Ledyard National Bank Has $210,000 Holdings in Federated Hermes, Inc. (NYSE:FHI)

Ledyard National Bank lowered its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 92.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,722 shares of the company's stock after selling 75,099 shares during the quarter. Ledyard National Bank's holdings in Federated Hermes were worth $210,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Headlands Technologies LLC increased its holdings in Federated Hermes by 607.7% during the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company's stock valued at $30,000 after purchasing an additional 711 shares in the last quarter. GAMMA Investing LLC boosted 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 during the last quarter. Mather Group LLC. bought a new position in Federated Hermes in the 2nd quarter valued at $47,000. CWM LLC boosted 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 during the last quarter. Finally, UMB Bank n.a. boosted 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 during the last quarter. Institutional investors own 75.94% of the company's stock.

Federated Hermes Trading Down 0.4 %

FHI stock traded down $0.16 during midday trading on Wednesday, hitting $38.03. 571,347 shares of the company's stock were exchanged, compared to its average volume of 708,249. The stock's fifty day moving average price is $35.53 and its 200-day moving average price is $34.15. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75. The company has a market cap of $3.20 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. Federated Hermes, Inc. has a one year low of $30.23 and a one year high of $39.03.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.07. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The firm had revenue of $402.60 million for the quarter, compared to the consensus estimate of $400.35 million. During the same quarter last year, the business posted $0.81 EPS. The company's revenue for the quarter was down 7.1% on a year-over-year basis. Research analysts predict that Federated Hermes, Inc. will post 3.63 earnings per share for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were paid a $0.31 dividend. This is an increase from Federated Hermes's previous quarterly dividend of $0.28. The ex-dividend date was Thursday, August 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.26%. Federated Hermes's dividend payout ratio (DPR) is currently 35.23%.

Analysts Set New Price Targets

A number of brokerages have commented on FHI. StockNews.com upgraded Federated Hermes from a "hold" rating to a "buy" rating in a research report on Friday, October 4th. UBS Group raised their price target on Federated Hermes from $36.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday. TD Cowen reduced their price target on Federated Hermes from $34.00 to $33.00 and set a "hold" rating on the stock in a research report on Monday, July 29th. Evercore ISI raised their price target on Federated Hermes from $36.00 to $38.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. raised their price target on Federated Hermes from $46.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Federated Hermes has a consensus rating of "Moderate Buy" and an average price target of $38.80.

Insider Buying and Selling at Federated Hermes

In related news, VP John B. Fisher sold 79,830 shares of Federated Hermes stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the sale, the vice president now owns 442,570 shares of the company's stock, valued at approximately $14,476,464.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.70% of the company's stock.

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.