FY2024 Earnings Forecast for First Horizon Issued By Wedbush

First Horizon Co. (NYSE:FHN) – Analysts at Wedbush dropped their FY2024 earnings per share (EPS) estimates for shares of First Horizon in a research 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 previous forecast of $1.44. Wedbush has a “Neutral” rating and a $17.00 price objective 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.

First Horizon (NYSE:FHN) last posted 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 firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.27 EPS.

Several other analysts also recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of First Horizon from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $18.00 target price on shares of First Horizon in a research note on Wednesday, July 17th. Evercore ISI decreased their price objective on First Horizon from $18.50 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their price objective on shares of First Horizon from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, July 20th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, First Horizon presently has an average rating of “Moderate Buy” and an average price target of $17.77.

First Horizon Stock Up 0.1 %

Shares of FHN opened at $17.46 on Friday. First Horizon has a 52-week low of $10.16 and a 52-week high of $17.68. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average of $15.88 and a 200 day moving average of $15.58. The company has a market cap of $9.55 billion, a PE ratio of 12.21, a P/E/G ratio of 1.27 and a beta of 0.88.

Hedge Funds Weigh In On First Horizon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in First Horizon by 76.7% in the 3rd quarter. Blue Trust Inc. now owns 21,940 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 9,522 shares during the last quarter. KMG Fiduciary Partners LLC increased its holdings in shares of First Horizon by 0.6% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 150,201 shares of the financial services provider’s stock worth $2,333,000 after buying an additional 952 shares during the last quarter. nVerses Capital LLC acquired a new stake in First Horizon during the third quarter worth $554,000. Exchange Traded Concepts LLC purchased a new stake in First Horizon in the 3rd quarter valued at about $1,730,000. Finally, Inspire Investing LLC raised its stake in shares of First Horizon by 18.4% in the 3rd quarter. Inspire Investing LLC now owns 26,446 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 4,101 shares during the period. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Friday, September 13th. First Horizon’s payout ratio is 41.96%.

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.