First Horizon Co. (NYSE:FHN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

First Horizon Co. (NYSE:FHN) has received a consensus rating of “Moderate Buy” from the sixteen analysts that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $22.03.

FHN has been the topic of a number of recent research reports. Royal Bank of Canada dropped their price objective on shares of First Horizon from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company reduced their price objective on First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Stephens reiterated an “overweight” rating and issued a $24.00 target price on shares of First Horizon in a research note on Friday, January 17th. Citigroup upped their price target 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, Baird R W raised First Horizon from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FHN. Versant Capital Management Inc increased its holdings in First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 884 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of First Horizon during the 4th quarter worth approximately $30,000. Byrne Asset Management LLC raised its position in shares of First Horizon by 115.3% during the 1st quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 830 shares during the last quarter. Kentucky Trust Co purchased a new stake in First Horizon in the 4th quarter valued at approximately $32,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of First Horizon in the fourth quarter worth $50,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Stock Performance

NYSE FHN opened at $18.29 on Friday. The company has a fifty day moving average of $18.49 and a two-hundred day moving average of $19.62. The company has a market capitalization of $9.40 billion, a PE ratio of 13.44, a P/E/G ratio of 1.19 and a beta of 0.60. First Horizon has a 1 year low of $14.09 and a 1 year high of $22.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter last year, the business posted $0.35 EPS. As a group, analysts expect that First Horizon will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 3.28%. First Horizon’s dividend payout ratio is presently 41.67%.

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.