First Horizon Co. (NYSE:FHN) Receives Consensus Recommendation of “Hold” from Analysts

Shares of First Horizon Co. (NYSE:FHNGet Rating) have earned an average rating of “Hold” from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $20.80.

Several equities research analysts recently weighed in on the company. StockNews.com downgraded First Horizon from a “hold” rating to a “sell” rating in a report on Friday, April 15th. Keefe, Bruyette & Woods downgraded First Horizon from an “outperform” rating to a “market perform” rating and raised their target price for the company from $21.00 to $25.00 in a report on Monday, March 7th. Janney Montgomery Scott downgraded First Horizon from a “buy” rating to a “neutral” rating in a report on Tuesday, March 1st. Hovde Group downgraded First Horizon from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 2nd. Finally, Wedbush downgraded First Horizon from an “outperform” rating to a “neutral” rating in a report on Monday, February 28th.

Shares of NYSE FHN opened at $22.50 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.95 and a quick ratio of 0.94. The stock has a fifty day moving average price of $23.14 and a 200 day moving average price of $19.30. First Horizon has a 1-year low of $14.67 and a 1-year high of $24.24. The company has a market cap of $12.03 billion, a PE ratio of 13.39 and a beta of 1.14.

First Horizon (NYSE:FHNGet Rating) last issued its quarterly earnings results on Tuesday, April 19th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. First Horizon had a return on equity of 13.82% and a net margin of 30.72%. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Analysts anticipate that First Horizon will post 1.51 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 10th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, June 9th. First Horizon’s dividend payout ratio is currently 35.71%.

In other news, EVP Terry Lawson Akins sold 39,904 shares of the firm’s stock in a transaction on Wednesday, April 27th. The stock was sold at an average price of $22.75, for a total value of $907,816.00. Following the completion of the transaction, the executive vice president now owns 134,615 shares in the company, valued at $3,062,491.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.55% of the company’s stock.

A number of institutional investors have recently bought and sold shares of FHN. Morgan Stanley increased its position in First Horizon by 118.3% during the 2nd quarter. Morgan Stanley now owns 1,140,113 shares of the financial services provider’s stock worth $19,702,000 after purchasing an additional 617,768 shares in the last quarter. Deutsche Bank AG increased its position in First Horizon by 4.8% during the 3rd quarter. Deutsche Bank AG now owns 94,102 shares of the financial services provider’s stock worth $1,533,000 after purchasing an additional 4,337 shares in the last quarter. Advisor Group Holdings Inc. increased its position in First Horizon by 71.2% during the 3rd quarter. Advisor Group Holdings Inc. now owns 146,581 shares of the financial services provider’s stock worth $2,391,000 after purchasing an additional 60,960 shares in the last quarter. Advisory Services Network LLC increased its position in First Horizon by 3.3% during the 3rd quarter. Advisory Services Network LLC now owns 35,508 shares of the financial services provider’s stock worth $578,000 after purchasing an additional 1,139 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in First Horizon by 40.3% during the 3rd quarter. Toronto Dominion Bank now owns 25,645 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 7,372 shares in the last quarter. Hedge funds and other institutional investors own 79.64% of the company’s stock.

About First Horizon (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.

Recommended Stories

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.