Federated Hermes (NYSE:FHI) Issues Quarterly Earnings Results

Federated Hermes (NYSE:FHI) released its quarterly earnings results on Thursday. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.14, Briefing.com reports. The firm had revenue of $408.46 million during the quarter, compared to analyst estimates of $410.26 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 EPS.

Federated Hermes Stock Up 0.1 %

NYSE FHI traded up $0.03 during mid-day trading on Friday, hitting $38.63. The company’s stock had a trading volume of 1,204,221 shares, compared to its average volume of 711,844. The company’s 50 day simple moving average is $35.84 and its 200 day simple moving average is $34.22. Federated Hermes has a twelve month low of $30.23 and a twelve month high of $40.29. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 1.41 and a beta of 1.16.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Friday, November 8th. Federated Hermes’s payout ratio is currently 35.23%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group raised their price objective on shares of 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 objective on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Royal Bank of Canada raised their price objective on shares of Federated Hermes from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Finally, Evercore ISI raised their price objective on shares of Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Federated Hermes has a consensus rating of “Moderate Buy” and an average price target of $38.80.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the transaction, the vice president now directly owns 442,570 shares in the company, valued at approximately $14,476,464.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is currently owned by insiders.

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.