First Horizon Co. (NYSE:FHN) to Post Q3 2022 Earnings of $0.52 Per Share, Jefferies Financial Group Forecasts

First Horizon Co. (NYSE:FHNGet Rating) – Analysts at Jefferies Financial Group lifted their Q3 2022 earnings per share (EPS) estimates for shares of First Horizon in a report issued on Wednesday, September 14th. Jefferies Financial Group analyst C. Haire now anticipates that the financial services provider will earn $0.52 per share for the quarter, up from their previous estimate of $0.44. The consensus estimate for First Horizon’s current full-year earnings is $1.51 per share. Jefferies Financial Group also issued estimates for First Horizon’s Q4 2022 earnings at $0.56 EPS, Q1 2023 earnings at $0.50 EPS, Q2 2023 earnings at $0.50 EPS, Q3 2023 earnings at $0.49 EPS and Q4 2023 earnings at $0.50 EPS.

Other analysts have also issued reports about the company. Truist Financial lifted their price target on First Horizon to $25.00 in a research note on Friday, June 3rd. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. Nine analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.83.

First Horizon Stock Performance

NYSE:FHN opened at $23.33 on Friday. The stock’s 50-day simple moving average is $22.68 and its 200 day simple moving average is $22.66. The firm has a market capitalization of $12.47 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 3.01 and a beta of 1.04. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.21. First Horizon has a twelve month low of $14.67 and a twelve month high of $24.24.

First Horizon (NYSE:FHNGet Rating) last released its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). First Horizon had a net margin of 26.78% and a return on equity of 12.27%. During the same period last year, the business earned $0.58 earnings per share.

Hedge Funds Weigh In On First Horizon

Hedge funds have recently made changes to their positions in the stock. CWM LLC increased its holdings in First Horizon by 60.8% in the first quarter. CWM LLC now owns 1,233 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 466 shares in the last quarter. CapWealth Advisors LLC increased its holdings in First Horizon by 3.4% in the second quarter. CapWealth Advisors LLC now owns 14,301 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 474 shares in the last quarter. Brandywine Oak Private Wealth LLC increased its holdings in First Horizon by 3.1% in the first quarter. Brandywine Oak Private Wealth LLC now owns 16,102 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 484 shares in the last quarter. Cetera Investment Advisers increased its holdings in First Horizon by 3.2% in the first quarter. Cetera Investment Advisers now owns 15,738 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 491 shares in the last quarter. Finally, Investors Research Corp increased its holdings in First Horizon by 0.7% in the first quarter. Investors Research Corp now owns 68,250 shares of the financial services provider’s stock worth $1,603,000 after purchasing an additional 500 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.57%. First Horizon’s dividend payout ratio (DPR) is 41.67%.

First Horizon Company Profile

(Get Rating)

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.

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Earnings History and Estimates for First Horizon (NYSE:FHN)

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