First Horizon Co. (NYSE:FHN) Receives $17.38 Average PT from Analysts

by · The Markets Daily

First Horizon Co. (NYSE:FHN – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $17.38.

FHN has been the subject of a number of recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $18.00 price objective on shares of First Horizon in a report on Wednesday, July 17th. Robert W. Baird restated a “neutral” rating and issued a $16.00 price objective on shares of First Horizon in a report on Tuesday, August 6th. Royal Bank of Canada increased their price objective on First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Barclays increased their price objective on First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Finally, Evercore ISI decreased their price target on First Horizon from $19.50 to $18.50 and set an “outperform” rating for the company in a report on Tuesday, September 17th.

Check Out Our Latest Report on FHN

Hedge Funds Weigh In On First Horizon

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Access Investment Management LLC boosted its position in shares of First Horizon by 0.8% during the 2nd quarter. Access Investment Management LLC now owns 87,655 shares of the financial services provider’s stock worth $1,382,000 after purchasing an additional 715 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in First Horizon by 6.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 12,623 shares of the financial services provider’s stock valued at $194,000 after acquiring an additional 765 shares in the last quarter. Simplicity Wealth LLC lifted its position in First Horizon by 2.8% in the 2nd quarter. Simplicity Wealth LLC now owns 29,282 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 786 shares in the last quarter. Perigon Wealth Management LLC lifted its position in First Horizon by 7.5% in the 1st quarter. Perigon Wealth Management LLC now owns 11,520 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 804 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in First Horizon by 7.5% in the 2nd quarter. CIBC Asset Management Inc now owns 15,771 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 1,094 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Down 0.2 %

Shares of NYSE:FHN opened at $15.25 on Thursday. The company has a fifty day moving average of $15.88 and a 200-day moving average of $15.46. The company has a market capitalization of $8.34 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 3.17 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. First Horizon has a 52-week low of $10.08 and a 52-week high of $17.46.

First Horizon (NYSE:FHN – Get Free Report) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $819.82 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same quarter last year, the company posted $0.39 earnings per share. On average, equities analysts predict that First Horizon will post 1.46 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.93%. First Horizon’s dividend payout ratio (DPR) is presently 41.96%.

About First Horizon

(Get Free Report

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.

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