FY2024 Earnings Forecast for First Horizon Issued By Wedbush

First Horizon Co. (NYSE:FHN) – Investment analysts at Wedbush lowered their FY2024 EPS estimates for First Horizon in a note issued to investors on Wednesday, October 16th. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $1.43 per share for the year, down from their prior forecast of $1.44. Wedbush currently has a “Neutral” rating and a $17.00 target price 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.

A number of other analysts also recently issued reports on FHN. Jefferies Financial Group raised their target price on First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Stephens lifted their target price on shares of First Horizon from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $18.00 price target on shares of First Horizon in a research note on Wednesday, July 17th. Evercore ISI cut their price target on shares of First Horizon from $18.50 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Raymond James cut First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price objective on the stock. in a report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.69.

First Horizon Stock Performance

Shares of First Horizon stock opened at $17.44 on Friday. The business’s 50 day moving average price is $15.83 and its 200 day moving average price is $15.56. The company has a market cap of $9.53 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.27 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. First Horizon has a one year low of $10.16 and a one year high of $17.68.

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

First Horizon Dividend Announcement

The firm also recently disclosed 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 was Friday, September 13th. First Horizon’s dividend payout ratio (DPR) is currently 41.96%.

Institutional Investors Weigh In On First Horizon

Several large investors have recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new stake in shares of First Horizon during the first quarter worth $25,000. UMB Bank n.a. raised its position in First Horizon by 365.0% in the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,325 shares in the last quarter. Family Firm Inc. acquired a new stake in First Horizon in the 2nd quarter valued at about $28,000. Nemes Rush Group LLC boosted its stake in shares of First Horizon by 306.2% in the 2nd quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,378 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in shares of First Horizon during the first quarter worth about $28,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

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.