First Horizon (NYSE:FHN) Upgraded at StockNews.com

StockNews.com upgraded shares of First Horizon (NYSE:FHN) from a sell rating to a hold rating in a research report report published on Tuesday morning.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada lifted their target price on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Barclays lifted their price target on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. UBS Group began coverage on First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price objective on the stock. Citigroup raised their target price on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods upped their price target on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, First Horizon has a consensus rating of “Moderate Buy” and an average price target of $22.30.

First Horizon Price Performance

NYSE:FHN opened at $16.92 on Tuesday. First Horizon has a one year low of $13.72 and a one year high of $22.44. The stock has a market cap of $8.70 billion, a PE ratio of 12.44, a P/E/G ratio of 1.19 and a beta of 0.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a 50 day moving average price of $19.82 and a 200 day moving average price of $19.45.

First Horizon (NYSE:FHN) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period in the prior year, the firm posted $0.32 earnings per share. Equities research analysts expect that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.15 per share. The ex-dividend date was Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.55%. First Horizon’s dividend payout ratio is presently 44.12%.

Insider Activity at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the completion of the transaction, the chief executive officer now directly owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This trade represents a 5.58 % 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 0.87% of the company’s stock.

Institutional Investors Weigh In On First Horizon

Hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc grew its position in shares of First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after buying an additional 884 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in First Horizon during the 4th quarter worth approximately $30,000. Kentucky Trust Co acquired a new position in First Horizon during the 4th quarter worth approximately $32,000. Lee Danner & Bass Inc. purchased a new stake in shares of First Horizon in the 4th quarter valued at approximately $50,000. Finally, Farther Finance Advisors LLC lifted its position in shares of First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 591 shares during the last quarter. Institutional investors and hedge funds 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.