First Horizon Co. (NYSE:FHN – Get Free Report) announced a quarterly dividend on Tuesday, April 23rd, RTT News reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.15 per share by the financial services provider on Monday, July 1st. This represents a $0.60 annualized dividend and a dividend yield of 4.02%.
First Horizon has a dividend payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Horizon to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 36.8%.
First Horizon Stock Performance
FHN opened at $14.93 on Thursday. The business’s fifty day moving average is $14.61 and its 200-day moving average is $13.48. The firm has a market cap of $8.28 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 4.10 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon has a 52-week low of $8.99 and a 52-week high of $18.29.
Wall Street Analyst Weigh In
Several research firms recently weighed in on FHN. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Evercore ISI increased their target price on First Horizon from $17.00 to $17.50 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods upgraded First Horizon from a “market perform” rating to an “outperform” rating and increased their target price for the company from $16.00 to $18.00 in a research report on Friday, April 5th. Wedbush reiterated an “outperform” rating and issued a $17.00 target price on shares of First Horizon in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company increased their target price on First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Five investment 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.15.
Check Out Our Latest Stock Analysis on FHN
First Horizon announced that its board has authorized a stock repurchase plan on Tuesday, January 23rd that allows the company to repurchase $650.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
First Horizon Company Profile
First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.
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