Federated Hermes (NYSE:FHI) Stock Price Expected to Rise, Evercore ISI Analyst Says

Key Points

• Evercore ISI has raised the price target for Federated Hermes (NYSE:FHI) from $46.00 to $48.00, maintaining an "outperform" rating, despite indicating a potential downside from the current stock price.
• Recent ratings from other analysts include a downgrade from a "strong-buy" to "buy" by Wall Street Zen and from "buy" to "hold" by TD Cowen, while JPMorgan Chase upgraded it to "neutral" with a price target increase to $54.00.
• Federated Hermes recently reported an earnings per share (EPS) of $1.16 for the last quarter, exceeding estimates and marking a 5.5% year-over-year revenue growth.

Federated Hermes (NYSE:FHI - Get Free Report) had its price target increased by stock analysts at Evercore ISI from $46.00 to $48.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Evercore ISI's target price points to a potential downside of 6.02% from the stock's current price.

FHI has been the subject of several other reports. Royal Bank Of Canada increased their price objective on shares of Federated Hermes from $43.00 to $45.00 and gave the company a "sector perform" rating in a report on Thursday, July 10th. TD Cowen lowered Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Wall Street Zen cut Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. upgraded Federated Hermes from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $40.00 to $54.00 in a report on Monday. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Federated Hermes presently has a consensus rating of "Hold" and an average price target of $46.00.

Federated Hermes Stock Performance

FHI traded up $0.55 during trading hours on Monday, hitting $51.08. The company's stock had a trading volume of 108,599 shares, compared to its average volume of 831,518. The company has a 50-day simple moving average of $45.53 and a 200 day simple moving average of $41.61. The company has a current ratio of 3.37, a quick ratio of 2.35 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $4.04 billion, a PE ratio of 11.33, a PEG ratio of 0.73 and a beta of 0.77. Federated Hermes has a fifty-two week low of $32.27 and a fifty-two week high of $52.24.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.17. The business had revenue of $424.84 million for the quarter, compared to analysts' expectations of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The company's revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 earnings per share. As a group, sell-side analysts expect that Federated Hermes will post 4.04 EPS for the current year.

Insider Activity at Federated Hermes

In related news, VP Paul A. Uhlman sold 6,057 shares of Federated Hermes stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total value of $255,241.98. Following the transaction, the vice president directly owned 316,930 shares in the company, valued at $13,355,430.20. The trade was a 1.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On Federated Hermes

Institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its holdings in shares of Federated Hermes by 246.6% in the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after buying an additional 614 shares during the period. Quarry LP purchased a new stake in shares of Federated Hermes in the 4th quarter valued at approximately $37,000. AdvisorNet Financial Inc acquired a new position in Federated Hermes in the 2nd quarter worth approximately $44,000. Northwestern Mutual Wealth Management Co. grew its position in Federated Hermes by 22.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company's stock worth $63,000 after purchasing an additional 287 shares in the last quarter. Finally, Virtus Advisers LLC acquired a new stake in Federated Hermes during the 1st quarter valued at $72,000. 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.