Federated Hermes (NYSE:FHI) Price Target Raised to $55.00 at Evercore ISI

Federated Hermes (NYSE:FHI) had its price target raised by Evercore ISI from $48.00 to $55.00 in a report released on Friday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other research analysts have also weighed in on FHI. JPMorgan Chase & Co. raised shares of Federated Hermes from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $40.00 to $54.00 in a report on Monday, August 4th. Royal Bank Of Canada raised their price objective on shares of Federated Hermes from $45.00 to $51.00 and gave the stock a “sector perform” rating in a report on Thursday, August 14th. Wall Street Zen lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, TD Cowen lowered shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $48.17.

Federated Hermes Price Performance

Shares of FHI stock opened at $52.76 on Friday. The firm has a market cap of $4.09 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.73 and a beta of 0.84. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. Federated Hermes has a 1-year low of $33.29 and a 1-year high of $54.42. The firm has a fifty day moving average of $49.90 and a two-hundred day moving average of $43.66.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.17. The company had revenue of $424.84 million during the quarter, compared to analyst estimates of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.96 EPS. As a group, research analysts anticipate that Federated Hermes will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. Federated Hermes’s payout ratio is 30.16%.

Institutional Trading of Federated Hermes

Several hedge funds have recently bought and sold shares of FHI. Farther Finance Advisors LLC lifted its position in Federated Hermes by 246.6% in the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company’s stock valued at $35,000 after purchasing an additional 614 shares during the last quarter. AdvisorNet Financial Inc bought a new stake in Federated Hermes in the 2nd quarter valued at about $44,000. Elevation Point Wealth Partners LLC bought a new stake in Federated Hermes in the 2nd quarter valued at about $46,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Federated Hermes in the 2nd quarter valued at about $56,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Federated Hermes by 22.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock valued at $63,000 after purchasing an additional 287 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

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.