First Horizon’s (FHN) “In-Line” Rating Reiterated at Evercore ISI

Evercore ISI reiterated their in-line rating on shares of First Horizon (NYSE:FHN) in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $20.00 price target on the financial services provider’s stock, down from their prior price target of $26.00.

Other analysts have also recently issued research reports about the stock. Truist Financial increased their price objective on shares of First Horizon from $23.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, September 24th. Jefferies Financial Group set a $25.00 target price on shares of First Horizon and gave the stock a “buy” rating in a research report on Wednesday. TD Cowen initiated coverage on First Horizon in a report on Thursday, September 25th. They set a “hold” rating and a $25.00 price target on the stock. Cowen began coverage on First Horizon in a research report on Wednesday, September 24th. They set a “hold” rating for the company. Finally, Bank of America increased their price objective on First Horizon from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.47.

First Horizon Stock Up 1.7%

Shares of First Horizon stock opened at $20.28 on Thursday. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 0.83 and a beta of 0.67. First Horizon has a twelve month low of $15.19 and a twelve month high of $23.70. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The business’s 50 day simple moving average is $22.39 and its 200-day simple moving average is $20.75.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. First Horizon had a return on equity of 11.03% and a net margin of 18.08%.The firm had revenue of $849.00 million during the quarter, compared to the consensus estimate of $848.08 million. During the same period in the prior year, the business earned $0.42 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. Equities research analysts forecast that First Horizon will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a dividend of $0.15 per share. The ex-dividend date was Friday, September 12th. This represents a $0.60 annualized dividend and a dividend yield of 3.0%. First Horizon’s dividend payout ratio (DPR) is 36.36%.

Insider Activity at First Horizon

In other news, EVP David T. Popwell sold 100,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $22.50, for a total value of $2,250,000.00. Following the completion of the sale, the executive vice president owned 462,581 shares in the company, valued at $10,408,072.50. This represents a 17.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On First Horizon

Hedge funds and other institutional investors have recently bought and sold shares of the business. JCSD Capital LLC acquired a new stake in First Horizon in the 3rd quarter valued at about $678,000. Apollon Wealth Management LLC raised its holdings in shares of First Horizon by 70.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 97,889 shares of the financial services provider’s stock worth $2,213,000 after purchasing an additional 40,604 shares in the last quarter. Highland Capital Management LLC lifted its stake in First Horizon by 4.8% during the third quarter. Highland Capital Management LLC now owns 368,521 shares of the financial services provider’s stock valued at $8,332,000 after purchasing an additional 16,934 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in First Horizon by 241.2% during the third quarter. Pacer Advisors Inc. now owns 67,640 shares of the financial services provider’s stock worth $1,529,000 after buying an additional 47,816 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. boosted its holdings in First Horizon by 4.3% during the third quarter. ZWJ Investment Counsel Inc. now owns 20,601 shares of the financial services provider’s stock worth $466,000 after buying an additional 852 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors.

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.