First Horizon Co. (NYSE:FHN) Receives $16.15 Consensus PT from Analysts

Shares of First Horizon Co. (NYSE:FHN) have earned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $16.15.

Several research analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Wedbush reaffirmed an “outperform” rating and issued a $17.00 price target on shares of First Horizon in a report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price target on shares of First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a report on Thursday, April 4th. Royal Bank of Canada raised shares of First Horizon from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $16.00 to $18.00 in a report on Tuesday, April 9th. Finally, Evercore ISI lifted their price target on shares of First Horizon from $17.00 to $17.50 and gave the company an “outperform” rating in a report on Thursday, March 28th.

First Horizon Price Performance

Shares of FHN stock opened at $14.93 on Monday. The firm has a market cap of $8.28 billion, a P/E ratio of 10.44, a P/E/G ratio of 4.10 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon has a 1-year low of $8.99 and a 1-year high of $18.29. The firm has a fifty day moving average of $14.61 and a two-hundred day moving average of $13.48.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $819.00 million during the quarter, compared to analyst estimates of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. As a group, research analysts anticipate that First Horizon will post 1.5 earnings per share for the current fiscal year.

First Horizon announced that its board has approved a share repurchase program on Tuesday, January 23rd that authorizes the company to buyback $650.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.02%. First Horizon’s dividend payout ratio (DPR) is 41.96%.

Institutional Trading of First Horizon

A number of hedge funds and other institutional investors have recently made changes to their positions in FHN. Macroview Investment Management LLC bought a new stake in shares of First Horizon in the 3rd quarter worth approximately $25,000. Rise Advisors LLC purchased a new position in shares of First Horizon in the first quarter worth approximately $25,000. Raleigh Capital Management Inc. purchased a new position in shares of First Horizon in the fourth quarter worth approximately $28,000. Fortitude Family Office LLC increased its position in shares of First Horizon by 129.3% in the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,102 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in shares of First Horizon in the fourth quarter worth approximately $35,000. 80.28% of the stock is currently owned by institutional investors.

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.