First Horizon Co. (NYSE:FHN) to Post Q4 2024 Earnings of $0.40 Per Share, Wedbush Forecasts

First Horizon Co. (NYSE:FHN) – Equities research analysts at Wedbush raised their Q4 2024 earnings estimates for shares of First Horizon in a report issued on Wednesday, April 17th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $0.40 for the quarter, up from their prior estimate of $0.39. Wedbush currently 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.

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

Several other equities analysts also recently commented on the stock. Wells Fargo & Company boosted their price target on shares of First Horizon from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. UBS Group upgraded shares of First Horizon from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $15.50 to $16.00 in a research note on Wednesday, January 24th. Keefe, Bruyette & Woods upgraded shares of First Horizon from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $16.00 to $18.00 in a research note on Friday, April 5th. Raymond James upgraded shares of First Horizon from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $13.00 to $17.00 in a research note on Friday, January 5th. Finally, Barclays started coverage on shares of First Horizon in a research note on Friday, March 8th. They issued an “overweight” rating and a $18.00 price target for the company. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and an average price target of $16.15.

First Horizon Stock Performance

NYSE:FHN opened at $14.92 on Monday. The company has a 50 day moving average price of $14.57 and a 200 day moving average price of $13.44. The stock has a market capitalization of $8.28 billion, a P/E ratio of 10.43, a PEG ratio of 4.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon has a fifty-two week low of $8.99 and a fifty-two week high of $18.52.

Institutional Investors Weigh In On First Horizon

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in First Horizon by 4.2% in the third quarter. Vanguard Group Inc. now owns 56,775,050 shares of the financial services provider’s stock valued at $625,661,000 after acquiring an additional 2,276,977 shares during the last quarter. California Public Employees Retirement System increased its stake in First Horizon by 16.0% in the third quarter. California Public Employees Retirement System now owns 994,511 shares of the financial services provider’s stock valued at $10,960,000 after purchasing an additional 137,525 shares during the period. Lecap Asset Management Ltd. acquired a new position in First Horizon in the fourth quarter valued at $1,019,000. Louisiana State Employees Retirement System acquired a new position in First Horizon in the fourth quarter valued at $2,222,000. Finally, Qsemble Capital Management LP acquired a new position in First Horizon in the third quarter valued at $1,189,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon declared that its board has approved a share repurchase plan on Tuesday, January 23rd that allows the company to repurchase $650.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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.