First Horizon Corporation (NYSE:FHN) Receives $27.26 Consensus PT from Brokerages

Shares of First Horizon Corporation (NYSE:FHN) have been given a consensus recommendation of “Hold” by the twenty brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $27.2632.

Several research firms have recently issued reports on FHN. Weiss Ratings upgraded shares of First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 8th. Truist Financial upped their price target on First Horizon from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. UBS Group reaffirmed a “buy” rating on shares of First Horizon in a research report on Thursday, July 16th. Autonomous Res cut First Horizon from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Finally, Evercore set a $27.00 price objective on First Horizon in a research note on Monday, July 6th.

First Horizon Stock Performance

Shares of First Horizon stock opened at $24.60 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $11.65 billion, a P/E ratio of 11.77, a P/E/G ratio of 0.98 and a beta of 0.61. The business has a fifty day simple moving average of $25.48 and a two-hundred day simple moving average of $24.50. First Horizon has a 12 month low of $19.80 and a 12 month high of $26.56.

First Horizon (NYSE:FHN) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. The firm had revenue of $887.00 million for the quarter, compared to analysts’ expectations of $878.42 million. During the same quarter in the previous year, the business posted $0.45 EPS. On average, equities analysts forecast that First Horizon will post 2.15 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, September 11th. This represents a $0.68 annualized dividend and a dividend yield of 2.8%. First Horizon’s dividend payout ratio (DPR) is presently 32.54%.

Hedge Funds Weigh In On First Horizon

A number of hedge funds have recently bought and sold shares of FHN. Kestra Investment Management LLC lifted its stake in shares of First Horizon by 873.1% in the second quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,458 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of First Horizon by 156.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,095 shares during the last quarter. Ancora Advisors LLC bought a new stake in shares of First Horizon during the second quarter valued at approximately $42,000. Basecamp Wealth Advisors LLC increased its position in shares of First Horizon by 56.2% during the first quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 746 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in First Horizon by 1,348.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 1,874 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Company Profile

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.