Federated Hermes Inc (NYSE:FHI)’s share price rose 7.4% during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $26.39 and last traded at $26.36, approximately 1,182,040 shares changed hands during trading. An increase of 49% from the average daily volume of 795,832 shares. The stock had previously closed at $24.55.

The company reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.17. Federated Hermes had a net margin of 21.18% and a return on equity of 29.70%. The firm had revenue of $360.71 million for the quarter, compared to analyst estimates of $351.26 million.

The firm also recently disclosed a dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 7th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, August 6th. Federated Hermes’s dividend payout ratio (DPR) is presently 40.15%.

A number of analysts have recently issued reports on the stock. TheStreet downgraded shares of Federated Hermes from a “b-” rating to a “c” rating in a report on Friday, July 10th. Royal Bank of Canada reiterated a “hold” rating and issued a $23.00 price objective on shares of Federated Hermes in a report on Thursday, April 23rd. Zacks Investment Research upgraded shares of Federated Hermes from a “sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a report on Tuesday, May 19th. Deutsche Bank lowered their price objective on shares of Federated Hermes from $24.00 to $23.00 and set a “hold” rating on the stock in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. upgraded shares of Federated Hermes from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $23.00 to $27.00 in a report on Wednesday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $21.20.

The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 0.98 and a beta of 1.26. The business has a fifty day simple moving average of $23.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.69 and a quick ratio of 2.30.

Federated Hermes Company Profile (NYSE:FHI)

Federated Investors, Inc engages in the provision of investment management products and related financial services. It sponsors, markets and provides investment-related services to sponsored investment companies, Federated Funds, and Separate Accounts which include separately managed accounts (SMAs), institutional accounts, sub-advised funds and other managed products in both domestic and international markets.

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