Brokerages Set First Horizon Co. (NYSE:FHN) Target Price at $20.80

First Horizon Co. (NYSE:FHNGet Rating) has earned an average rating of “Hold” from the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $20.80.

FHN has been the topic of several recent research reports. Jefferies Financial Group lowered First Horizon from a “buy” rating to a “hold” rating and raised their target price for the company from $22.00 to $25.00 in a report on Monday, March 7th. Hovde Group lowered First Horizon from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 2nd. Janney Montgomery Scott lowered First Horizon from a “buy” rating to a “neutral” rating in a report on Tuesday, March 1st. Raymond James lowered First Horizon from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 1st. Finally, StockNews.com lowered First Horizon from a “hold” rating to a “sell” rating in a research note on Friday.

Shares of NYSE:FHN opened at $23.04 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. First Horizon has a 1 year low of $14.67 and a 1 year high of $24.24. The business has a fifty day simple moving average of $21.85 and a 200 day simple moving average of $18.65. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 13.24 and a beta of 1.18.

First Horizon (NYSE:FHNGet Rating) last posted its earnings results on Thursday, January 20th. The financial services provider reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.10. First Horizon had a return on equity of 14.69% and a net margin of 30.85%. The company had revenue of $745.00 million for the quarter, compared to analyst estimates of $730.51 million. During the same period last year, the company earned $0.46 earnings per share. On average, sell-side analysts forecast that First Horizon will post 1.51 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, March 11th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Thursday, March 10th. First Horizon’s dividend payout ratio (DPR) is presently 34.48%.

In related news, Chairman Daryl G. Byrd sold 155,328 shares of First Horizon stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $17.27, for a total transaction of $2,682,514.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.55% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Guggenheim Capital LLC boosted its holdings in First Horizon by 2.9% during the third quarter. Guggenheim Capital LLC now owns 1,144,669 shares of the financial services provider’s stock valued at $18,647,000 after purchasing an additional 32,421 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in First Horizon during the third quarter valued at approximately $178,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in First Horizon by 67.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 132,935 shares of the financial services provider’s stock valued at $2,166,000 after purchasing an additional 53,475 shares in the last quarter. TPG Financial Advisors LLC boosted its holdings in First Horizon by 55.5% during the fourth quarter. TPG Financial Advisors LLC now owns 19,177 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 6,847 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in First Horizon during the fourth quarter valued at approximately $101,000. 80.70% of the stock is currently owned by institutional investors.

First Horizon Company Profile (Get Rating)

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.

See Also

Analyst Recommendations for First Horizon (NYSE:FHN)

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Brokerages Set First Horizon Co. (NYSE:FHN) Target Price at $20.80

First Horizon Co. (NYSE:FHNGet Rating) has earned an average rating of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and ten have given a hold recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $20.80.

Several brokerages recently issued reports on FHN. StockNews.com lowered First Horizon from a “hold” rating to a “sell” rating in a report on Friday. Hovde Group lowered First Horizon from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 2nd. Janney Montgomery Scott lowered First Horizon from a “buy” rating to a “neutral” rating in a report on Tuesday, March 1st. Wells Fargo & Company lowered First Horizon from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 1st. Finally, Wedbush lowered First Horizon from an “outperform” rating to a “neutral” rating in a report on Monday, February 28th.

Shares of First Horizon stock opened at $23.04 on Wednesday. The stock has a market cap of $12.30 billion, a PE ratio of 13.24 and a beta of 1.18. The business has a fifty day simple moving average of $21.85 and a 200-day simple moving average of $18.65. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.20. First Horizon has a 12 month low of $14.67 and a 12 month high of $24.24.

First Horizon (NYSE:FHNGet Rating) last issued its earnings results on Thursday, January 20th. The financial services provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.10. First Horizon had a return on equity of 14.69% and a net margin of 30.85%. The business had revenue of $745.00 million during the quarter, compared to analysts’ expectations of $730.51 million. During the same quarter last year, the firm posted $0.46 earnings per share. Analysts expect that First Horizon will post 1.51 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Friday, March 11th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, March 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.60%. First Horizon’s payout ratio is presently 34.48%.

In other news, Chairman Daryl G. Byrd sold 155,328 shares of First Horizon stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $17.27, for a total value of $2,682,514.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.55% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Guggenheim Capital LLC grew its position in First Horizon by 2.9% during the third quarter. Guggenheim Capital LLC now owns 1,144,669 shares of the financial services provider’s stock worth $18,647,000 after buying an additional 32,421 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in First Horizon during the third quarter worth about $178,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in First Horizon by 67.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 132,935 shares of the financial services provider’s stock worth $2,166,000 after buying an additional 53,475 shares in the last quarter. TPG Financial Advisors LLC grew its position in First Horizon by 55.5% during the fourth quarter. TPG Financial Advisors LLC now owns 19,177 shares of the financial services provider’s stock worth $313,000 after buying an additional 6,847 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in First Horizon during the fourth quarter worth about $101,000. Institutional investors and hedge funds own 80.70% of the company’s stock.

First Horizon Company Profile (Get Rating)

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.

See Also

Analyst Recommendations for First Horizon (NYSE:FHN)

Receive News & Ratings for First Horizon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Horizon and related companies with MarketBeat.com's FREE daily email newsletter.