JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Federated Hermes (NYSE:FHI) Stock

Federated Hermes (NYSE:FHI) had its price target upped by stock analysts at JPMorgan Chase & Co. from $55.00 to $56.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 16.48% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Wall Street Zen cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Royal Bank Of Canada boosted their target price on Federated Hermes from $45.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 14th. Zacks Research raised Federated Hermes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Evercore ISI increased their target price on shares of Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

Federated Hermes Stock Down 0.8%

NYSE:FHI traded down $0.41 during midday trading on Monday, reaching $48.08. 49,188 shares of the stock traded hands, compared to its average volume of 765,726. The business has a 50-day moving average of $51.87 and a two-hundred day moving average of $47.37. The stock has a market capitalization of $3.73 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 0.54 and a beta of 0.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. Federated Hermes has a 12-month low of $35.05 and a 12-month high of $54.42.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.23. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The business had revenue of $469.45 million for the quarter, compared to analyst estimates of $442.67 million. During the same period in the prior year, the company earned $1.06 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts forecast that Federated Hermes will post 4.04 earnings per share for the current fiscal year.

Institutional Trading of Federated Hermes

A number of hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co increased its holdings in shares of Federated Hermes by 2.6% during the 2nd quarter. Diversified Trust Co now owns 9,036 shares of the company’s stock worth $400,000 after buying an additional 229 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Federated Hermes by 10.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,524 shares of the company’s stock worth $131,000 after purchasing an additional 241 shares during the period. Hohimer Wealth Management LLC increased its position in Federated Hermes by 3.8% during the 1st quarter. Hohimer Wealth Management LLC now owns 6,795 shares of the company’s stock worth $277,000 after purchasing an additional 249 shares in the last quarter. CW Advisors LLC lifted its position in Federated Hermes by 3.8% during the first quarter. CW Advisors LLC now owns 7,168 shares of the company’s stock valued at $292,000 after buying an additional 261 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in Federated Hermes by 2.5% during the first quarter. Pacer Advisors Inc. now owns 11,900 shares of the company’s stock valued at $485,000 after buying an additional 286 shares in the last quarter. 75.94% of the stock is 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.