First Horizon (NYSE:FHN) Price Target Raised to $25.00 at JPMorgan Chase & Co.

First Horizon (NYSE:FHN) had its price target increased by JPMorgan Chase & Co. from $23.00 to $25.00 in a research report released on Wednesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

FHN has been the subject of several other reports. Bank of America upped their price target on First Horizon from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Truist Financial upped their price target on First Horizon from $23.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, September 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $24.00 price objective (up from $22.00) on shares of First Horizon in a report on Monday, June 9th. Raymond James Financial reaffirmed an “outperform” rating and set a $24.00 price objective (up from $20.00) on shares of First Horizon in a report on Tuesday, July 8th. Finally, Barclays upped their price objective on First Horizon from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.53.

First Horizon Trading Down 1.3%

FHN stock opened at $22.33 on Wednesday. First Horizon has a 1-year low of $14.82 and a 1-year high of $23.26. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.06 and a beta of 0.67. The business has a 50 day simple moving average of $22.31 and a two-hundred day simple moving average of $20.51.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. First Horizon had a return on equity of 10.55% and a net margin of 17.10%.The business had revenue of $830.19 million during the quarter, compared to the consensus estimate of $832.95 million. During the same period in the prior year, the company posted $0.36 EPS. Research analysts anticipate that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, September 12th. First Horizon’s dividend payout ratio is 38.71%.

Insider Buying and Selling at First Horizon

In other First Horizon news, COO Tammy Locascio sold 10,285 shares of the company’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $22.25, for a total value of $228,841.25. Following the transaction, the chief operating officer owned 342,051 shares of the company’s stock, valued at $7,610,634.75. This represents a 2.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David T. Popwell sold 100,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $22.50, for a total value of $2,250,000.00. Following the completion of the transaction, the executive vice president directly owned 462,581 shares in the company, valued at $10,408,072.50. This trade represents a 17.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,295 shares of company stock worth $3,322,663 in the last ninety days. 0.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Horizon

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its position in shares of First Horizon by 2.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 77,020 shares of the financial services provider’s stock worth $1,496,000 after buying an additional 1,481 shares in the last quarter. Cerity Partners LLC grew its position in shares of First Horizon by 22.0% during the 1st quarter. Cerity Partners LLC now owns 126,555 shares of the financial services provider’s stock worth $2,458,000 after buying an additional 22,852 shares in the last quarter. Brown Advisory Inc. grew its position in shares of First Horizon by 13.3% during the 1st quarter. Brown Advisory Inc. now owns 69,033 shares of the financial services provider’s stock worth $1,341,000 after buying an additional 8,110 shares in the last quarter. Cary Street Partners Financial LLC grew its position in shares of First Horizon by 713.3% during the 1st quarter. Cary Street Partners Financial LLC now owns 151,053 shares of the financial services provider’s stock worth $2,933,000 after buying an additional 132,481 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new position in shares of First Horizon during the 1st quarter worth $7,506,000. Institutional investors own 80.28% of the company’s stock.

About First Horizon

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.