Moving forward with its announced acquisition in April 2021, Federated Hermes, Inc. FHI has successfully completed the buyout of certain investment management related assets of Horizon Advisers, an unincorporated division of Hancock Whitney Bank, and the changeover of equity and fixed-income fund assets worth nearly $562 million.The remaining nine Hancock Horizon mutual funds — seven equity and two municipal bond funds — were converted into one new and six existing Federated Hermes mutual funds with analogous investment objectives and strategies.Joe Machi, director of alliances at Federated Hermes, remarked, "The successful completion of this transaction is the result of Federated Hermes' experience with similar transactions, our client-centered approach and our long-term relationship with Hancock Whitney Bank.”The acquisition gives the shareholders of the funds access to the company’s manifold range of investment strategies, substantiated performance and comprehensive customer service capabilities.In the last few years, Federated Hermes has inked strategic deals and thereby, expanded operations in the U.K. and Chile. Notably, the company continues to eye alliances and acquisitions to expand its business in Europe and the Asia-Pacific region as well as in the United States and the rest of the Americas.Federated Hermes currently carries a Zacks Rank #4 (Sell). Shares of the company have gained 1.2% over the past six months compared with the 13% rally recorded by the industry.You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.Image Source: Zacks Investment ResearchCompetitive LandscapeAcquisitions have been on the rise in the banking sector, of late. In the current scenario, banks are moving toward consolidations to dodge the heightened costs of regulatory compliance and increased investments in technology in a bid to remain competitive. The prevalent low interest-rate environment and other economic challenges following the pandemic have taken a toll on banks’ profitability.Earlier this month, in an effort to diversify revenues, Valley National Bancorp VLY had signed a deal to acquire Bank Leumi Le-Israel B.M.’s U.S. banking arm — Bank Leumi USA — for $1.15 billion. The deal is likely to close by late first-quarter or early second-quarter 2022.U.S. Bancorp USB has entered into a definitive agreement to acquire MUFG Union Bank’s core retail banking operations from Mitsubishi UFJ Financial Group MUFG for a cash-and-stock transaction valued at $8 billion, in a bid to boost its presence on the West Coast. The deal’s closure, expected in the first-half of 2022, is subject to the satisfaction of customary closing conditions and regulatory approvals. No shareholder approvals are required from the companies. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report U.S. Bancorp (USB): Free Stock Analysis Report Valley National Bancorp (VLY): Free Stock Analysis Report Mitsubishi UFJ Financial Group, Inc. (MUFG): Free Stock Analysis Report Federated Hermes, Inc. (FHI): Free Stock Analysis Report To read this article on Zacks.com click here.