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

Shares of First Horizon Corporation (NYSE:FHN) have been given a consensus recommendation of “Hold” by the twenty brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $27.1579.

FHN has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of First Horizon from $28.50 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Autonomous Res downgraded shares of First Horizon from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, April 29th. DA Davidson reiterated a “neutral” rating and set a $26.00 price target on shares of First Horizon in a research report on Thursday, April 16th. Wells Fargo & Company increased their price target on shares of First Horizon from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Finally, Barclays decreased their price objective on shares of First Horizon from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th.

First Horizon Stock Down 0.1%

FHN opened at $25.51 on Friday. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.01 and a beta of 0.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.97. The firm’s 50-day simple moving average is $24.94 and its 200-day simple moving average is $24.32. First Horizon has a twelve month low of $19.80 and a twelve month high of $26.56.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. The company had revenue of $890.00 million for the quarter, compared to analyst estimates of $878.42 million. During the same quarter last year, the firm earned $0.45 EPS. Equities research analysts anticipate that First Horizon will post 2.15 EPS for the current fiscal year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, June 12th. This represents a $0.68 annualized dividend and a yield of 2.7%. First Horizon’s dividend payout ratio (DPR) is presently 32.54%.

Institutional Trading of First Horizon

Several large investors have recently modified their holdings of the company. Kestra Investment Management LLC boosted its holdings 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 worth $34,000 after purchasing an additional 1,458 shares during the period. Geneos Wealth Management Inc. raised its holdings in First Horizon by 156.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,095 shares during the period. Basecamp Wealth Advisors LLC raised its holdings in First Horizon by 56.2% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock valued at $47,000 after buying an additional 746 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in First Horizon by 1,348.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,874 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in First Horizon in the fourth quarter worth $51,000. Institutional investors 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.