Fiera Capital Corp (FSZ.TO) Buy, Sell or Hold

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Fiera Capital Corp (FSZ.TO)

4.97

+0.11 (2.26%)

as of Jul 31, 2026, 8:00:01 pm Market Open.

147 watching

Investor Insights

Aug 1, 2026, 12:00 am

This summary was created by AI, based on 3 opinions in the last 12 months.

Fiera Capital Corp (FSZ-T) has encountered several challenges in the asset management sector, particularly concerning its relatively small size compared to larger competitors who are increasingly moving towards ETF offerings. Experts note that while the company pays a decent dividend, its profit margins are under pressure, and there's been a noticeable decline in revenue. The recent earnings report was mixed, with EPS surpassing estimates but overall revenue missing expectations, indicating ongoing struggles in the company's performance. Nevertheless, assets under management have stabilized, which is a positive sign compared to earlier concerns. The stock remains cheap with a yield of 6.4%, despite a significant dividend cut, leading some analysts to be cautiously optimistic about its future prospects, although past performance raises concerns about it being a potential value trap.

Consensus

Cautious

Valuation

Undervalued

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BMO.TO

DON'T BUY

The problem is, they're small among asset managements; the larger ones move into selling ETFs. Pays a nice dividend, but margins are declining.

COMMENT

It has been weaker in recent months with some challenges with institutional profits. Fees are tied to the asset management business and there has been pressure on fees in the industry. It will have to grow its mandates and investments longer term. Pays a nice dividend.

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Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research

EPS of 24c beat estimates of 19c; revenue of $162.9M missed estimates of $166M. Revenue is still declining, 1.1%, despite big market gains this year. But assets under management did rise 1%. EBITDA rose 0.9% and did beat estimates. There is good leverage on earnings with cost control. Assets seem to have stabilized, which was a big concern earlier. The stock is very cheap and the yield is still 6.4%, despite the 50% dividend cut. Still, it is hard to get too excited here. It has been a harsh value trap in the past. EPS is expected to surge this year but then only rise about 5% in 2026. The quarter was an improvement but we would like to see some further consistency here.
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HOLD

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research

The $4B withdrawal is fairly serious, though FSZ does have $166B, and it continues a trend of some assets leaving the company (including money that earlier flowed out to Pinestone following Nadim Risk's departure in 2021). On the plus side, it is coming at a time of good markets, and FSZ has seen some positive momentum recently (we have comments on its quarter posted). The 10% drawdown seems a bit much on the news, but any large $$ exit is never good for sentiment. But the drop may have been partly profit-taking as well, as shares have been on a roll prior to this event.
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DON'T BUY

Doesn't pay a high dividend and carries a lot of debt. They do debt-fuelled acquisitions. He doubts they can maintain their dividend.

COMMENT

It is in the field of asset management and manages $164 billion in assets. It has grown by acquisition in the last while but the stock price is too low now for them to use it as currency for more acquisitions. It needs to be bigger in this type of business and there are better places to be.

DON'T BUY

Company seeing outflows in business.
Lots of debt negatively affected by rising interest rates.
Current share price very cheap.
Business moving sideways (not growing).
Prefer CI Financial/Guardian Capital.

BUY ON WEAKNESS

Canadian asset manager that has seen low share price (higher interest rates).
AUM growth has been weaker due to choppy markets.
Cyclical business that will recover with flat interest rates.

DON'T BUY

Believes company has done good job in growing & diversifying business. Largest portion of business in equities. Excited about move into private business models. Weak financial numbers lately a concern. Would not recommend buying company. Stick to Blackstone instead.

COMMENT

FSZ vs. ZWU Both pay around an 8% dividend, which at that level it's probably not pure dividend you're getting on a long-term basis. About 6.5% is the limit for a sustainable dividend level. Plus, you get worries about the future of hydrocarbon demand. He himself doesn't see this, but it's a scenario to consider. Both FSZ and ZWU, you're getting some of your capital back to fund their dividends--this is not sustainable. ZWU has underperformed the equal-weight bank ETF since inception. So, the covered call portion isn't adding value, but is an additional-fee generator. He's rather buy the underlying stocks. Fiera has done a ton of purchases, not all of them cheap or good. Their wealth management business has been positive in the last 18 months, but you risk a market correction and a major re-pricing of assets, more so than any Canadian bank.

BUY

Unusually high dividend should get your spidey senses tingling. Market doesn't believe dividend is sustainable, but he does and thinks it will grow slowly over time. Unique asset manager in that they've created some growth. Strong leadership. Dividend is compelling, doesn't foresee huge capital appreciation. Comfortable buying for income.

WEAK BUY

Really likes the investment management sector. It should be pretty good business in a time of a decent market and reflation. Great company. Decelerating revenue growth. Relative underperformer. Dividend is attractive at 8%. When a group gets into gear, you want to look at the leaders. He owns BX, CIX, BLK, IGM, and POW. You could also look at the IAI ETF.

BUY

Dividend is safe. Dividend has grown about 13% compounded over the last decade. Size and cadence of dividend has slowed. Company is surviving and thriving, due to management. Earnings growing consistently. Good acquirers. Has a bit of beta, so a good play in this market. Cheap at 8x earnings.

DON'T BUY

Good alternative to a bank share? In a word, no. Their big 20% share drop move is significant. Asset management growth companies are more volatile, especially in falling markets when asset values are falling. He prefers to own traditional banks for their better dividend yield and more diversified business.

PAST TOP PICK

(A Top Pick Sep 27/19, Up 13%) They bought one of the world's largest fund managers. Pays a sustainable 7% dividend yield. In falling markets, active managers outperform, which will benefit Fiera.

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Fiera Capital Corp (FSZ.TO) Frequently Asked Questions

What is Fiera Capital Corp stock symbol?

Fiera Capital Corp is a Canadian stock, trading under the symbol FSZ.TO (previously FSZ-T on Stockchase) on the Toronto Stock Exchange (FSZ-CT). It is usually referred to as TSX:FSZ or FSZ.TO

Is Fiera Capital Corp a buy or a sell?

In the last year, 1 stock analyst issued a Buy, Sell, or Hold rating on FSZ.TO (previously FSZ-T on Stockchase). 0 analysts recommended to BUY and 1 analyst recommended to SELL the stock. The latest stock analyst rating is DON'T BUY. Read the latest stock experts' ratings for Fiera Capital Corp.

Is Fiera Capital Corp a good investment or a top pick?

Fiera Capital Corp was recommended as a Top Pick by Paul Harris, CFA on 2025-11-24. Read the latest stock experts ratings for Fiera Capital Corp.

Why is Fiera Capital Corp stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts' recommendations for Fiera Capital Corp.

Is Fiera Capital Corp worth watching?

Fiera Capital Corp is followed by 147 investors on Stockchase and is a trending stock that is worth watching.

What is Fiera Capital Corp stock price?

On 2026-07-31, Fiera Capital Corp (FSZ.TO) stock closed at a price of $4.97.

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Fiera Capital Corp (FSZ.TO)