Wedbush Comments on First Horizon Co.’s Q4 2024 Earnings (NYSE:FHN)

First Horizon Co. (NYSE:FHN) – Analysts at Wedbush boosted their Q4 2024 earnings per share (EPS) estimates for First Horizon in a report issued on Wednesday, April 17th. Wedbush analyst D. Chiaverini now anticipates 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.

Several other analysts have also weighed in on the company. Raymond James raised First Horizon from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $13.00 to $17.00 in a report on Friday, January 5th. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a report on Friday. Keefe, Bruyette & Woods raised First Horizon from a “market perform” rating to an “outperform” rating and upped their target price for the company from $16.00 to $18.00 in a report on Friday, April 5th. Wells Fargo & Company upped their target price on First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Finally, 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 report on Thursday. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.15.

First Horizon Stock Up 2.5 %

Shares of First Horizon stock opened at $14.63 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The firm has a market cap of $8.12 billion, a P/E ratio of 10.23, a P/E/G ratio of 4.03 and a beta of 0.94. First Horizon has a fifty-two week low of $8.99 and a fifty-two week high of $18.99. The business has a 50-day moving average price of $14.55 and a 200 day moving average price of $13.41.

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

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Thursday, March 14th. First Horizon’s dividend payout ratio (DPR) is 41.96%.

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

Hedge Funds Weigh In On First Horizon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers boosted its stake in First Horizon by 3.2% during the 1st quarter. Cetera Investment Advisers now owns 15,738 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 491 shares in the last quarter. Blair William & Co. IL boosted its stake in First Horizon by 2.1% during the 1st quarter. Blair William & Co. IL now owns 28,364 shares of the financial services provider’s stock valued at $666,000 after purchasing an additional 575 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in First Horizon by 6.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 12,623 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 765 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in First Horizon by 0.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 140,326 shares of the financial services provider’s stock valued at $3,068,000 after purchasing an additional 788 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its stake in First Horizon by 7.0% during the 1st quarter. Wetherby Asset Management Inc. now owns 12,152 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 800 shares in the last quarter. 80.28% of the stock is owned by institutional investors.

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.