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

First Horizon Co. (NYSE:FHN) – Stock analysts at Wedbush lifted their Q4 2024 earnings per share (EPS) estimates for shares of First Horizon in a research report issued to clients and investors on Wednesday, April 17th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings of $0.40 per share for the quarter, up from their previous forecast of $0.39. Wedbush has a “Outperform” rating and a $17.00 price target 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.

FHN has been the subject of a number of other reports. Robert W. Baird upped their target price on First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. Raymond James upgraded First Horizon from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $13.00 to $17.00 in a research report on Friday, January 5th. Keefe, Bruyette & Woods upgraded First Horizon from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $16.00 to $18.00 in a research report on Friday, April 5th. Wells Fargo & Company upped their price objective on First Horizon from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Finally, Barclays assumed coverage on First Horizon in a research report on Friday, March 8th. They set an “overweight” rating and a $18.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.15.

First Horizon Stock Performance

NYSE:FHN opened at $14.88 on Monday. The stock has a fifty day moving average price of $14.59 and a 200-day moving average price of $13.47. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 4.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon has a fifty-two week low of $8.99 and a fifty-two week high of $18.52.

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

Hedge Funds Weigh In On First Horizon

A number of institutional investors and hedge funds have recently bought and sold shares of FHN. AQR Capital Management LLC increased its stake in shares of First Horizon by 6,217.8% in the third quarter. AQR Capital Management LLC now owns 7,806,037 shares of the financial services provider’s stock valued at $86,023,000 after buying an additional 7,682,480 shares during the period. Norges Bank acquired a new stake in shares of First Horizon in the fourth quarter valued at about $86,487,000. North Reef Capital Management LP increased its stake in shares of First Horizon by 137.9% in the third quarter. North Reef Capital Management LP now owns 8,900,000 shares of the financial services provider’s stock valued at $98,078,000 after buying an additional 5,158,750 shares during the period. LSV Asset Management increased its stake in shares of First Horizon by 807.7% in the third quarter. LSV Asset Management now owns 5,487,209 shares of the financial services provider’s stock valued at $60,469,000 after buying an additional 4,882,709 shares during the period. Finally, Junto Capital Management LP acquired a new stake in shares of First Horizon in the fourth quarter valued at about $52,721,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.03%. First Horizon’s payout ratio is presently 41.96%.

First Horizon announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 23rd that authorizes the company to repurchase $650.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.