaction, the insider now owns 53,837 shares of the company’s stock, valued at approximately $2,232,620.39. This trade represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $39.86, for a total transaction of $484,378.72. Following the transaction, the chief executive officer now directly owns 179,096 shares of the company’s stock, valued at $7,138,766.56. This represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,280 shares of company stock worth $1,185,871 over the last three months. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Royal Bank of Canada boosted their price objective on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft boosted their price objective on Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. UBS Group boosted their price objective on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI boosted their price objective on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.33.

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.