Wedbush Weighs in on First Horizon Co.'s Q4 2024 Earnings (NYSE:FHN)

First Horizon Co. (NYSE:FHN - Free Report) - Analysts at Wedbush lifted their Q4 2024 earnings per share estimates for shares of First Horizon in a research note issued to investors 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 estimate of $0.39. Wedbush currently has a "Outperform" rating and a $17.00 target price 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.

A number of other research analysts have also recently issued reports on the company. Raymond James raised First Horizon from an "outperform" rating to a "strong-buy" rating and raised their price objective for the company from $13.00 to $17.00 in a research note on Friday, January 5th. Wells Fargo & Company lifted their price target on First Horizon from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 10th. Robert W. Baird increased their price objective on First Horizon from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday. UBS Group raised shares of First Horizon from a "neutral" rating to a "buy" rating and increased their price target for the company from $15.50 to $16.00 in a research report on Wednesday, January 24th. Finally, Evercore ISI increased their target price on shares of First Horizon from $17.00 to $17.50 and gave the stock an "outperform" rating in a report on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, First Horizon currently has an average rating of "Moderate Buy" and a consensus price target of $16.15.

First Horizon Trading Up 1.9 %

NYSE:FHN traded up $0.28 during trading hours on Monday, reaching $14.92. The company's stock had a trading volume of 4,485,782 shares, compared to its average volume of 7,119,630. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 4.03 and a beta of 0.94. The firm has a 50-day simple moving average of $14.57 and a 200-day simple moving average of $13.44. First Horizon has a 1 year low of $8.99 and a 1 year high of $18.52.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The firm had revenue of $819.00 million for the quarter, compared to the consensus estimate of $809.51 million. During the same period last year, the firm posted $0.46 earnings per share. The business's revenue was down 4.7% compared to the same quarter last year.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.02%. The ex-dividend date was Thursday, March 14th. First Horizon's payout ratio is currently 41.96%.

First Horizon announced that its Board of Directors has approved a stock buyback plan on Tuesday, January 23rd that permits the company to buyback $650.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 7.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On First Horizon

A number of hedge funds and other institutional investors have recently bought and sold shares of FHN. Raymond James & Associates boosted its position in shares of First Horizon by 11.4% in the 1st quarter. Raymond James & Associates now owns 454,157 shares of the financial services provider's stock worth $6,994,000 after purchasing an additional 46,474 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in 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 worth $194,000 after acquiring an additional 765 shares in the last quarter. DMC Group LLC grew its stake in shares of First Horizon by 27.7% in the first quarter. DMC Group LLC now owns 18,023 shares of the financial services provider's stock worth $278,000 after acquiring an additional 3,912 shares during the last quarter. Norden Group LLC bought a new position in shares of First Horizon during the first quarter valued at $744,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of First Horizon by 24.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 33,400 shares of the financial services provider's stock worth $514,000 after purchasing an additional 6,500 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company's stock.

About First Horizon

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.