Federated Hermes, Inc. to Post Q1 2024 Earnings of $0.87 Per Share, Zacks Research Forecasts (NYSE:FHI)

Federated Hermes, Inc. (NYSE:FHI) – Zacks Research increased their Q1 2024 EPS estimates for shares of Federated Hermes in a report issued on Wednesday, April 10th. Zacks Research analyst R. Department now anticipates that the company will earn $0.87 per share for the quarter, up from their previous forecast of $0.83. The consensus estimate for Federated Hermes’ current full-year earnings is $3.65 per share. Zacks Research also issued estimates for Federated Hermes’ Q2 2024 earnings at $0.90 EPS, Q3 2024 earnings at $0.96 EPS, Q4 2024 earnings at $1.00 EPS, FY2024 earnings at $3.73 EPS, Q1 2025 earnings at $1.01 EPS, Q2 2025 earnings at $1.01 EPS, Q3 2025 earnings at $1.07 EPS, Q4 2025 earnings at $1.09 EPS, FY2025 earnings at $4.17 EPS, Q1 2026 earnings at $1.11 EPS and FY2026 earnings at $4.57 EPS.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Monday, January 29th. UBS Group started coverage on shares of Federated Hermes in a research report on Friday, January 5th. They set a “neutral” rating and a $35.00 price target on the stock. TD Cowen began coverage on shares of Federated Hermes in a research report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on Federated Hermes from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.43.

Federated Hermes Stock Up 0.8 %

Federated Hermes stock opened at $36.55 on Friday. The business’s 50-day moving average price is $35.68 and its 200 day moving average price is $34.01. The company has a quick ratio of 1.89, a current ratio of 2.51 and a debt-to-equity ratio of 0.31. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 0.82 and a beta of 1.12. Federated Hermes has a 52 week low of $30.23 and a 52 week high of $45.55.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Friday, January 26th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.12. The company had revenue of $391.50 million for the quarter, compared to the consensus estimate of $396.97 million. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS.

Federated Hermes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 8th were paid a dividend of $0.28 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.06%. Federated Hermes’s dividend payout ratio is currently 32.84%.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP Meter Stephen Van sold 1,660 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $36.15, for a total transaction of $60,009.00. Following the completion of the transaction, the vice president now owns 31,689 shares of the company’s stock, valued at $1,145,557.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Meter Stephen Van sold 1,660 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total transaction of $60,009.00. Following the completion of the sale, the vice president now owns 31,689 shares of the company’s stock, valued at $1,145,557.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Paul A. Uhlman sold 13,820 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.20, for a total transaction of $500,284.00. Following the completion of the sale, the vice president now owns 276,084 shares of the company’s stock, valued at $9,994,240.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,435 shares of company stock valued at $4,092,831. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FHI. Gamco Investors INC. ET AL lifted its position in Federated Hermes by 0.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 91,200 shares of the company’s stock worth $3,088,000 after buying an additional 300 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Federated Hermes by 71.1% during the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock valued at $25,000 after acquiring an additional 307 shares during the last quarter. Eqis Capital Management Inc. boosted its position in shares of Federated Hermes by 3.7% during the 4th quarter. Eqis Capital Management Inc. now owns 8,920 shares of the company’s stock valued at $324,000 after acquiring an additional 321 shares during the last quarter. Whitener Capital Management Inc. grew its holdings in shares of Federated Hermes by 3.6% in the third quarter. Whitener Capital Management Inc. now owns 9,450 shares of the company’s stock valued at $320,000 after purchasing an additional 330 shares during the period. Finally, Signaturefd LLC increased its position in Federated Hermes by 69.9% during the third quarter. Signaturefd LLC now owns 834 shares of the company’s stock worth $28,000 after purchasing an additional 343 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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.