BMO Capital Markets Lowers Fiera Capital Price Target to C$9.00

BMO Capital Markets has recently revised its price target for Fiera Capital (TSE:FSZ) from C$10.00 to C$9.00, as reported on Thursday morning. This adjustment reflects recent developments and analyst sentiments regarding the stock's performance.

Fiera Capital has been the subject of various reports from different analysts. For instance, Desjardins raised their price target on Fiera Capital from C$7.75 to C$9.00 with a "hold" rating on October 24th. CIBC also adjusted their target from C$9.50 to C$11.00 on November 8th, indicating a more optimistic outlook. Meanwhile, National Bankshares increased their price target slightly from C$8.00 to C$8.50, though they assigned an "underperform" rating on October 30th. Scotiabank recently lowered their target from C$10.50 to C$10.00. Additionally, TD Securities increased their target price from C$9.00 to C$10.00, maintaining a "hold" rating. Overall, the stock has received two "sell" ratings and six "hold" ratings from analysts, leading to a consensus rating of "Hold" with an average target price of C$8.93 according to MarketBeat.com.

Performance of Fiera Capital

On Thursday, Fiera Capital's shares opened at C$7.85. The stock's 50-day moving average is at C$8.93, while the 200-day moving average stands at C$8.64. The company's financial ratios indicate a debt-to-equity ratio of 259.56, a current ratio of 1.39, and a quick ratio of 1.05. Presently, it has a market capitalization of C$688.84 million, with a price-to-earnings (PE) ratio of 14.54, a negative PEG ratio of -0.87, and a beta of 1.64. Over the past year, Fiera Capital has seen a 52-week low of C$6.58 and a high of C$10.92.

Dividend Announcement

In other news, Fiera Capital recently declared a quarterly dividend, which was distributed on December 19th. Shareholders recorded on November 19th received a dividend of $0.216 per share, an increase from the previous quarterly dividend of $0.22. This equates to an annualized dividend of $0.86 and represents a yield of 11.01%. Currently, Fiera Capital’s payout ratio is 159.26%, highlighting its commitment to returning value to shareholders.

Insider Transactions

On January 6th, Fiera Capital insider, FIERA CAPITAL S.E.C., sold 10,467 shares at an average price of C$8.89, totaling C$93,028.60. Corporate insiders currently own approximately 0.86% of the stock, indicating a moderate level of insider ownership.

About Fiera Capital Corporation

Fiera Capital Corporation is an investment management firm that is employee-owned. It provides a range of services primarily to institutional investors, including mutual funds, charitable organizations, and private clients. The firm manages diverse portfolios that focus on equity, fixed income, and balanced strategies. Additionally, Fiera Capital develops and oversees mutual funds and income trusts tailored to client needs.

BMO, Capital, Markets