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

First Horizon Corporation (NYSE:FHN) has been assigned an average recommendation of “Moderate Buy” from the twenty analysts that are currently covering the company, Marketbeat reports. Ten research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $26.6579.

FHN has been the topic of a number of research analyst reports. Raymond James Financial upped their target price on First Horizon from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Truist Financial set a $27.00 target price on First Horizon in a research note on Friday, January 9th. UBS Group reaffirmed a “buy” rating and issued a $29.00 price target on shares of First Horizon in a research note on Wednesday, February 4th. Keefe, Bruyette & Woods increased their price objective on First Horizon from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on First Horizon in a research report on Tuesday, December 16th. They set a “buy” rating and a $28.00 price objective for the company.

First Horizon Trading Up 0.3%

Shares of FHN opened at $21.80 on Monday. First Horizon has a 1-year low of $15.19 and a 1-year high of $26.56. 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 firm’s 50-day moving average price is $24.06 and its 200-day moving average price is $23.08. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 0.83 and a beta of 0.61.

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

First Horizon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, March 13th. This is a positive change from First Horizon’s previous quarterly dividend of $0.15. First Horizon’s dividend payout ratio (DPR) is 36.17%.

Insider Transactions at First Horizon

In related news, EVP Anthony J. Restel sold 5,719 shares of the business’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 sale, the executive vice president owned 619,132 shares of the company’s stock, valued at $15,075,864.20. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Horizon

Several large investors have recently made changes to their positions in FHN. Goldman Sachs Group Inc. increased its position in First Horizon by 102.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,709,434 shares of the financial services provider’s stock valued at $33,197,000 after buying an additional 865,109 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in First Horizon by 156.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 1,095 shares in the last quarter. Allworth Financial LP grew its stake in shares of First Horizon by 57.9% in the second quarter. Allworth Financial LP now owns 2,064 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 757 shares during the last quarter. Creative Planning grew its stake in shares of First Horizon by 6.4% in the second quarter. Creative Planning now owns 113,777 shares of the financial services provider’s stock worth $2,412,000 after acquiring an additional 6,863 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of First Horizon by 17.8% during the second quarter. Cetera Investment Advisers now owns 44,960 shares of the financial services provider’s stock valued at $953,000 after acquiring an additional 6,796 shares in the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

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.