Shares of First Horizon Corporation (NYSE:FHN – Get Free Report) have been assigned an average recommendation of “Hold” from the twenty-one research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $27.12.
FHN has been the subject of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of First Horizon in a report on Friday, September 4th. Morgan Stanley set a $31.00 target price on shares of First Horizon in a report on Friday, October 16th. UBS Group reiterated a “buy” rating on shares of First Horizon in a report on Thursday, July 16th. Truist Financial raised their price target on shares of First Horizon from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, October 19th. Finally, Evercore restated a “hold” rating and issued a $25.00 price target on shares of First Horizon in a research note on Thursday, October 1st.
Read Our Latest Analysis on FHN
First Horizon Price Performance
FHN opened at $23.61 on Tuesday. The stock’s 50-day moving average price is $23.57 and its 200 day moving average price is $24.26. First Horizon has a 12-month low of $20.40 and a 12-month high of $26.56. The firm has a market cap of $11.18 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 0.99 and a beta of 0.62. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.
First Horizon (NYSE:FHN – Get Free Report) last released its earnings results on Thursday, October 15th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The company had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.18 million. First Horizon had a return on equity of 12.24% and a net margin of 14.35%. During the same period in the previous year, the company posted $0.51 EPS. As a group, sell-side analysts expect that First Horizon will post 2.14 earnings per share for the current year.
First Horizon Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 11th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, December 11th. First Horizon’s dividend payout ratio (DPR) is presently 48.92%.
Insider Transactions at First Horizon
In related news, EVP Elizabeth Ardoin sold 18,313 shares of First Horizon stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $24.85, for a total value of $455,078.05. Following the completion of the transaction, the executive vice president directly owned 340,368 shares in the company, valued at approximately $8,458,144.80. This trade represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.91% of the company’s stock.
Institutional Investors Weigh In On First Horizon
A number of hedge funds have recently bought and sold shares of FHN. Bank of America Corp DE acquired a new stake in shares of First Horizon in the 2nd quarter valued at about $96,739,000. Renaissance Technologies LLC increased its position in First Horizon by 158.0% during the first quarter. Renaissance Technologies LLC now owns 540,211 shares of the financial services provider’s stock worth $12,295,000 after buying an additional 330,800 shares during the period. Focus Partners Advisor Solutions LLC acquired a new position in First Horizon during the second quarter worth approximately $1,616,000. Deutsche Bank AG purchased a new stake in First Horizon in the second quarter valued at approximately $1,175,000. Finally, Vise Technologies Inc. purchased a new stake in First Horizon in the second quarter valued at approximately $3,327,000. Institutional investors and hedge funds own 80.28% of the company’s stock.
First Horizon Company Profile
First Horizon Corporation is a regional financial services company headquartered in Memphis, Tennessee, and the parent of First Horizon Bank. Its banking roots date to 1864, when the First National Bank of Memphis was established.
Through its banking operations, First Horizon serves consumers, businesses and institutions across the southeastern United States and Texas. Its services include consumer and commercial banking, lending, treasury and payment solutions, and wealth management.
The company also provides specialized financial services, including capital markets and fixed-income services, as well as mortgage banking.
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