Federated Hermes Premier Municipal Income Fund (FMN)
Financial Services · NYQ
Fundamentals
Valuation and ratings
Federated Hermes Premier Municipal Income Fund trades at USD11.12, close to the USD12.51 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 42 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 92.7 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
FMN dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.315 | 7 |
| 2025 | USD0.515 | 12 |
| 2024 | USD0.443 | 12 |
| 2023 | USD0.444 | 12 |
| 2022 | USD0.557 | 12 |
| 2021 | USD0.648 | 12 |
| 2020 | USD0.616 | 12 |
| 2019 | USD0.620 | 12 |
| 2018 | USD0.683 | 12 |
| 2017 | USD0.732 | 12 |
| 2016 | USD0.851 | 12 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
About Federated Hermes Premier Municipal Income Fund
Federated Hermes Premier Municipal Income Fund is a closed-ended fixed income mutual fund launched by Federated Investors, Inc. The fund is managed by Federated Investment Management Company. It invests in fixed income markets of United States. The fund primarily invests in tax-exempt municipal bonds of GO state, GO local, special tax, hospital, transportation, pre-refunded, senior care, water and sewer, education, electric and gas, and public power sectors. It benchmarks the performance of its portfolio against S&P Municipal Bond Index. Federated Hermes Premier Municipal Income Fund was formed on December 20, 2002 and is domiciled in United States.
FMN passes 3 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is Federated Hermes Premier Municipal Income Fund (FMN) undervalued?
Against our discounted cash flow estimate of USD12.51, FMN at USD11.12 is 13% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is FMN's P/E ratio?
FMN trades at 92.7 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Federated Hermes Premier Municipal Income Fund (FMN) pay a dividend?
Yes. Federated Hermes Premier Municipal Income Fund yields 4.81% at the current share price. It has paid USD0.540 per share over the trailing twelve months. It has paid a dividend in each of the last 23 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.