Royal Bank of Canada Issues Positive Forecast for Federated Hermes (NYSE:FHI) Stock Price

Federated Hermes (NYSE:FHI) had its price target lifted by equities research analysts at Royal Bank of Canada from $37.00 to $43.00 in a note issued to investors on Wednesday, Marketbeat reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 0.86% from the company’s current price.

Several other analysts also recently weighed in on FHI. JPMorgan Chase & Co. restated an “underweight” rating and set a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $43.00 price objective (down previously from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. Evercore ISI raised their price target on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. UBS Group boosted their price objective on Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, StockNews.com raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $42.33.

Federated Hermes Price Performance

Federated Hermes stock opened at $42.64 on Wednesday. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.00 and a beta of 0.77. The stock’s 50 day moving average is $39.15 and its 200-day moving average is $39.86. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. Federated Hermes has a 12 month low of $31.24 and a 12 month high of $43.92.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The company had revenue of $423.54 million during the quarter, compared to the consensus estimate of $425.43 million. During the same period in the previous year, the business earned $0.89 earnings per share. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. Equities research analysts expect that Federated Hermes will post 4.04 EPS for the current year.

Institutional Trading of Federated Hermes

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its position in shares of Federated Hermes by 4.5% during the 4th quarter. FMR LLC now owns 5,919,888 shares of the company’s stock valued at $243,367,000 after purchasing an additional 253,553 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Federated Hermes by 3.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,888,263 shares of the company’s stock worth $77,626,000 after buying an additional 63,664 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Federated Hermes by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,282,252 shares of the company’s stock valued at $52,731,000 after purchasing an additional 32,070 shares during the period. Bank of New York Mellon Corp boosted its stake in Federated Hermes by 53.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company’s stock valued at $52,493,000 after buying an additional 446,683 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Federated Hermes by 19.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock valued at $37,618,000 after acquiring an additional 145,878 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Company 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.