Federated Hermes (FHI)

NYSEFinancialsAsset ManagementSnapshot 2026-10-23

$56.81-1.49%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Federated Hermes’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

-1.5%

+10% or more+5%0%−5%−10% or less

5.95 → 5.86 EPS · FY ending Dec 31, 2027 · 5 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 5 to 5; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	509.51M
EPS	—	1.427
Annual ending 2026-12-31
Revenue	—	2B
EPS	—	5.482
Annual ending 2027-12-31
Revenue	—	2.08B
EPS	—	5.859

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Grow assets under management	Federated Hermes is growing assets under management to a record $907 billion.	Intact	AUM falls below $900 billion	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 4 of last 4 quarters. Total assets under management grew from $845.7 billion in 2025-Q2 to $911.6 billion in 2026-Q2, an 8% increase year-over-year. Management has consistently reported record AUM levels each quarter, demonstrating delivery on this growth priority. Delivery assessment Oct 24, 2026
Maintain and increase dividend payout	A supporting condition in Federated Hermes's published investment case. The stated target is Dividend per share >= $0.38 per quarter.	Intact	Dividend per share falls below $0.38	Dividend per share: $0.38 per share FY2026-Q2; GAAP. Published target: Dividend per share >= $0.38 per quarter. Target period is not explicitly aligned with this observation. Source published Jul 31, 20260.38 USD/share · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: b2839ba5-ea92-4d30-a07b-554be88ff1ba. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Increase earnings per share	Earnings per share rose slightly to $1.27 in Q1 2026.	Intact	EPS falls below $5.13 for FY 2025	Diluted EPS: $1.38 per share FY2026-Q2; GAAP. Published target: >=$5.13 EPS for FY 2025. Target period is not explicitly aligned with this observation. Source published Jul 31, 20261.38 USD/share · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: b2839ba5-ea92-4d30-a07b-554be88ff1ba. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$5.86

$5.84 → $5.86 · observed estimates

FY2027 revenue: comparable history unavailable.

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$5.84	Unavailable	6 / 4
2026-07-25	$5.84	Unavailable	6 / 4
2026-07-26	$5.93	Unavailable	5 / 4
2026-07-27	$5.84	Unavailable	6 / 4
2026-07-28	$5.93	Unavailable	5 / 4
2026-07-29	$5.84	Unavailable	6 / 4
2026-07-30	$5.84	Unavailable	6 / 4
2026-07-31	$5.84	Unavailable	6 / 4
2026-08-01	$5.94	Unavailable	5 / 4
2026-08-02	$5.86	Unavailable	6 / 4
2026-08-03	$5.86	Unavailable	6 / 4
2026-08-04	$5.86	Unavailable	6 / 4
2026-08-05	$5.87	Unavailable	6 / 4
2026-08-06	$5.87	Unavailable	6 / 4
2026-08-07	$5.97	Unavailable	5 / 4
2026-08-08	$5.87	Unavailable	6 / 4
2026-08-09	$5.87	Unavailable	6 / 4
2026-08-10	$5.97	Unavailable	5 / 4
2026-08-11	$5.87	Unavailable	6 / 4
2026-08-12	$5.88	Unavailable	5 / 4
2026-08-13	$5.97	Unavailable	5 / 4
2026-08-14	$5.97	Unavailable	5 / 4
2026-08-15	$5.97	Unavailable	5 / 4
2026-08-16	$5.97	Unavailable	5 / 4
2026-08-17	$5.97	Unavailable	5 / 4
2026-08-18	$5.97	Unavailable	5 / 4
2026-08-19	$5.97	Unavailable	5 / 4
2026-08-20	$5.96	Unavailable	5 / 4
2026-08-21	$5.96	Unavailable	5 / 4
2026-08-22	$5.96	Unavailable	5 / 4
2026-08-23	$5.96	Unavailable	5 / 4
2026-08-24	$5.96	Unavailable	5 / 4
2026-08-25	$5.96	Unavailable	5 / 4
2026-08-26	$5.96	Unavailable	5 / 4
2026-08-27	$5.96	Unavailable	5 / 4
2026-08-28	$5.96	Unavailable	5 / 4
2026-08-29	$5.96	Unavailable	5 / 4
2026-08-30	$5.96	Unavailable	5 / 4
2026-08-31	$5.96	Unavailable	5 / 4
2026-09-01	$5.96	Unavailable	5 / 4
2026-09-02	$5.96	Unavailable	5 / 4
2026-09-03	$5.96	Unavailable	5 / 4
2026-09-04	$5.96	Unavailable	5 / 4
2026-09-05	$5.96	Unavailable	5 / 4
2026-09-06	$5.96	Unavailable	5 / 4
2026-09-07	$5.96	Unavailable	5 / 4
2026-09-08	$5.96	Unavailable	5 / 4
2026-09-09	$5.96	Unavailable	5 / 4
2026-09-10	$5.95	Unavailable	5 / 4
2026-09-11	$5.95	Unavailable	5 / 4
2026-09-12	$5.95	Unavailable	5 / 4
2026-09-13	$5.95	Unavailable	5 / 4
2026-09-14	$5.95	Unavailable	5 / 4
2026-09-15	$5.95	Unavailable	5 / 4
2026-09-16	$5.95	Unavailable	5 / 4
2026-09-17	$5.95	Unavailable	5 / 4
2026-09-18	$5.95	Unavailable	5 / 4
2026-09-19	$5.95	Unavailable	5 / 4
2026-09-20	$5.95	Unavailable	5 / 4
2026-09-21	$5.95	Unavailable	5 / 4
2026-09-22	$5.95	Unavailable	5 / 4
2026-09-23	$5.95	Unavailable	5 / 4
2026-09-24	$5.95	Unavailable	5 / 4
2026-09-25	$5.95	Unavailable	5 / 4
2026-09-26	$5.95	Unavailable	5 / 4
2026-09-27	$5.95	Unavailable	5 / 4
2026-09-28	$5.95	Unavailable	5 / 4
2026-09-29	$5.95	Unavailable	5 / 4
2026-09-30	$5.95	Unavailable	5 / 4
2026-10-01	$5.95	Unavailable	5 / 4
2026-10-02	$5.95	Unavailable	5 / 4
2026-10-03	$5.95	Unavailable	5 / 4
2026-10-04	$5.95	Unavailable	5 / 4
2026-10-05	$5.95	Unavailable	5 / 4
2026-10-06	$5.95	Unavailable	5 / 4
2026-10-07	$5.96	Unavailable	5 / 4
2026-10-08	$5.96	Unavailable	5 / 4
2026-10-09	$5.90	Unavailable	5 / 4
2026-10-10	$5.90	Unavailable	5 / 4
2026-10-11	$5.94	Unavailable	5 / 4
2026-10-12	$5.94	Unavailable	5 / 4
2026-10-13	$5.86	Unavailable	5 / 4
2026-10-14	$5.86	Unavailable	5 / 4
2026-10-15	$5.86	Unavailable	5 / 4
2026-10-16	$5.86	Unavailable	5 / 4
2026-10-17	$5.86	Unavailable	5 / 4
2026-10-18	$5.86	Unavailable	5 / 4
2026-10-19	$5.86	Unavailable	5 / 4
2026-10-20	$5.86	Unavailable	5 / 4
2026-10-21	$5.86	Unavailable	5 / 4
2026-10-22	$5.86	Unavailable	5 / 4
2026-10-23	$5.86	Unavailable	5 / 4
2026-10-24	$5.86	Unavailable	5 / 4

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	1	6	1
2026-06-01	1	6	1
2026-07-01	1	6	1
2026-08-01	1	6	1
2026-09-01	1	6	1
2026-10-01	1	6	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 1 Buy / Strong Buy · 6 Hold · 1 Sell / Strong Sell

0 upgrades0 downgrades2 maintains

Recent actions · Sep 25–Oct 24 · 2 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Grow assets under managementDirect metric needs a verified mapping
Maintain and increase dividend payoutDividend per share: $0.38 per share
Increase earnings per shareDiluted EPS: $1.38 per share

Next proof point

Oct 29, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.1%Typical daily move · historical

Downside history

-16.0%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Federated Hermes outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

FHI is a financial business with a growth thesis built around rising assets under management and broader private-markets capabilities. The thesis state is watch: management is delivering on stated priorities, but recent financial performance remains below its industry cohort and earnings quality is fragile.

What's priced into Federated Hermes

FHI is valued as cheap versus peers, and the evidence describes the expectations gap as small. The current pricing is tagged as justified, with low priced-in fragility, rather than as a case where weak execution and high valuation are both assumed.

What the fundamentals likely do

Over the multi-year view, management’s priorities have shown progress: assets under management and private-markets assets have grown, and the quarterly dividend has increased. Recent earnings beats and the acquisition support that progress, but near-term performance is still neutral and the sector backdrop is a headwind; a guidance cut remains a meaningful risk despite a low stated miss probability.

What Federated Hermes hinges on

The forward setup depends partly on whether FHI avoids a guidance cut and whether management continues to grow assets and expand alternatives capabilities. Near term, rate cuts could weigh on the Financials sector, while continued earnings strength and higher guidance from sector bellwethers such as BLK, BX, and KKR could support sector momentum.