First Horizon Corporation (NYSE:FHN) Given Average Rating of “Moderate Buy” by Brokerages

First Horizon Corporation (NYSE:FHN) has been given a consensus rating of “Moderate Buy” by the twenty brokerages that are covering the firm, MarketBeat reports. Ten equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $26.6579.

A number of analysts have recently issued reports on the company. The Goldman Sachs Group set a $27.00 target price on First Horizon and gave the stock a “neutral” rating in a report on Tuesday, January 6th. Weiss Ratings restated a “hold (c+)” rating on shares of First Horizon in a research report on Monday, December 29th. JPMorgan Chase & Co. boosted their price objective on First Horizon from $23.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, December 16th. UBS Group reissued a “buy” rating and set a $29.00 target price on shares of First Horizon in a research note on Wednesday, February 4th. Finally, Stephens upped their target price on First Horizon from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th.

Insider Transactions at First Horizon

In other First Horizon news, EVP Anthony J. Restel sold 5,719 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $24.35, for a total transaction of $139,257.65. Following the completion of the transaction, the executive vice president owned 619,132 shares in the company, valued at $15,075,864.20. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Atlantic Union Bankshares Corp acquired a new position in First Horizon in the third quarter valued at about $25,000. Navigoe LLC bought a new stake in shares of First Horizon in the 3rd quarter valued at about $25,000. Root Financial Partners LLC acquired a new stake in shares of First Horizon in the 3rd quarter valued at approximately $31,000. Kestra Investment Management LLC raised its position in shares of First Horizon by 873.1% in the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,458 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its stake in First Horizon by 122.3% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,636 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 900 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Price Performance

FHN stock opened at $24.47 on Thursday. The firm has a 50 day moving average of $24.59 and a 200-day moving average of $23.01. 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 company has a market cap of $12.05 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 0.91 and a beta of 0.63. First Horizon has a 12-month low of $15.19 and a 12-month high of $26.56.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Thursday, January 15th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.06. The company had revenue of $892.00 million for the quarter, compared to the consensus estimate of $863.87 million. First Horizon had a net margin of 19.67% and a return on equity of 11.21%. During the same quarter in the prior year, the firm earned $0.43 earnings per share. As a group, equities analysts expect that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.17 dividend. This is a boost from First Horizon’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, March 13th. First Horizon’s dividend payout ratio is currently 31.91%.

First Horizon Company Profile

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.