First Horizon Co. (NYSE:FHN) – Research analysts at Truist Securiti boosted their Q2 2022 earnings per share estimates for shares of First Horizon in a research report issued to clients and investors on Wednesday, September 22nd. Truist Securiti analyst J. Demba now expects that the financial services provider will post earnings per share of $0.38 for the quarter, up from their prior estimate of $0.37. Truist Securiti also issued estimates for First Horizon’s Q3 2022 earnings at $0.39 EPS and Q4 2022 earnings at $0.39 EPS.
FHN has been the topic of a number of other reports. Hovde Group upgraded shares of First Horizon from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Wednesday, June 23rd. Morgan Stanley dropped their price objective on shares of First Horizon from $21.00 to $19.50 and set an “equal weight” rating on the stock in a report on Monday, August 2nd. UBS Group lowered shares of First Horizon from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $20.00 to $17.00 in a report on Wednesday, September 8th. Raymond James assumed coverage on shares of First Horizon in a report on Friday, July 16th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of First Horizon from a “sell” rating to a “hold” rating and set a $16.00 price target on the stock in a research note on Tuesday, July 20th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, First Horizon currently has an average rating of “Buy” and a consensus target price of $17.42.
First Horizon (NYSE:FHN) last issued its quarterly earnings data on Thursday, July 15th. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.15. First Horizon had a net margin of 33.31% and a return on equity of 13.95%. The business had revenue of $782.00 million for the quarter, compared to analyst estimates of $767.63 million. During the same period last year, the business posted $0.20 earnings per share.
Institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Company LLC acquired a new position in shares of First Horizon during the 1st quarter worth about $33,000. Leelyn Smith LLC bought a new stake in shares of First Horizon during the 2nd quarter worth about $42,000. AGF Investments LLC boosted its holdings in shares of First Horizon by 87.6% during the 1st quarter. AGF Investments LLC now owns 2,502 shares of the financial services provider’s stock worth $42,000 after buying an additional 1,168 shares during the period. TD Capital Management LLC boosted its holdings in shares of First Horizon by 51.9% during the 1st quarter. TD Capital Management LLC now owns 3,122 shares of the financial services provider’s stock worth $53,000 after buying an additional 1,067 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of First Horizon during the 2nd quarter worth about $94,000. Institutional investors own 80.94% of the company’s stock.
In other news, CFO William C. Losch III sold 22,684 shares of the business’s stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $15.66, for a total transaction of $355,231.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.63% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 10th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 9th. This represents a $0.60 annualized dividend and a yield of 3.78%. First Horizon’s payout ratio is currently 49.18%.
About First Horizon
First Horizon Corp. (Tennessee) operates as a financial holding company, which engages in the provision of checking accounts, savings products, mortgage banking, lending, and financing to individuals and businesses. It operates the business through four segments: Regional Banking, Specialty Banking, and Corporate.
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