First Horizon Co. (NYSE:FHN) – Equities research analysts at Jefferies Financial Group lifted their FY2021 EPS estimates for shares of First Horizon in a research note issued on Sunday, October 10th. Jefferies Financial Group analyst C. Haire now expects that the financial services provider will earn $1.85 per share for the year, up from their previous estimate of $1.73. Jefferies Financial Group also issued estimates for First Horizon’s Q1 2022 earnings at $0.35 EPS, Q2 2022 earnings at $0.37 EPS, Q3 2022 earnings at $0.39 EPS and Q4 2022 earnings at $0.36 EPS.
FHN has been the topic of several other reports. Raymond James downgraded First Horizon from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $20.00 to $19.00 in a report on Thursday, October 7th. Hovde Group raised First Horizon from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Wednesday, June 23rd. UBS Group downgraded First Horizon from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $20.00 to $17.00 in a report on Wednesday, September 8th. Morgan Stanley decreased their price target on First Horizon from $21.00 to $19.50 and set an “equal weight” rating for the company in a research note on Monday, August 2nd. Finally, Zacks Investment Research upgraded First Horizon from a “sell” rating to a “hold” rating and set a $16.00 price target for the company in a research note on Tuesday, July 20th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, First Horizon currently has a consensus rating of “Hold” and a consensus price target of $18.30.
First Horizon (NYSE:FHN) last released its quarterly earnings results on Thursday, July 15th. The financial services provider reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.15. First Horizon had a return on equity of 13.95% and a net margin of 33.31%. The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $767.63 million. During the same period in the previous year, the company posted $0.20 earnings per share.
A number of large investors have recently added to or reduced their stakes in FHN. Toronto Dominion Bank grew its holdings in First Horizon by 26.2% during the first quarter. Toronto Dominion Bank now owns 22,492 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 4,664 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of First Horizon by 22.3% in the first quarter. Teacher Retirement System of Texas now owns 61,850 shares of the financial services provider’s stock worth $1,046,000 after acquiring an additional 11,266 shares during the period. UBS Group AG boosted its stake in shares of First Horizon by 29.1% in the first quarter. UBS Group AG now owns 993,001 shares of the financial services provider’s stock worth $16,792,000 after acquiring an additional 223,710 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of First Horizon by 47.8% in the first quarter. Panagora Asset Management Inc. now owns 31,175 shares of the financial services provider’s stock worth $527,000 after acquiring an additional 10,085 shares during the period. Finally, Waddell & Reed Financial Inc. boosted its stake in shares of First Horizon by 8.2% in the first quarter. Waddell & Reed Financial Inc. now owns 991,135 shares of the financial services provider’s stock worth $16,760,000 after acquiring an additional 74,928 shares during the period. 80.94% of the stock is owned by institutional investors and hedge funds.
In related news, CFO William C. Losch III sold 22,684 shares of the company’s stock in a transaction on Thursday, July 29th. The stock was sold at an average price of $15.66, for a total transaction of $355,231.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.63% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 1st. Investors of record on Friday, September 10th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Thursday, September 9th. First Horizon’s dividend payout ratio (DPR) is presently 49.18%.
About First Horizon
First Horizon Corp. (Tennessee) operates as a financial holding company, which engages in the provision of checking accounts, savings products, mortgage banking, lending, and financing to individuals and businesses. It operates the business through four segments: Regional Banking, Specialty Banking, and Corporate.
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