Wedbush Equities Analysts Boost Earnings Estimates for First Horizon Co. (NYSE:FHN)

First Horizon Co. (NYSE:FHN) – Analysts at Wedbush raised their Q4 2024 earnings 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 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.

Several other equities research analysts also recently commented on the stock. Barclays assumed coverage on shares of First Horizon in a research note on Friday, March 8th. They issued an “overweight” rating and a $18.00 target price on the stock. Robert W. Baird upped their price target on shares of First Horizon from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. UBS Group upgraded shares of First Horizon from a “neutral” rating to a “buy” rating and upped their price target for the stock from $15.50 to $16.00 in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods upgraded shares of First Horizon from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $16.00 to $18.00 in a research report on Friday, April 5th. Finally, Raymond James upgraded shares of First Horizon from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $13.00 to $17.00 in a research report on Friday, January 5th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Horizon presently has an average rating of “Moderate Buy” and a consensus target price of $16.15.

First Horizon Stock Up 1.9 %

Shares of NYSE:FHN opened at $14.92 on Monday. First Horizon has a 52 week low of $8.99 and a 52 week high of $18.52. 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 company’s fifty day moving average is $14.57 and its 200-day moving average is $13.44. The company has a market capitalization of $8.28 billion, a PE ratio of 10.43, a P/E/G ratio of 4.03 and a beta of 0.94.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, beating 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 company had revenue of $819.00 million for the quarter, compared to the consensus estimate of $809.51 million. During the same quarter in the previous year, the company earned $0.46 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year.

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

Hedge Funds Weigh In On First Horizon

A number of large investors have recently bought and sold shares of FHN. National Bank of Canada FI boosted its holdings in shares of First Horizon by 7,619.1% in the 3rd quarter. National Bank of Canada FI now owns 149,904 shares of the financial services provider’s stock valued at $1,595,000 after buying an additional 147,962 shares during the last quarter. CWM LLC boosted its holdings in shares of First Horizon by 218.3% in the 3rd quarter. CWM LLC now owns 23,321 shares of the financial services provider’s stock valued at $257,000 after buying an additional 15,995 shares during the last quarter. AE Wealth Management LLC boosted its holdings in shares of First Horizon by 69.8% in the 3rd quarter. AE Wealth Management LLC now owns 32,310 shares of the financial services provider’s stock valued at $356,000 after buying an additional 13,285 shares during the last quarter. DnB Asset Management AS boosted its holdings in shares of First Horizon by 10.7% in the 3rd quarter. DnB Asset Management AS now owns 102,467 shares of the financial services provider’s stock valued at $1,129,000 after buying an additional 9,880 shares during the last quarter. Finally, HB Wealth Management LLC lifted its holdings in First Horizon by 98.0% during the 3rd quarter. HB Wealth Management LLC now owns 23,638 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 11,701 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

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.