First Horizon (FHN) Set to Announce Earnings on Tuesday

First Horizon (NYSE:FHN) is set to release its earnings data before the market opens on Tuesday, April 16th. Analysts expect First Horizon to post earnings of $0.34 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $784.20 million. First Horizon had a return on equity of 9.94% and a net margin of 17.80%. During the same quarter in the previous year, the company earned $0.51 EPS. On average, analysts expect First Horizon to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

First Horizon Price Performance

Shares of NYSE:FHN opened at $14.20 on Monday. The business’s 50 day simple moving average is $14.51 and its 200-day simple moving average is $13.29. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 9.28, a price-to-earnings-growth ratio of 4.05 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.94. First Horizon has a 12 month low of $8.99 and a 12 month high of $18.99.

First Horizon announced that its board has initiated a share repurchase plan on Tuesday, January 23rd that authorizes the company to repurchase $650.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date was Thursday, March 14th. First Horizon’s payout ratio is currently 39.22%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FHN shares. Raymond James upgraded First Horizon from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $13.00 to $17.00 in a report on Friday, January 5th. Wells Fargo & Company upped their price target on shares of First Horizon from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. StockNews.com cut shares of First Horizon from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Barclays assumed coverage on First Horizon in a research note on Friday, March 8th. They set an “overweight” rating and a $18.00 target price for the company. Finally, Keefe, Bruyette & Woods upgraded First Horizon from a “market perform” rating to an “outperform” rating and raised their target price for the company from $16.00 to $18.00 in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, First Horizon currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Hedge Funds Weigh In On First Horizon

A number of large investors have recently bought and sold shares of the business. Private Advisor Group LLC raised its holdings in First Horizon by 15.6% during the first quarter. Private Advisor Group LLC now owns 29,962 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 4,036 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in First Horizon by 22.9% during the first quarter. Panagora Asset Management Inc. now owns 17,303 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 3,224 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in First Horizon by 10.8% during the first quarter. Great West Life Assurance Co. Can now owns 310,733 shares of the financial services provider’s stock worth $7,507,000 after purchasing an additional 30,189 shares in the last quarter. Blair William & Co. IL raised its holdings in First Horizon by 2.1% during the first quarter. Blair William & Co. IL now owns 28,364 shares of the financial services provider’s stock worth $666,000 after purchasing an additional 575 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in First Horizon by 3,619.3% in the first quarter. Allianz Asset Management GmbH now owns 1,003,120 shares of the financial services provider’s stock worth $23,563,000 after buying an additional 976,149 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Company Profile

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.