FY2024 Earnings Forecast for First Horizon Issued By Wedbush

First Horizon Co. (NYSE:FHN) – Analysts at Wedbush lowered their FY2024 earnings per share estimates for First Horizon in a note issued to investors on Wednesday, October 16th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings per share of $1.43 for the year, down from their previous forecast of $1.44. Wedbush currently has a “Neutral” rating and a $17.00 price target on the stock. The consensus estimate for First Horizon’s current full-year earnings is $1.46 per share. Wedbush also issued estimates for First Horizon’s Q1 2026 earnings at $0.39 EPS, Q2 2026 earnings at $0.41 EPS, Q3 2026 earnings at $0.43 EPS and FY2026 earnings at $1.65 EPS.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $821.63 million. During the same period in the prior year, the business posted $0.27 earnings per share.

Several other research analysts also recently weighed in on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $18.00 price target on shares of First Horizon in a report on Wednesday, July 17th. Raymond James downgraded shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price objective on the stock. in a research note on Thursday, July 18th. Royal Bank of Canada lifted their price target on shares of First Horizon from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. cut their target price on First Horizon from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Evercore ISI lowered their target price on First Horizon from $18.50 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, First Horizon currently has a consensus rating of “Moderate Buy” and an average target price of $17.77.

First Horizon Trading Up 0.1 %

Shares of First Horizon stock opened at $17.46 on Friday. The business has a 50 day moving average price of $15.88 and a 200 day moving average price of $15.58. First Horizon has a 1 year low of $10.16 and a 1 year high of $17.68. The company has a market capitalization of $9.55 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.27 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Friday, September 13th. First Horizon’s payout ratio is 41.96%.

Institutional Trading of First Horizon

Institutional investors and hedge funds have recently bought and sold shares of the stock. Access Investment Management LLC raised its position in First Horizon by 0.8% during the second quarter. Access Investment Management LLC now owns 87,655 shares of the financial services provider’s stock valued at $1,382,000 after buying an additional 715 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in First Horizon by 6.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 12,623 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 765 shares during the last quarter. Simplicity Wealth LLC boosted its holdings in shares of First Horizon by 2.8% during the 2nd quarter. Simplicity Wealth LLC now owns 29,282 shares of the financial services provider’s stock worth $462,000 after buying an additional 786 shares during the period. Perigon Wealth Management LLC grew its position in shares of First Horizon by 7.5% in the first quarter. Perigon Wealth Management LLC now owns 11,520 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 804 shares during the last quarter. Finally, KMG Fiduciary Partners LLC grew its holdings in First Horizon by 0.6% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 150,201 shares of the financial services provider’s stock valued at $2,333,000 after buying an additional 952 shares during the last quarter. Institutional investors and hedge funds 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.