First Horizon (NYSE:FHN) Price Target Raised to $26.00 at TD Cowen

First Horizon (NYSE:FHN) had its target price raised by TD Cowen from $24.00 to $26.00 in a research report sent to investors on Wednesday,Benzinga reports. TD Cowen currently has a hold rating on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Royal Bank Of Canada boosted their target price on shares of First Horizon from $24.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Truist Financial increased their target price on First Horizon from $24.00 to $26.00 and gave the company a “hold” rating in a report on Thursday, December 18th. JPMorgan Chase & Co. upped their price target on First Horizon from $23.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, December 16th. Finally, Baird R W downgraded First Horizon from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, First Horizon has a consensus rating of “Moderate Buy” and a consensus price target of $25.89.

First Horizon Stock Performance

FHN opened at $24.58 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. The firm has a market cap of $12.10 billion, a PE ratio of 14.89, a P/E/G ratio of 0.88 and a beta of 0.61. The business has a fifty day simple moving average of $22.81 and a 200-day simple moving average of $22.28. First Horizon has a fifty-two week low of $15.19 and a fifty-two week high of $24.88.

First Horizon (NYSE:FHN) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. First Horizon had a return on equity of 10.93% and a net margin of 18.08%.The business had revenue of $893.00 million during the quarter, compared to the consensus estimate of $848.08 million. During the same period in the prior year, the business posted $0.42 earnings per share. First Horizon’s revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts predict that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.4%. First Horizon’s dividend payout ratio (DPR) is 36.36%.

First Horizon announced that its Board of Directors has initiated a stock buyback plan on Monday, October 27th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 11.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, CAO Jeff L. Fleming sold 7,619 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $21.74, for a total transaction of $165,637.06. Following the transaction, the chief accounting officer owned 128,626 shares in the company, valued at approximately $2,796,329.24. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David T. Popwell sold 155,149 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $21.31, for a total transaction of $3,306,225.19. Following the completion of the sale, the executive vice president owned 307,432 shares of the company’s stock, valued at $6,551,375.92. This represents a 33.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of First Horizon

Institutional investors and hedge funds have recently made changes to their positions in the stock. Voya Investment Management LLC grew its position in First Horizon by 301.4% in the third quarter. Voya Investment Management LLC now owns 229,860 shares of the financial services provider’s stock valued at $5,197,000 after acquiring an additional 172,599 shares during the period. Apollon Wealth Management LLC boosted its stake 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 valued at $2,213,000 after purchasing an additional 40,604 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of First Horizon by 150.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 97,115 shares of the financial services provider’s stock worth $2,059,000 after purchasing an additional 58,273 shares during the last quarter. Invesco Ltd. increased its position in shares of First Horizon by 3.8% during the 2nd quarter. Invesco Ltd. now owns 7,010,939 shares of the financial services provider’s stock worth $148,632,000 after purchasing an additional 255,429 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in First Horizon by 241.2% during the 3rd quarter. Pacer Advisors Inc. now owns 67,640 shares of the financial services provider’s stock valued at $1,529,000 after purchasing an additional 47,816 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon News Roundup

Here are the key news stories impacting First Horizon this week:

• Positive Sentiment: Goldman Sachs raised its price target to $27 from $24, signaling stronger analyst confidence in FHN’s outlook and providing direct upside pressure on the stock. Goldman Sachs price target raise
• Positive Sentiment: Zacks upgraded First Horizon to a Zacks Rank #2 (Buy), reflecting growing optimism on earnings prospects — this upgrade can attract buy-side interest from momentum/value-focused retail and quant funds. Zacks upgrade
• Positive Sentiment: TD Cowen lifted its price target to $26 and kept a “hold” rating, implying modest upside from current levels and reinforcing analyst support across the desk. TD Cowen price target raise
• Neutral Sentiment: First Horizon announced regional leadership promotions in Louisiana, Texas and Georgia — positive for local client relationships but unlikely to materially change near-term financials. Leadership promotions
• Neutral Sentiment: Coverage pieces comparing FHN with regional peers (Cullen/Frost, Texas Capital) provide valuation and competitive context for investors weighing bank sector allocations but don’t by themselves move fundamentals. FHN vs. CFR comparison
• Neutral Sentiment: A sector/peer contrast piece with Texas Capital Bancshares outlines relative strengths and risks versus FHN — useful for positioning but not an immediate catalyst. TCBI vs FHN contrast
• Neutral Sentiment: Analyst/market commentary assessing FHN’s valuation after recent share momentum discusses upside and risks; helpful for longer-term allocation decisions but not a near-term driver. Valuation assessment

About First Horizon

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.