Q4 2024 EPS Estimates for First Horizon Co. (NYSE:FHN) Lifted by Analyst

First Horizon Co. (NYSE:FHN) – Equities researchers at Wedbush boosted their Q4 2024 earnings per share estimates for First Horizon in a report released on Wednesday, April 17th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $0.40 per share for the quarter, up from their prior forecast of $0.39. Wedbush has a “Outperform” rating and a $17.00 price objective on the stock. The consensus estimate for First Horizon’s current full-year earnings is $1.50 per share. Wedbush also issued estimates for First Horizon’s Q1 2025 earnings at $0.40 EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.42 EPS, Q4 2025 earnings at $0.42 EPS and FY2025 earnings at $1.65 EPS.

Several other research firms have also recently weighed in on FHN. JPMorgan Chase & Co. increased their price objective on First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Barclays initiated coverage on First Horizon in a research report on Friday, March 8th. They issued an “overweight” rating and a $18.00 price objective for the company. Raymond James raised First Horizon from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $13.00 to $17.00 in a research report on Friday, January 5th. Keefe, Bruyette & Woods raised First Horizon from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $16.00 to $18.00 in a research report on Friday, April 5th. Finally, Evercore ISI raised their target price on First Horizon from $17.00 to $17.50 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.15.

First Horizon Stock Down 0.2 %

FHN opened at $14.88 on Monday. First Horizon has a 1-year low of $8.99 and a 1-year high of $18.52. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 10.41, a P/E/G ratio of 4.03 and a beta of 0.94. The business has a 50 day moving average of $14.59 and a 200-day moving average of $13.47.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The company had revenue of $819.00 million during the quarter, compared to analysts’ expectations of $809.51 million. During the same period in the prior year, the business earned $0.46 earnings per share. First Horizon’s revenue for the quarter was down 4.7% compared to the same quarter last year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.03%. First Horizon’s dividend payout ratio is currently 41.96%.

First Horizon announced that its Board of Directors has approved a share buyback program on Tuesday, January 23rd that permits the company to repurchase $650.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Louisiana State Employees Retirement System increased its stake in shares of First Horizon by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 160,800 shares of the financial services provider’s stock valued at $2,476,000 after buying an additional 3,900 shares in the last quarter. Amalgamated Bank increased its stake in shares of First Horizon by 2.6% in the first quarter. Amalgamated Bank now owns 377,965 shares of the financial services provider’s stock valued at $5,821,000 after buying an additional 9,561 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of First Horizon by 1.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 325,279 shares of the financial services provider’s stock valued at $5,009,000 after buying an additional 5,274 shares in the last quarter. Raymond James & Associates increased its stake in shares of First Horizon by 11.4% in the first quarter. Raymond James & Associates now owns 454,157 shares of the financial services provider’s stock valued at $6,994,000 after buying an additional 46,474 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its stake in shares of First Horizon by 6.5% in the first quarter. First Trust Direct Indexing L.P. now owns 12,623 shares of the financial services provider’s stock valued at $194,000 after buying an additional 765 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

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.