First Horizon (NYSE:FHN) Given New $25.00 Price Target at Wells Fargo & Company

First Horizon (NYSE:FHN) had its price target boosted by Wells Fargo & Company from $23.00 to $25.00 in a research note released on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

FHN has been the topic of a number of other reports. Zacks Research lowered shares of First Horizon from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Keefe, Bruyette & Woods increased their target price on First Horizon from $24.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, January 16th. Robert W. Baird cut First Horizon from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $28.00 price target on shares of First Horizon in a report on Monday, January 12th. Finally, Barclays upped their price objective on First Horizon from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Nine investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, First Horizon has an average rating of “Hold” and an average price target of $26.76.

First Horizon Stock Performance

Shares of First Horizon stock opened at $22.07 on Monday. The business has a 50-day simple moving average of $23.84 and a 200-day simple moving average of $23.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon has a one year low of $15.19 and a one year high of $26.56. The company has a market cap of $10.54 billion, a PE ratio of 11.74, a P/E/G ratio of 0.84 and a beta of 0.61.

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

First Horizon Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from First Horizon’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 3.1%. First Horizon’s dividend payout ratio is 36.17%.

Insider Buying and Selling at First Horizon

In other news, EVP Anthony J. Restel sold 5,719 shares of the business’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $24.35, for a total value of $139,257.65. Following the completion of the sale, the executive vice president directly owned 619,132 shares of the company’s stock, valued at approximately $15,075,864.20. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.91% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FHN. Norges Bank purchased a new position in shares of First Horizon during the fourth quarter worth approximately $153,942,000. Artemis Investment Management LLP purchased a new stake in First Horizon in the 4th quarter valued at $90,319,000. Azora Capital LP boosted its stake in First Horizon by 1,020.5% during the 2nd quarter. Azora Capital LP now owns 2,610,244 shares of the financial services provider’s stock worth $55,337,000 after purchasing an additional 2,377,300 shares during the period. Jupiter Asset Management Ltd. purchased a new position in First Horizon during the 3rd quarter worth $49,180,000. Finally, Cullen Capital Management LLC increased its stake in First Horizon by 3,401.0% in the fourth quarter. Cullen Capital Management LLC now owns 2,030,457 shares of the financial services provider’s stock valued at $48,528,000 after purchasing an additional 1,972,461 shares during the period. Institutional investors and hedge funds own 80.28% of the company’s stock.

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.