First Horizon (NYSE:FHN) Stock Rating Lowered by Wedbush

Wedbush lowered shares of First Horizon (NYSE:FHN) from an outperform rating to a neutral rating in a research note released on Tuesday, MarketBeat.com reports. Wedbush currently has $17.00 price target on the financial services provider’s stock, down from their prior price target of $20.00. Wedbush also issued estimates for First Horizon’s Q4 2024 earnings at $0.36 EPS, FY2024 earnings at $1.44 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.35 EPS, Q3 2025 earnings at $0.35 EPS, Q4 2025 earnings at $0.36 EPS, FY2025 earnings at $1.40 EPS, Q1 2026 earnings at $0.36 EPS, Q2 2026 earnings at $0.37 EPS and FY2026 earnings at $1.50 EPS.

Several other equities research analysts have also weighed in on the company. Royal Bank of Canada raised their price objective on First Horizon from $18.00 to $19.00 and gave the stock an outperform rating in a research note on Thursday, July 18th. Evercore ISI reduced their price objective on First Horizon from $19.50 to $18.50 and set an outperform rating for the company in a research note on Tuesday, September 17th. Raymond James lowered First Horizon from a strong-buy rating to an outperform rating and set a $18.00 price objective for the company. in a research note on Thursday, July 18th. Robert W. Baird reissued a neutral rating and set a $16.00 price objective on shares of First Horizon in a research note on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods reissued a market perform rating and set a $18.00 price objective on shares of First Horizon in a research note on Wednesday, July 17th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $17.38.

First Horizon Stock Up 0.8 %

Shares of FHN stock opened at $15.51 on Tuesday. First Horizon has a 1 year low of $10.08 and a 1 year high of $17.46. The stock has a market cap of $8.48 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 3.17 and a beta of 0.88. The business’s fifty day moving average is $15.84 and its 200-day moving average is $15.47. 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 (NYSE:FHN) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). First Horizon had a net margin of 14.03% and a return on equity of 8.84%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $819.82 million. During the same quarter last year, the business posted $0.39 earnings per share. Equities analysts expect that First Horizon will post 1.46 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.87%. First Horizon’s payout ratio is 41.96%.

Institutional Investors Weigh In On First Horizon

Several large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in First Horizon by 3.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 52,229 shares of the financial services provider’s stock worth $740,000 after purchasing an additional 1,874 shares during the last quarter. Commerce Bank lifted its holdings in First Horizon by 13.3% in the 4th quarter. Commerce Bank now owns 16,699 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 1,966 shares during the last quarter. Orion Portfolio Solutions LLC acquired a new stake in First Horizon in the 4th quarter worth approximately $555,000. United Services Automobile Association lifted its holdings in First Horizon by 9.7% in the 4th quarter. United Services Automobile Association now owns 40,936 shares of the financial services provider’s stock worth $580,000 after purchasing an additional 3,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in First Horizon by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 246,551 shares of the financial services provider’s stock worth $3,491,000 after purchasing an additional 2,410 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

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.